Nothing is as creative as a bunch of a jobless tech; e-commerce guru’s brainstorming in a living room for a fortnight. Forget all about the boardrooms. Explosive doesn’t even aptly describe the series of multimillion dollar ideas that have been implemented by Don Ressler and Adam Goldenberg. Mr. Ressler is a serial entrepreneur with excellent skills in online advertising and marketing. Mr. Ressler’s first start up was Fitness Heaven, an online venture that was bought off by Intermix Media. Upon selling Fitness Heaven, Don Ressler began working for Intermix Media, who’s CEO, was Adam Goldenberg. Both Don and Goldenberg hit it off immediately. Later on, Intermix Media was sold to NewsCorp, now jobless; they hatched an exciting start-up that was soon the buzz of Las Vegas. The result was Intelligent Beauty, a brand that brought together the best in fashion and technology.
In March 2010, Don Ressler cofounded JustFab through Intelligent Beauty, an online store that uses technology to bring its clients a personalized stylist who matches an individual’s fashion preferences to celebrity styles. JustFab works through an online subscription system, where members sign up for a monthly subscription. The clients then fill out a questionnaire on their body types and preferred fashion designs. A trained group of fashion designers then matches customers with suitable styles.
In 2011, JustFab changed its name to TechStyle Inc. TechStyle Inc is a conglomerate that merges JustFab and all its subsidiaries including Shoe Dazzle FabKid, and Fablectics. In June 2011, TechStyle received a capital injection of $33 million from Matrix Partners. TechStyle was now set for more global expansion and sourced for more venture capital of $76 million from several investors; Matrix Partners, Intelligent Beauty, and Technology Crossover. This capital helped penetrate into the Canadian, German and U.K markets. By 2013, TechStyle had a significant market presence in Spain and France. Finally, in 2014, a further $76 million was pumped into TechStyle, and at present, its capital base stands at $250 million.
Don Ressler has partnered with several celebrities. In 2010, Kimora Lee Simmons joined his fast-growing JustFab as President and Creative Director. In 2013, JustFab launched another subsidiary, Fablectics where Mr. Ressler works with Kate Hudson in developing trendy sports gear. Fablectics is another online store with a wide variety of fashionable sportswear ranging from yoga pants, athletics trucks, and customized equipment. Fablectics operates a similar platform as JustFab, using a monthly online subscription. As at 2016, TechStyle membership stood at $ 10 million members and looked at projected revenue of $ 650 million annually.
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