JustFab expanding into France and Spain
By FashionUnited
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JustFab acquires European footwear website The Fab Shoes
The acquisition of The Fab Shoes follows on from the US sites successful launch in the UK and Germany last year, which has since gained 1.5 million members in European. With the inclusion of the French and Spanish sites, JustFab extends its European reach to more than two million members, a fraction of its worldwide membership which is more than 15 million in six countries.Commenting on the acquisition, Ressler, said: "The Fab Shoes has done an excellent job in building its business since they launched just over a year ago.
“With our success in Germany and the UK, we were ready to take JustFab into new territories. After getting to know the team at The Fab Shoes, we saw a natural fit for the businesses; it enables JustFab to quickly extend its European reach and gives The Fab Shoes a new way to distribute quality products to customers through our flexible subscription plan."
Szefner, added: “Scale and infrastructure are key if you want to grow quickly in the fashion business, while The Fab Shoes has had a lot of early success, we are thrilled to take our core business to the next level.
“With JustFab, we can provide our existing members and potential new customers with excellent styles, quality and service for an outstanding shopping experience."
JustFab fashion subscription models, offers members styling advice alongside new and customised selection of shoes, handbags, and denim each month, at affordable prices, with each pair of shoes from the UK site costing 35 pounds. For 2012, the site hit its goal of 100 million US dollars in revenue, and the US site is predicting that 2013 could be another “high-growth year”, with Goldenberg stating that the business is on track to reach “250 million US dollars in revenue by the end of this year”.
In addition to its international expansion, JustFab is also keen to build its category offerings, as the site states that 30 percent of its revenue is generated from categories outside of shoes and it is looking to launch more fashion areas by the end of the year.
JustFab
Kimora Lee Simmons
The Fab Shoes