Fashion, technology, and e-commerce have become so much intertwined in the past few years. In the year 2016 alone, revenues resulting from e-commerce were estimated to be $72 billion. That figure is projected to increase further by the year 2021 to $116 billion. Startup fashion brands and Legacy have worked so hard to try and attract online consumers. They are using different kinds of methods such as Social Media Marketing (SMM) as well as customer relationship management (CRM) techniques to broaden their online market. Membership programs is one of the methods that has been largely tried.
There is one particular company which has successfully used membership programs and emerged as a leader in online retail sales. The company was also the first to launch membership programs subscriptions. It is stunning that very few people are aware of the company and its role as a marketing technology giant. The name of the company is Techstyle Fashion Group under the leadership of Adam Goldenberg and Don Ressler who both serve as Chief Executive Officers of the company. The two have seen Techstyle turn into one of the best online marketing companies.
In around 2010, JustFab started an online retail industry through the membership program for footwear. A few months after the launch its VIP monthly subscription members got 30 percent off retail pricing together with exclusive access to several other benefits such as loyalty rewards points, promotions and special products as well as free shipping. The strategy worked perfectly and within just two years their website had a membership of 6 million. The company in 2012 sold more than 2.5 million shoes.
About Goldenberg Adam, co-CEO of Techstyle
Adam Goldenberg started his career way back when he was 13 years after he launched his online bulletin board which later transformed into Gamer’s Alliance (gaming website). He sold his website to Intermix, a parent company of MySpace when he was only 17 years of age.
Taking over the Digital Catwalk
TechStyle is not your ordinary startup company. It has a 120,000-square-foot headquarters that anyone would envy. The company holds weekly team meetings (Tuesdays) where all employees are allowed to take part. During these meetings, performance is evaluated and all teams are given an opportunity to raise issues of concern about the company.
It is estimated that TechStyle will earn revenue worth $700 million this year alone. The company has a total membership of 4.5 million and employs over 2,000 people. With the leadership of both Don Ressler and Goldenberg, the company has better future prospects.