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Yahoo
10 hours ago
- Business
- Yahoo
Fabletics Elevates Key Leaders as It Eyes $1 Billion Milestone
Fabletics has announced two key executive leadership Bhatia, who previously served as chief operating officer, has been elevated to president and COO. She has driven initiatives across e-commerce, production, operations and technology, while leading the brand's expansion into new channels. Her role now spans product creation, retail, wholesale and international Gomez, formerly senior vice president of brand marketing, is now chief marketing officer. She will lead all brand, digital innovation and customer engagement initiatives. According to Fabletics, Gomez has been leveraging customer insights to inform impactful marketing in 2013 and headquartered in El Segundo, Calif., the activewear brand operates on a membership-based model rooted in e-commerce and supported by a growing number of retail stores. Owned by TechStyle Fashion Group, Fabletics is on track to exceed $1 billion in revenue, according to Adam Goldenberg, Fabletics' cofounder and chief executive officer. He, Bhatia and Gomez have worked closely to guide the company's growth.'We're introducing new store formats and pursuing plans for international expansion — all while continuing to deliver the innovative partnerships and best-in-class product we are known for,' said Goldenberg in a statement. 'We are thrilled to have Meera and Carly expand their roles and position us for continued success.''I am honored to assume the roles of president and COO at Fabletics during a time of immense growth and international expansion,' said Bhatia. 'Fabletics is a driving force in an evolving activewear industry, leading from design, product, technology and community. I look forward to helping lead the brand to new heights in my new role.''I joined Fabletics last year because I believe it is at the cutting edge of customer engagement, and is truly reinventing the activewear space,' said Gomez. 'Stepping into the CMO role, I am excited to unlock new ways of elevating our brand and delivering an impactful customer experience that propels Fabletics forward in this next chapter.' More from WWD David Beckham Launches Beeup, Honey Fruit Gummies, With Shaun Neff Tracy Anderson Introduces New Studio Concept in Santa Monica: Privé Kathy Gohari Named President of Rodeo Drive Committee Best of WWD Kate Middleton's Looks at Trooping the Colour Through the Years [PHOTOS] Young Brooke Shields' Style Evolution, Archive Photos: From Runway Modeling & Red Carpets to Meeting Princess Diana The Most Memorable French Open Tennis Outfits With Serena Williams, Naomi Osaka & More [PHOTOS]
Yahoo
21-03-2025
- Business
- Yahoo
Fashioning Growth and Precision with Digitally-Native Fabletics
Digitally-native activewear startup Fabletics was founded in 2013 Company has grown revenue 30% annually, now approaching $900 million and is profitable Employs a unique VIP membership model that is free with big discounts, other perks VIP program helps Fabletics command a loyal following and precise inventory forecasting Plans to double store count to 200 by 2030 including international additions By In the old days, apparel retailers had no choice but to make risky bets when it came to forecasting customer demand. But in the new age of digitally-native brands, the smartest players can lean on data from a new generation of loyalty programs to remove most of the guesswork – making both customers and investors happier. One such company to watch is privately-held activewear pioneer Fabletics, which was founded in 2013 with a focus on fashion-forward designs and performance technology. The company is profitable and has grown to top line consistently at 30% annually, approaching $900 million in annual revenue. Success has been driven by strength in its core women's division along with newer, high-growth categories such as men's along with medical scrubs. Fabletics, led by successful entrepreneur and CEO Adam Goldenberg, stands out as a company that cultivated a brand in a purely digital setting before opening its first physical store. Mr. Goldenberg brings a serious track record to the table: Working with Fabletics co-founder Don Ressler, he has generated over $10 billion in sales through TechStyle Fashion Group, which launched digitally native fashion brands Savage X Fenty, JustFab, ShoeDazzle, FabKids, and Yitty – in addition to Fabletics. One unique feature of Fabletics is a membership model that benefits both the company and its customers. It's free to be a VIP member, which includes benefits such as 20%-30% off all purchases, exclusive offerings, access to thousands of workouts on the FIT app and more. In return, the company gets to collect valuable data around sizes, frequency of purchases, and style preferences. Over 70 billion data records are processed annually with 80% of customers always shopping logged-in as members. The VIP program not only creates loyalty and engagement, but precise inventory predictability. Fabletics boasts 95% accuracy in sizing and demand forecasting with inventory informed by member sizes and preferences. That translates to less than 1% inventory obsolescence and an industry-leading return and exchange rate of just 7%. Fabletics also offers VIP members the chance to buy $100 in credits for only $59.95 each month, but it's not required. Members can simply toggle the feature off at the start of any given month and won't be charged but still enjoy all other VIP benefits. For context, even big and sophisticated retailers struggle with forecasting and inventory planning. Take Lululemon Athletica, which has multiple high-profile stumbles with inventory over the years. As recently as last year, Lululemon had to cut sales guidance in part due to missteps in product strategy and execution. Fabletics can also be very deliberate about its brick-and-mortar expansion. While traditional retailers often targeted several hundred or even thousands of stores, Fabletics is much more deliberate. The company has over 100 stores and plans to gradually double to about 200 by 2030. Data also helps with location selection. Fabletics knows where its best shoppers are located and can choose locations with real information – again removing much of the guesswork. The company, which has posted same-store sales of 20% or more recently, has its sights on new territories. It announced its expansion into Mexico through a partnership with omnichannel retail group Liverpool, which will operate retail, and wholesales operations – beginning in the second quarter. It will also explore expansion into additional regions like Central America, South America, Australia and the Middle East. Fabletics has a rare combination of loyal customers, the tech to track them and a track record of near-flawless execution. While the company remains private for now, investors following retailers should keep a close eye on this trailblazer. Contact: Editor@
