Adam Goldenberg, the CEO of JustFab, the El Segundo-based VIP membership fashion company, predicts that 2016 will be a banner year for his new company. And because of his history, he ought to know what a big year involves since he has already had several. In 1999 Adam Goldenberg sold his Gaming network company Gamer’s Alliance to Intermix Media and in 2006 he founded an Internet brand incubator, Intelligent Beauty. Four years later, in 2010, Adam Goldenberg started up JustFab and so far JustFab is living up to Adam’s expectations. In 2013 JustFab raised $55 million dollars in funding and also bought a shoe discovery service called ShoeDazzle for the brand. JustFab uses ShoeDazzle to make its subscription base look gorgeous by choosing stylish shoes for them. They also do handbags, jewelry and more. JustFab’s celebrity stylist program is constantly being expanded so much so that it is being used today in not only the United States but also five other countries. Adam Goldenberg has also launched a new venture focusing on athletic clothing called Fabletics.
One thing that has made JustFab so successful is the company’s attention to its metrics. It looks at its numbers daily and because JustFab doesn’t have a corporate mindset, it allows the company to be very nimble and catch things they could be doing better very quickly and make the necessary changes to fix the problem. Adam Goldenberg has also always been a big believer in sharing vital information with the company’s entire team. Sharing information, both good and bad, keeps everyone involved in the company’s success and makes JustFab a better company he says.
Another very important factor is paying close attention to customer feedback. Instead of treating our customers as an afterthought, we have made customer feedback a huge part of our business at http://www.crosscut.vc/adam-goldenberg. This feedback was instrumental in our understanding that our value position of $39.95 for shoes and handbags was a winner for our customer base but had underwhelming acceptance for our jewelry and sunglasses lines. Because of this, we developed a dedicated marketing team whose sole job is to understand and interact with our members and use that feedback to guide our product and pricing decisions.
We also do the same when we are hiring employees. First and foremost we look for passion for our brand in potential employees. We have a unique need and it doesn’t really translate well on a resume which is why we rely more on face to face meetings with potential employees rather than just relying on a resume. As far as we are concerned, we would rather hire an ‘A’ employee who is already passionate about the brand rather than ‘B’ or a ‘C’ employee and try to bring them up to speed.