Leading Fabletics to become a $250 million organization has been a remarkable milestone for Kate Hudson. Given that the fashion e-commerce industry is controlled by Amazon with over 20 percent of the market share succeeding in such a market is challenging. A combination of convenience, membership and unique brands has been highlighted as the major factors driving success at Fabletics.
In particular, Kate Hudson managed to change the conventional definition of high-quality brands, which was based on price and quality. Today, customer experience, gamification and brand recognition are the new determinants of high-value clothing. Moreover, the well-crafted strategies and excellent positioning are now coming to fruition.
Gregg Throgmartin, Fabletics’ general manager, believes that their success has been as a result of the commitment to their concept of revolutionizing the fashion industry from the start. Further, Fabletics’ membership offers their clients with an opportunity to get on-trend style and customized service at half the price offered by Fabletics’ competitors.
Unlike other companies, which are facing adverse effects of Showrooming, Fabletics is reaping big with reverse showrooming. They use a strategy that ensures that about 30-50 percent of the customers who visit their stores are members and about 25 percent of them become members before leaving the store.
Focus On the People
Fabletics rapid growth has been associated with their focus on consumer lifestyle, education, and experiences. They have unmatched ability to understand new customers in new territories. As a result, Fabletics has been able to achieve an annual growth rate of 35 percent. With all these factors put in consideration, Fabletics has managed to thrive without being faced out by Amazon.
Kate Hudson’s Tips for Success
Co-founding Fabletics has played a significant role in boosting Kate Hudson’s reputation. This prominence is owed to the impressive performance of the brand since its inception in 2013. According to Kate, spotting marketing opportunities that other companies have not explored is a step towards success. She also advocates for entrepreneurs or individuals to remain hands on when operating a business.
To attain success, you need to rely on data before making decisions. Doing so has allowed Fabletics to turn inventory quickly, determine prices and create models of what fashion clients will need in the future months. Hudson believes that one should seek inspiration in a bid to succeed. For her, the inspiration comes from her mother. Additionally, it is imperative to take risks and believe in yourself.
Since every individual has a different taste and preference; it is advisable to take up the Fabletics’ Lifestyle Quiz to enable Fabletics’ experts offer you with the perfect match.