Kate Hudson is achieving what seemed to be the impossible. Known for her fashion style and acting talents, Kate Hudson has added successful businesswoman to her resume. Her brand, Fabletics, is one of the most popular fashion brands in the world. Within the company’s first three years, she’d grown a $250 million business.
Fabletics was an idea born from a need for affordable workout attire that was also fashionable. A lot of companies make workout attire, but it’s usually very bland and expensive. Fabletics is the first brand to focus on fashion as much as producing quality products. It also uses a subscription mechanic that it uses to the consumers’ benefits.
Fabletics is one of the most consumer-focused fashion brands in the world now. Nearly everything piece of information Fabletics collects goes toward bettering customer satisfaction. The brand even goes so far as to handpick items for members every month. Fabletics has every new member fill out a fashion and workout questionnaire, which is used to predict what outfits to best select for that member.
Fabletics is pushing far beyond what high-value brands have historically done. In the past, high-value brands just had good prices and quality goods and services. As the current economy has shifted, consumers want more from the favorite brands. Fabletics focuses on staying in its members’ good graces.
After experiencing years of success in the e-commerce market, Fabletics is beginning to experience success with physical stores. As more physical stores open, Fabletics learns more about local markets and how to conform itself to the shifting economy. Currently, Fabletics has 16 stores in places like Florida and California, but it plans on opening more stores by the end of next year. It’s even figured out a way to overcome the many pitfalls that befall other brands.
Part of Fabletic’s strategy is getting to know the local markets. Each store uses that specific results to better fill their shelves with items that local members are more likely to buy. That has allowed Fabletics to succeed in an industry where most fail.
One non-sponsored reviewer even noted that members don’t have to pay membership fees every month. Any month a member doesn’t buy something; they don’t have to pay monthly fees. That means they only pay for the months they’re going to buy something.
Bumble is set to become the first dating app to have a brick-and-mortar storefront. In a recent press release, the company announced that it will open its first physical space in New York City. The pop-up space will act as a place for dates to meet and know each other more. The space will be open to the fans of Bumble and anyone interested in hanging out.
The space is specially designed to bring out the Bumble’s unique flavor. It is also the company’s first step towards formalizing the Bumble community. The move comes at a time when some dating apps are considered taboo by the society. According to Whitney Wolfe, the brand is now more than just a dating app. The public will be proud to be associated with it. Whitney is the app’s founder.
The creation of a Bumble physical space also integrated with the company’s plan of expanding BumbleBIZZ. Through the unit, the brand hopes to venture into professional and social networking. Individuals who are not in need of a date can use BumbleBIZZ as they may be looking for business partners or friends to join their circles.
The Bumble physical space will be open for the next one month. In this period, couples will be free to visit it for a date, while friends can visit to hang out during the week. The space will also host other events. Wolfe will be hoisting a panel of the founders of the Skimm at the property. In addition, Drybar will host an event at the space. This will be followed by another event by Forbes’s Mentor and Mingle session.
Over the years, Whitney Wolfe launched Bumble in 2014. The dating app has gained popularity. Presently, it has over 11.5 million users. The other brands that are owned by the company include BumbleBizz and BumbleFF. Whitney Wolfe was born in Salt Lake City, Utah. She holds a degree in International Studies from Southern Methodist University.
Scott M. Rocklage is a managing partner at 5AM Ventures and based out of Boston, Massachusetts. He was hired by the company in 2003 as a Venture Partner before he was promoted to his current position a year later in 2004. Learn more about Scott Rocklage: http://www.rennovia.com/team/scott-m-rocklage/
In the past he studied at both the University of California, Berkeley Campus and the Massachusetts Institute of Technology where he earned a Bachelors Degree in Chemistry and a PhD in Chemistry respectively. In addition to everything he learned from college, Rocklage also has over three decades of experience in healthcare management. This experience was used to gain FDA approval of the U.S. New Drug Applications for Omniscan, Teslascan and Cubicin. Read more: Scott Racklage | Crunchbase
Before becoming a managing partner for 5AM Ventures, Scott Rocklage served and continues to serve as the CEO and Chairman of Cubist Pharmaceuticals, the CEO and President of Nycomed Salutar, the Board Chairman of Cidara, Rennovia and Kinestral and Board Member of Epirus and Pulmatrix.
He has also been a driving force behind companies such as Catalytica, Relypsa, Miikana, Semprus, Ilypsa and Novira. When he is not completing his duties as a Board Member or as a managing partner Rocklage enjoys inventing. He has been part of over 30 U.S. patents and has over 100 peer-reviewed publications.
Scott Rocklage created 5AM Ventures to put everything he has learned to good use. The inspiration to start his own company came from his love of all things science and his background in capital ventures. Each day at 5AM Ventures is a new adventure. Some days are spent delving into new studies in the fields of chemistry and other life sciences while others are working with prospective companies by looking over their portfolios or teaching their management teams.
Rocklage also attends numerous 5AM Venture Board meetings, which are a common occurrence for a company that is still growing. Rocklage hopes that by combining all of these factors his company can really make a difference in the world. His biggest ambition is for 5AM Venture to be part of the team that is able to target specific mutations or genotypes in an attempt to find a cure for cancer.