Why Adam Goldenberg and Don Ressler are Forward-Looking Fashion Entrepreneurs

Adam Goldenberg and Don Ressler are the founders and co-CEOs of fashion retailing giant, TechStyle Group. This is a conglomerate that incorporates fashion and technology to offer clients high-value brands. TechStyle Group encompasses several subscription-based beauty, accessories and clothing companies. Even though the two entrepreneurs didn’t have prior experience in managing a fashion brand, they have transformed TechStyle Group into a colossus in the industry.

 

Since its formation in 2010, TechStyle Group has carved a niche for itself by specializing in high-end lifestyle and fashion brands. The firm has similarly endeavored to personalize its clients’ shopping experiences. It boasts a membership portfolio of over four million subscribers. The company mainly sells shoes, clothes, and workout apparel.

 

What has stood out during the company’s existence is the ability of its co-CEOs to reinvent the fashion industry through innovation, personalization, and vertical integration. The duo oversees all operations besides providing insightful leadership to the conglomerate.

 

Global Outreach and Innovative Business Model

 

Despite its tentative beginnings, TechStyle has morphed into a leading player in the online fashion retailing industry. In the process, the conglomerate has also managed to stamp its authority in the global fashion market. Apart from its online store, TechStyle brands are available in physical locations in the US, Germany, Canada, Netherlands, Denmark, the UK, Sweden, and France.

 

TechsStyle’s major brands include ShoeDazzle, JustFab, FabKids, and Fabletics. The company’s subscription-based business model allows members to choose items that suit their preferences. After that, the company sends them items on a monthly basis based on their styles and preferences. Clients can choose to accept or reject items submitted to them. Upon acceptance, the cost of the item is automatically subtracted from their credit cards. This saves them a lot of time, which would have otherwise been spent visiting fashion stores.

 

TechStyle’s Funding History

 

Upon its formation, the company received its initial primary financial backing amounting to 33 million dollars from Matrix Partners, a venture capital firm. In 2012, the investment firm injected a further $76 million into TechStyle. This time round, it partnered with other venture firms including Technology Crossover Ventures and Rho Ventures.

 

This financial boost enabled TechStyle to acquire brands such as FabKids and ShoDazzle besides expanding its market outreach. Ressler and Goldenberg sought a further $40 million in 2013, which enabled TechStyle to increase its product line. In 2014, a consortium led by Passport Special Opportunity Fund injected $85 million into the firm, thus raising its total capital base to over $250 million. https://onmogul.com/adam-goldenberg

The Entrepreneurship Journey of Don Ressler

Don Ressler is one of the fashion industry’s most successful businessmen. He is renowned for various companies that he has established with Adam Goldenberg who is his business associate. The two currently own a multi-million dollar business empire. Their most profitable company is known as TechStyle, and it has a clients’ base in the United States and Europe. Don and Adam act as co-CEOs of the fashion business, and they have strived to grow it into an industry leader. Ressler had ventured in different sectors before he started working with Goldenberg. This has enabled him to be highly skilled in the development of products, branding, management, and internet marketing.

 

The two entrepreneurs started working together while at Intermix Media. Adam formerly served as the COO of Intermix Media and was later appointed to act as the president of the company’s performance marketing group. During that time, Don was running a highly profitable fitness company that was known as FitnessHeaven.com. The firm offered tips to clients on how they could stay fit. Intermix Media later acquired the fitness enterprise, and Ressler moved to serve the company. He started working with Adam Goldenberg while at Intermix Media. The two business partners’ first idea was Alena Media. The enterprise generated millions for Intermix Media, which was its mother company. Adam and Don left Intermix Media after the News Corporation acquired it.

 

Ressler and Goldenberg have had a very successful partnership. They are the proprietors of Intelligent Beauty, which is a top branding firm that they founded in 2006. The company has generated more than $100 million, and it has established beauty and health businesses. Examples of the enterprises that it founded are SENSA and DERMSTORE.

 

Intelligent Beauty started as Brand Ideas. Don and Adam invited former employees of Alena Media to assist them in generating the idea of the business. They later founded the company and made a fortune by promoting new brands on YouTube and other online platforms. The profits that they raised enable them to establish JustFab. The company has specialized in dealing with the retail of fashion products through an excellent subscription plan. It has been in business for about five years and has managed to attract clients from across the United States and different European countries. JustFab has received an estimated $250 million from various investment companies. Its name was changed to TechStyle, and it currently owns subsidiaries that include Fabletics and FabKids.