Don Ressler is a businessman and a brand building specialist. He has started several businesses all of which have performed well in the market. In 2001 he sold his first company, FitnessHaven.com to Intermix Media. He partnered with Adam Goldenberg the Chief Operations Officer of Intermix where they founded Alena Media an e-commerce company. Alena Media became Intermix main source of income and in turn generated millions in profit. After Intermix was purchased by New Corp in 2005, the two partners decided to leave the company due to frustrations from the new management.
Owing to the skills they had gained in their former company, Don and Adam decided to start a brand building company which they could run freely. Together with some former employee of Alena, they engaged in a 2 week brainstorming session. The result was the formation of Intelligent Beauty. This company ventured in selling of cosmetics and skincare products online. Their first product was “DERMSTORE”. Two years later, they launched SENSA, a weight loss system. Although the company does not release its financial reports, both SENSA and DERMSTORE are believed to be very profitable.
In 2010, Adam Goldenberg and Don Ressler launched their third company, JustFab Inc. This was a subscription e-commerce fashion retailer. In 2011, Matrix Partners funded this new business with $33 million. In September, KimoraLee Simmons was appointed as the President and Creative Director. By December the same year, the company had reached over 4 million subscribers. After attaining 6 million members in April 2012, the co-founders appealed for funding. By June, Adam Goldenberg and Don Ressler had secured a joint funding of $76 million from a Matrix Partners, Rho Ventures, Crossover Ventures, and Intelligent Beauty their patent company.
Read more: JustFab wants to be the next H&M
With regard to the success JustFab had gained in the past two years, there was the need to expand its markets. The management thought of engaging in selling children’s wear. They purchased FabKid in January 2013. In May the same year, JustFab expanded its wings further by acquiring a European e-commerce Fashion site. Fab shoes came along with its 500,000 members who added up to 1.5 million members JustFab had acquired in the UK and Germany. By the end of 2013, JustFab had acquired over 3 million active subscribers all over Europe.
JustFab conducted a third funding round where they acquired $40 million. They used this finding to launch Fabletics, an e-commerce athletics wear site in collaboration with Hudson. They bought ShoeDazzle their main competitor in selling athletics shoes and expanded their services offline by opening flagship stores. In 2014, JustFab further acquired additional funding of $85 million from Passport Opportunity Fund, Matrix Partners, Shining Capital and Technology Crossover ventures. This enabled the company to have a working capital of $250 million.
With millions of customers all over the world, JustFab is doing well and with time we expect it to be the leading online outfit seller company.