JustFab

JustFab
Type Private
Founded March 2010
Country of origin United States
President Kimora Lee Simmons
Key people Don Ressler and Adam Goldenberg, Founders
Industry E-commerce
Divisions
Website JustFab.com
Registration Required
Available in English
Current status Active

JustFab, formerly Justfabulous, is an online subscription fashion retailer that carries selections of shoes, handbags, jewelry, and denim.[1] It offers a personalised shopping experience based on members' indicated fashion preferences.

JustFab parent company, JustFab Inc., consists of a portfolio of online subscription service brands including FabKids, ShoeDazzle and Fabletics.[2]

History

The company was founded by Don Ressler and Adam Goldenberg in March 2010.[3] Kimora Lee Simmons joined JustFab as President and Creative Director in September, 2011.[4]

JustFab received $33 million in funding from US venture capital firm Matrix Partners in 2011.[3][5] In 2012 the company received an additional $76 million from Matrix Partners, Rho Ventures, Technology Crossover Ventures, and Intelligent Beauty[6] and expanded its operations internationally to Canada, Germany, and the UK.[7][8]

In January 2013, JustFab acquired children's fashion subscription company FabKids. Despite the similarity in their names, there was no previous association between the two companies.[9][10]

Celebrities who have released collections through JustFab include singer-songwriter Avril Lavigne[11] and YouTube beauty gurus Elle and Blair Fowler.[12]

A television show about JustFab and Simmons titled "Kimora: House of Fab" premiered on the Style Network in January 2013. The show covered daily life at the JustFab offices, Simmons’ role as President and Creative Director, and the duties of the company's marketing, merchandising, and public relations departments.[13][14]

JustFab continues international expansion into Spain and France after acquiring The Fab Shoes in May, 2013.[15]

JustFab acquires rival shoe scubscription service ShoeDazzle in August, 2013. The two companies will continue to run as separate brands.[16]

In September 2013, JustFab’s CEOs Adam Goldenberg and Don Ressler announced it has closed $40 million in its third round of funding to accelerate its already-fast international growth and enter new product categories.[17]

In August 2014, JustFab closed an additional round of funding for $85 million which was led by Passport Special Opportunity Fund.[18]

Membership

Membership costs $39.95 per month (United Kingdom: £35.00 per month) and is automatically conferred upon making a purchase. The registration process requires members to complete a survey regarding their fashion preferences. At the beginning of each month, a "personal stylist" selects items based on these preferences, and the member can choose one of the selections, request new options, or skip the month altogether without charge.[19][20]

In December 2011, JustFab reached 4 million members.[21] By January 2013, this number had grown to 10 million.[22]

Criticism

The company's business model and credit card practices have been criticized as deceptive.They deduct money from account without notifying users.[23][24] In October 2011 a national class action lawsuit was filed against Just Fabulous, Inc.[25]

References

  1. ↑ crunchbase. "JustFab." Retrieved Feb 22, 2012.
  2. ↑ JustFab Inc. "." Retrieved Jan 24, 2014.
  3. ↑ 3.0 3.1 Tomio Geron, Forbes. "Former Intermix COO Raises $33M For Fashion Brand JustFabulous." Sept 21, 2011. Retrieved Feb 22, 2012.
  4. ↑ Melissa Magsaysay, LA Times. "Kimora Lee Simmons steps into her new role at justfab.com." Sept 22, 2011. Retrieved Feb 22, 2012.
  5. ↑ Leena Rao, TechCrunch. "Gilt Groupe Investor Matrix Partners Leads $33M Round In Fashion Retail And Styling Platform JustFabulous." Sept 21, 2011. Retrieved Feb 22, 2012.
  6. ↑ Ingrid Lunden, TechCrunch. "JustFab Just Nabbed Another $76M To Take Its Fashion Platform International And Beyond Shoes." July 26, 2012. Retrieved Aug 1, 2012.
  7. ↑ AllThingsD. "JustFab Raises $76 Million to Get Ahead in the Frothy Fashion Business." July 16, 2012.
  8. ↑ "JustFab Expands Reach to Brings Hot Fashion to Germany, the UK and Canada". Retrieved 20 March 2013.
  9. ↑ TechCrunch. "JustFab Acquires Subscription-Based Kids Clothing Service FabKids." January 18, 2013.
  10. ↑ PandoDaily. "Mother and child reunion: JustFab buys FabKids." January 18, 2013.
  11. ↑ Rachel Brown, Women's Wear Daily. "JustFab Links With Avril Lavigne's Abbey Dawn Line." Feb 7, 2012. Retrieved Feb 22, 2012.
  12. ↑ Sacramento Bee. "JustFab.com Announces Exclusive Collection with Online Fashion and Beauty Gurus Elle and Blair Fowler." October 16, 2012. Retrieved Oct 22, 2012.
  13. ↑ TechCrunch. "Kimora: House Of Fab Brings TV Audiences Behind The Scenes At Fashion Startup JustFab." January 23, 2013.
  14. ↑ WWD. "Kimora Lee Simmons' New TV Gig for JustFab." November 27, 2012.
  15. ↑ PandoDaily. "JustFab acquires The Fab Shoes in search of European domination, approaches $250M revenue rate." May 23, 2013.
  16. ↑ UpStart Business Journal. "Why the JustFab-ShoeDazzle merger was a fashion do." August 22, 2013.
  17. ↑ http://venturebeat.com/2013/09/26/justfab-sews-up-40m-to-become-global-fast-fashion-empire/
  18. ↑ http://pando.com/2014/08/28/breaking-justfab-raises-85m-at-what-sources-say-is-a-1b-valuation/
  19. ↑ http://www.justfab.com/how-justfab-works.htm
  20. ↑ Tricia Duryee, AllThingsD. "JustFabulous Secures $33 Million to Make Subscriptions Fashionable Again." Sept 21, 2011. Retrieved Feb 22, 2012.
  21. ↑ Andrea Chang, Los Angeles Times. "Online shoe clubs are in step with fashion-forward women." Dec 29, 2011. Retrieved Feb 22, 2012.
  22. ↑ Yeung, Ken. "JustFab gives its 10 million members access to children’s clothing with acquisition of FabKids". The Next Web.
  23. ↑ Ycombinator Hacker News "https://news.ycombinator.com/item?id=6455391"
  24. ↑ Scambook Report "http://www.scambook.com/company/reports/146/JustFabcom"
  25. ↑ Scambook Report "http://www.scambook.com/blog/2011/10/justfab-com-justfabulous-class-action-lawsuit/"

External links