Turning a flagship idea into a $1 billion business in less than five years may sound, well, basically impossible. That is unless you are entrepreneur Don Ressler who, together with his partner Adam Goldenberg, founded JustFabulous – the web-only, fashion-focused conglomerate in 2010. JustFab utilizes a perfected subscription model, extremely well-priced fashion and a one-of-a-kind personalized shopping experience becoming one of the internet’s most popular ‘unicorns.’
Don Ressler is no stranger to brand building, having generated another $1 billion in sales and raised more than $100 million in capital for various Internet companies since 2001. Don Ressler and Adam Goldenberg first collaborated in 2006 when the pair started their first e-commerce company in the beauty business. It did not take long to realize there was a niche in the market that needed to be filled and fast.
There are of course key elements you will need when building your billion-dollar business; one of them being a clear concise vision. Ressler and Goldenberg envisioned an exciting and engaging platform. They created their efficient subscription model of a monthly $39.95 that gives members access to an array of shoes, handbags, and accessories tailored specifically to the taste of each member. You may also need an endorsement or two. For JustFab, it was Don Ressler’s friend, the mogul Kimora Lee Simmons who put her fabulous stamp on the budding company.
Kimora not only endorsed the brand but she joined the team, becoming the president and creative director at http://perezhilton.com/tag/don_ressler/#.V4Ah_46RKGg. JustFab experienced an unexpected, experiential amount of growth within the next two years, leaving the co-founders to search for more investors to keep up with their point of sales.
The rapid success of the company is awe inspiring. By October 2013, JustFab went on to acquire competitor ShoeDazzle, FabKids, the European fashion e-commerce site The Fab Shoes and they also created Fabletics headed by Kate Hudson. That same year, president Kimora Simmons opened a flagship, full retail location in Los Angeles. By the summer of 2015, Don announced FL2, the Fabletics line for men. There are also plans to expand their now 6 brick and motor locations to at least 70 locations before 2020.
Don Ressler is a true representation that a relentless work ethic and an undeniable entrepreneurial spirit may be all you need to start an over billion-dollar empire. You might even change the game along the way.