Kate Hudson is one of those people who jump straight out of a Hollywood classic. She has graced our screens for a long time, she knows how to walk the red carpet, and she definitely wants to be one of those people who wake up earlier that the rest of us. However, this successful woman is more than just a blockbuster looker; she has been making waves in the fashion world, and her item of obsession is athleisure, a fashion fad that is blowing mainstream niches out of the water.
Meet Hudson, the fashion mogul
In 2013, Hudson became one of the founders of an active wear startup going by the name Fabletics. And as she recently revealed to Squawk Box, she is amazed at the pinnacles she has been able to scale in just four short years. She recalls a recent conversation where a friend wanted to know how much her brand rakes in a year, and even today, her $250 million or something like that’ response seems like something a stranger would have said to her. Yet, it is a reality. Hudson reveals that at times she finds herself gasping at that figure and wondering how that ever came to be.
Early on in 2017, Techstyle Fashion Group, which is Adam Goldenberg and Don Ressler’s umbrella company for Fabletics, came out with the $250 million figure, which means that Hudson’s valuation is right up there with the math. It has also been widely known that Fabletics had a 43% surge in sales in 2016, which is simply mind blowing. This effectively made it the fastest surging niche in Techstyle. To Hudson, these figures represent an achievement as well as a shocker; achievement in that she made it so fast in an unfamiliar world and shock in that it happened within 4 years.
Fabletics comes in with some sweet deals
If you are one of those enthusiastic customers, then you can always register for a $49-a-month subscription. This will give you the opportunity to receive a curated outfit, which you receive after answering a few quick questions related to the kind of outfit that is up your alley. If you are not satisfied with the product you get, there is always an opportunity to exchange it for something more to your liking. You are also allowed to skip as many months as you would like to. What is more, you can now access Fabletics products in the brick and mortar stores, which have expanded to 22 at last count this year.
The Fabletics brand has sought to appeal to a broader audiences with the inclusion of Demi Lovato, the Canadian song bird and Will Claye, who features for F2. F2 is the Fabletics branch that serves up the needs of the male demographic. Speaking to CNBC at the beginning of 2017, Hudson reminisces about what has been a long journey, and indicates that she grew into the brand as she continued to write music about it. At that point, her idea was to model $250 yoga pants.
The emergence of formidable competition
Outdoor Voices and other brands with the same business model came about at the same time Fabletics did, and boy, did they offer some competition. In fact, the appeal was so broad that super celebrities like Gwyneth Paltrow chipped in and were largely responsible for the $22.5 million raised in funding.
Kate Hudson is worth her weight in gold. What made her triumph was the fact that she took Fabletics as more of a hobby than a profit entity. Sure, she did want to fill a market gap in an industry that was largely unexplored. However, at the same time, she was fulfilling a personal need to be involved in something creative. Even with all the energy that she put into it, there was still a dilemma; would acting be the ideal fit for her? Would it help to fall back and create more time for her two young sons? Would Fabletics help her work toward that dream? Would it be possible to create a work-life balance? Eventually, in this battle, Fabletics, won, and over the years, it has been proven to be the moonshot. And yes, it makes the modern woman stronger, because she can make sophisticated fashion choices.
Hudson has had a little help
Kate Hudson has made it this far because of a whole lot of hard work, and a little help from eCommerce veterans, one of whom is Don Ressler, part of the Fabletics fiber DNA. He has been around in the happy times, and has not shied away from offering help in desperate times. Over the course of his career, Ressler has helped deliver billions’ worth of sales and generated hundreds of millions of value.
Sensing what he could do for the industry, Ressler chose to aim higher. This explains why he is a core element of Techstyle Fashion Group. True to his hands-on approach, Don has sought to mold the company’s scope, application and experience in a bid to allow those who work under us to do and feel as they would want to.