Adam Goldenberg is an American investor who has founded several companies. He is the Co-Founder and Co-Chief Executive Officer of Just Fabulous Inc., now TechStyle and also Intelligent Beauty, Inc. Goldenberg has an impressive legacy in internet promotion, development and management of products.
On December 7, 2016, Adam Goldenberg appeared on CNBS together with Fabletics owner, Kate Hudson. Hudson said they want TechStyle Fashion Group to go public. Goldenberg said the main aim of the move is “to go bigger.” He added that such a decision needs the involvement of other investors in the company.
Adam Goldenberg projects a subscription fee of $650 million this year by TechStyle Fashion Group. Hudson’s Fabletics brand will contribute around $250 million. Fabletics makes most of its income from its monthly membership fee of $50. Goldenberg said that as the company’s CEO, he has the role of telling people the importance of enrolling in this membership program by Fabletics.
On August 2016, an announcement was made regarding JustFab’s renaming to TechStyle Fashion Group. The change of name was a sign of the company’s continued use of technology by working with companies like JustFab and ShoeDazzle among others.
Read more: TechStyle’s data-driven fashion – CNBC Video
Goldenberg said that when they started the company with Don Ressler, they aimed at altering how shopping is done by enhancing on-trend fashion. He said the company has remained true to its vision. He added that this has helped the company become established in the fashion industry.
In April 2015 on techstyle.com, Goldenberg talked about JustFab and its future at the Splash Oakland, an annual event held by the founder and chief executive officer of Vator, Bambi Francisco. In 2014, when JustFab was just three years old, it earned $85 million through membership. This moved the company’s total earnings to $300 million, making it a “unicorn,” which refers to business with over a $1 billion valuation.
Goldenberg said joining that special club will not affect the way they operate. He added that that round of financing did not have as much impact on how the company operates as other rounds they had previously.
He said investing in the unicorns is worth. He noted that valuations are high in both public and private stock on rgtadvisors.com. He said the unicorns that are overvalued will definitely die and exit.
Goldenberg looked at the apparel and accessories’ $360 billion a year market in North America. He noted that despite the industry not growing, changes are being observed on the way people are shopping. Despite the number of customers that are shopping is increasing every day, there is a significant number that will still opt for storefront retail.
Learn more about Adam Goldenberg: http://www.hudl.com/profile/4913266/adam-goldenberg