Don Ressler and Adam Goldenberg are Co-Founders and Co-CEOs of JustFab, a fashion company. They founded the company back in 2010 with very limited knowledge on fashion. However, they were both proficient in spotting trends, growing businesses and brands into industry leaders.
Over the years, Don Ressler has been affiliated with companies such as Intelligent Beauty, JustFab, Intermix, and FitnessHeaven.com. One of the most valuable lessons Ressler continues to share his key to success is finding a right partner to grow.
Intermix Media purchased fitnessHeaven.com, his first start-up company, in the year 2001. After the acquisition, the partnership between Adam and Don was born. Adam at the time was the COO of Intermix. The partnership resulted in the formation of Alena media which generated millions in revenue.
Intermix was later acquired in 2005 by media conglomerate News Corp and soon after Don Ressler and Adam left due to unnamed differences. They later founder Intelligent Beauty, a branding company which received funding of $43 million in 2008 from Technology Crossover Ventures.
In 2010, they launched JustFab under Intelligent Beauty as a subscription e-commerce fashion retailer. Barely a year after JustFab’s inception, it received a funding of $33 million from Matrix Partners. In 2011, Kimora Lee Simons, a celebrity, joined as President and Creative Director in the last quarter. The addition of Kimora Lee propelled subscribers to over 4 million by December of that year.
By April of 2012, they crossed the 6 million subscription threshold and as a result secured a $76 million funding from different beneficiaries including Rho Ventures, Matrix Partners, and Crossover Ventures that June.
JustFab recognized that most of their clients were parents and therefore started seeking opportunities to tap into new markets. In 2013, JustFab purchased FabKids which was a children’s subscription service. By this time JustFab had a strong online presence in Europe. It had over 1.5 million subscribers from the UK and Germany alone.
In May of 2013, JustFab purchased Fab Shoes, which had over 500,000 subscribers in Spain and France. By the year’s end, they had acquired 3 million subscribers in Europe. JustFab launched Fabletics and partnered with Kate Hudson to endorse it. Their shrewd nature in business was portrayed when they purchased ShoeDazzle, a rival company and opened their flagship store ending a very eventful year for JustFab.
In 2014, JustFab was at it again; they closed an $84 million deal bringing the company to a $250 million market capitalization.