It is really hard to present this group in its integrality since it is such a fascinating company. I am going to state what are the three main pillars of this group in the first place. There are three main brands attach to the Fashion Tech Style group. The Fashion Tech Style Group was founded by Adam Goldberg and Don Ressler.
Just fab the foundation of the fashion tech style group.
The Fashion Tech Style group expose their key to success in 3 main principles.
1- their fundamental belief that today’s brand we shop online.
2-The vertical integration 2. 0. How the costumer and business experience you need to own in order to be successful.
3-The lead to vertical integration 2.0 into an agile acquisition made thanks to the invention of fashion OS. Fashion OS is a system put in place by the group.
“The fundamental belief that today’s brand shop online”, from Adam Goldeberg comes from the fact that first of all those brands are developing online. The reality is that 18% of the sales are online based. The Quantar forecast predicts that in the next four years it will be 30%. Meanwhile, Fashion Tech Style Group believe in 50% retail 50% online. This speculation does not sound totally dementia with the following observation is that the internet age is way faster than the real age. Time and trends on the internet move way faster. Once people develop more and more connection to free data this growth sound possible.
As being said the online cycle is faster. A brand that develops online have a faster growth. You can immediately talk to your costumer. As well you are nationally available in the instant.
For example, Fabletics could have five years equivalent of maturity in just six months. Because the result is instant online. This lead to vertical integration 2.0.
For those who do not know vertical integration is; it is an arrangement in which the supply chain belong to the company.
The Fashion Tech Style Group have invented a system called the vertical integration 2.0. It is about tailoring the experience for a lifetime value customer. You can’t think of yourself as fashion line but as a fashion e-commerce company. All of your services have to be in-house. It needs to be able to move quickly and see what changes have to be made as quick as possible. Instead of being and using a third party tool everything is being controlled.
Though fashion OS which is a genius invention. You can have total control of your product and leads to what is called an agile integration. It is a fully integrated system of 6 modules, that controls everything. It is a single cohesive system where all the data can be usable at any time. This leads to agile acquisition. It is tested on data that they had acquired the previous day.
For example, in January during one of the big push for Fablathetics, there was on the first day 4 landing pages created and tested as well as, 50 different creatives. On the next 10 days 600 different adds and 30 landing pages where being tested based on the first-day data. 2 weeks later they succeeded to double the number of customers compared to day 1.
We can see the exponential growth and an extremely fast pace cycle. Now, this article presents the fashion tech style group. However, if I chose to spend a lot of time in it its to help you. Maybe your scale would be different. Probably, however, if you are a small internet company, however, you can run as well the same tests. In your landing page and in your advertising, to see what works and what does not base on your data. Maybe your pace will be different. Everything that is online is always subject to fast evolution.
This blog post is by far one of my most fascinating and challenging that I have made.We are talking about three companies. Working under a data system where the store is totally tailored to you. You have to answer a data questionnaire only related to your taste as if you would shop with a friend. In order to create that effect, a series of questions are being asked from the site. Each Brand has that and you cannot buy from the website unless you have answered the question. The price point is really attractive and we are talking about 85 Million products shipped.
Fabletics is also a physical store. However, the store is intertwined closely with the website. As stated the website always as you a series of questions. Once you enter this series of questions. You are what Fashion Tech Style Group call a VIP customer. A VIP costumer entails that they are doing everything for you. They know your history your taste and can tailor a store for you. Not an article that was being seen but an entire store based on your taste. If you think about it it is really shopping with a friend. Who does not dream about having their own store tailored for you ?
All of the three brands, Shoedazzle, Justfab, and Fabletics is totally different from one another however the group made the councious descision to make them opperate on a cohesive costumer acquisition on their website. The costumer is immediatly integrated and the fast fashion bring all of its sense when the process is as fast as the fashion being sold. The receipe is large volumes, in-house aquisition, fast testing and advertising. I really chose to do this blog post to introduce you to what i believe is the future of fast fashion.
As well as, helping you with your e-commerce. Even though your scale will be different you can still implement some of the strategy being used by Fashion Tech Style Group. Even though they are physical retail store for Fabletics, those are brand made online and developed online and they are structured like the online brand. We can build what we dream it does not have to be wishful thinking. However, pay close attention to the data that is being given to you and built on it.