One company that has seen a lot of recent media for its extreme success in a heavily saturated market is Fabletics, brainchild of actress and fitness lover Kate Hudson. The company has generated upwards of $250 million dollars since its founding three years ago and is making waves for its unique membership model and “reverse showrooming” approach. This approach invites users into a virtual membership community where products are showcased rather than into a physical store to make a purchase, where many go simply to peruse and then later buy online.
Fabletics and Kate Hudson were recently showcased in a CNBC article highlighting the companies skyrocket growth. The article focused on how the brand had seen a 43% growth in 2016, in a market that was not only saturated with other “athleisure” names that had been around for a good deal many years, but on how they beat out competitors to become the top brand in the category.
So how did they do it? What’s the secret recipe for success? That comes from the top down. The article outlined Kate Hudson’s five rules for success of her, or any brand, and they were incredibly enlightening.
First, she recommended identifying market opportunities. When she saw that fun “athleisure” clothing was becoming more of a trend than a piece of the wardrobe made for function, she looked at the gaps in the offerings. There were the traditional function staples and then there were extremely high end companies offering leggings at an upward of $250 – obviously not ideal for many people. After identifying that gap in the market, she moved to her second tip – rely on big data – to profile what her clients actually wanted and then to craft clothing and price points that fit the consumers’ needs, rather than just focusing on a small niche.
From there, Kate recommended that you continue to stay hands on with your brand, even after a success as massive as Fabletics. She also recommended to ensure you stay inspired and believe in yourself and don’t be afraid to take risks. These last two led to her recent inspiration to add a plus-size component to her line, meaning her active wear will be accessible to all body shapes and sizes.
Interested in finding out more about this rapidly growing brand? There is a fun (and free!) Lifestyle Quiz on the website that allows visitors to answer simple questions that create a unique style profile of their exact tastes in fitness wear.