It’s a wonder how some companies succeed when so many others fail. It seems like these days nearly everyone has a multimillion-dollar company. But if that’s the case, shouldn’t it be extremely difficult for more people to launch successful companies? In fact, it’s quite difficult; yet that’s exactly what Kate Hudson’s done.
As a co-founder of the athleisure brand Fabletics, Kate Hudson took part in building a fashion brand that found success in a market dominated by powerhouses like Nike, Under Armour, and Lululemon. To make matters worse, Amazon controls 20 percent of the entire fashion e-commerce market.
Even as more companies rise and fall, as of 2016, Fabletic’s seen a 43 percent rise in sales. Fabletic’s also grown on social media and in the physical world. By 2017, Fabletics had more than 20 million Twitter followers and nearly 20 retail stores. Most importantly, Fabletics has 1.2 million paying members in eight different countries.
Each member has no trouble ignoring all the naysayers trying to downplay the success of Fabletics. Fabletics has the same kind of problems that every company has; it’s just resolving those issues in unique ways that people aren’t used to. Best of all, Fabletics does so without raising their prices.
Fabletics didn’t stop of tailoring their service to members. Fabletics also had to take into consideration the entire marketplace. Currently, the athleisure wear trend is a $40 billion venture. That means every fashion brand is going to be trying to cash in.
Fabletics had a good start, but discount stores like Target and Wal-Mart have now joined the race. Still, Fabletics is relying on the relationship it’s built with its members. The company’s also relying on years of data to help it predict what customers will want to buy in the future.
Part of that success comes from the 18 retail stores. Each store hosts events that help the brand get to know its local members. That information is then used to fill each store with items that local members are most likely to purchase.
For one non-sponsored reviewer, extra efforts like that don’t go unnoticed. She bought a pair of leggings from Fabletics and they’ve become her new favorite. She’s also in love with a pair of capris she bought. Overall, she’d recommend Fabletics.