Fabletics is a women’s sportswear and accessories, e-commerce business with a truly unique approach. The company offers its members personalized attire that is chosen for them based on their lifestyle and fashion penchant. Addressing the specific market needs in a creative manner is how Fabletics has been able to thrall or out perform the competition. There are many great businesses with innovative products that do not get recognized or fail within the first three years of operation due to improper, monolithic-like business plan. As with Fabletics, however, turning customers into members plays directly into the psychology of their customers, giving them the experience of exclusivity. Since Fabletics does not care if the customer buys online or in store; and since Fabletics grasp the idea that the in-store offline or online buying participation of each customer is significant, meshing the two Worlds together will indeed cause each customer to experience an elevated “shopping-experience” level unmatched by most retail stores.
Even though Fabletics is challenged with new competitors, they continue to evolve and grow at a rate of 35% year after year, while keeping prices at half of their competitors. This proves that Fabletics’ customer approach to experience appears to be paying off nicely. Customers admire high value brands that inspire. Fabletics business approach makes it clear that when proper emphasis and attention is given to accessibility, people and culture; it is possible to grow a $250 million business in just three years. Thus, they will be opening more stores, adding to the sixteen that are currently open.
Not exclusive to their legions only, women that wear Fabletics find the sportswear cute, comfortable, and stylish. Fabletics delivers designer quality activewear at an unbeatable price. Their competitors struggle to keep up or outcompete Fabletics by mimicking their sportswear design and business model. But what Fabletics has that their competitors don’t is the ability to quickly evolve as they upscale their business, while maintaining an unbeatable price points without compromising product quality. Although at first some are hesitant to sign on, women that join the membership program are not disappointed. To say the least, Fabletics membership idea and how it is implemented is innovative.
As a powerful message to women entrepreneurs, the success of Fabletics points to the benefit of women speaking their minds, going for what they want despite the odds, and listening to your customers always to evolve and grow your business.