Years ago, the only information we had to go by, relating to products and services, were advertisements administered directly from the same source that manufactured them, or, of course, word of mouth, which didn’t get too far without the help of the internet. Today, in the digital age, we can find an abundance of information about, basically anything, online. So, why wouldn’t people share their thoughts and opinions about products and services that they have had good or bad experiences with?
Consumers today are no longer moved by marketing ads that businesses and corporations spend a bundle on distributing to the public eye. Instead, most shoppers base their purchasing decision’s mainly on customer reviews, which they trust just as much as they would an acquaintance’s recommendation, according to studies. Studies also show that customer reviews, contributing to the decision making of final purchases, are rising more and more each year.
The makers of Fabletics, Don Ressler, and Adam Goldenberg, who are also the founders of the TechStyle, leveraged this concept to grow their business, which launched in 2013. The idea for Fabletics, came to the two partners, after realizing that there really wasn’t much variety or stylish work-out gear for women, at a fair price. Because they needed a partner, they brought Kate Hudson on board. Why did they choose Kate Hudson? According to Gregg Throgmartin, the president of Fabletics, “She’s approachable, doesn’t take herself too seriously, and has a very active lifestyle”.
These guys really know how to pick em. From the very start, Kate was heavily involved and right on top of every aspect of the business, working diligently with designers to produce fresh-new styles, going over budgets and marketing plans, executing strategies to coincide with each of the relevant social media platforms, while also being attentive to the sales of clothing and more.
Although, Fabletics had some setbacks at first (like many businesses often do), the team stood committed to providing quality customer service, and took a data-driven approach to find, and produce what the customer desires, as well as, responded to thousands of their reviews. Another thing that was in their favor is, they were fortunate to be able to share resources from their parent company, TechStyle. And, by 2014 they had already experienced growth in the triple digits.
Now, Fabletics has dozens of stores all over, over $235 million in revenue, a whopping one million customers and still growing! Kudos to Kate Hudson for not only being a great actress, but also a successful businesswoman as well. By the way, Kate claims that she will continue to juggle both professions, and states she is proud of her success in business but being an artist is where her heart is at.
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