Adam Goldenberg is the chief executive officer of JustFab, which just went into a recent name change, dropping their old company name “JustFab” in favor of a new catchy-sounding name: TechStyle. Adam Goldenberg had a recent interview with CNBC.com and he explained why the company has to go under a change of name. The rebranding was decided upon the growing popularity of their brand, and more people are subscribing to the service that they introduced, according to Adam Goldenberg. The company is also getting a lot of positive feedbacks lately, and according to Adam Goldenberg, they will have to shift their focus on expanding the brand and making better improvements compared to their JustFab years. Adam Goldenberg stated that what they are trying to reach for TechStyle is for it to be the leader in brand building, and not just focusing on retail on fundacity.com. He believes that the rise of e-commerce in the future would open up a lot of opportunities for Techstyle.com, and these opportunities are just waiting around the corner. They are also aiming to build brands from scratch at a faster pace, thanks to their new found sales model and their online subscription system.
TechStyle managed to become one of the most observed new found companies in the e-commerce and internet retail industry, because of how fast the company grows. According to Adam Goldenberg, they are doing their best to limit the managing of the company to themselves. They do the designing, manufacturing, and all other processes in the business. They have to be focused on these things because this is what drives their company to success. Without these three, their business would surely fall. Under the leadership of Adam Goldenberg, the company managed to secure some funding, totaling to $85 million and its valuation is at $1 billion, and they noted this feat as a company milestone at http://rgtadvisors.com/bio/adam-goldenberg/.
The company was founded in 2012, and it managed to grow exponentially in a short period of time, thanks to the assistance of Adam Goldenberg’s friends and colleagues. They have acquired small businesses in the process, and they have been receiving a number of finances as well. Other brand names have made deals with them, and as of now, Fabletics is offering stylish workout clothes that would fit anyone, since it doesn’t have any size limit. TechStyle wanted to expand and is now planning to open up 100 new physical stores across the United States.