Kate Hudson’s Fabletics and its Winning Strategy
Just a three-year-old workout fashion brand is creating a revolution in the clothing industry with technology innovation, and high-quality products. It is about Fabletics, and the online brand has reached a business of $250 million per year by 2016 financial year. When the firm founded by Kate Hudson in 2013, nobody expected a great success considering the reputed online retailers such as Amazon.com and other endless brands. If one analyzes the strategy followed by the brand, he would surely understand that the creativity and hard work of the team have actually paid off. Its reverse showrooming, efficient use of data, subscription plans, and high-quality and high-value products have helped the firm to bask the success.
The reverse showrooming was really innovative and crucial to its growth in the market. Most of the online buyers were unhappy with the fact that they can’t check the product physically until it gets delivered to them. Also, retail store buyers were unhappy with the price factor as online stores were selling at a lesser price and offer a diverse category of products. Fabletics decided to mix both online shopping experience and retail stores. It set up a number of brick and mortar stores in all the major cities of U.S. along with the online store. By using online data, Fabletics identified the popular products and listed it on the physical stores. This gave people an option to check popular products at the stores and buy either online or offline.
In a recent interview, Hudson explained her success mantras for tasting success. It includes identifying marketing opportunities, staying hands on, depending on big data for better decisions, getting inspired, and believing oneself and taking risks. While other brands are found to be expensive, Hudson made the Fabletics products at a discounted rate with an innovative subscription plan called “VIP Membership” that charges $49 per month. The team is also focused on providing the products in all sizes to attract all the classes.
She keeps a clear focus on moving numbers and checks weekly data about the products that are selling out and which are not, and the brand introduces new products every month. Hudson is also batting to apply creativity in the marketing to reach more people. Every new member to Fabletics should attend a quiz about their preferences while registering with the retailer. With that preferential data, Fabletics chooses right products for them using big data. An option for anyone who is tired of getting unwanted and unfavorable products; register with the site, take the Lifestyle Quiz and get the preferred products of choice.
Win a surprise for your squad! Post pictures of you and your squad using #FableticsSquad & #Contest in the caption for a chance to win the ultimate squad surprise ?????????? US only. 1 winner and up to 4 friends will be chosen and notified via DM every Tuesday. See official rules ?? http://bit.ly/FableticsSquad