One of the most notorious retail companies is changing its name
On Tuesday, JustFab Inc., the parent company of membership-based brands like Fabletics, FabKids, JustFab, and ShoeDazzle, announced that it would rebrand itself as TechStyle Fashion Group.
"When Don Ressler and I co-founded JustFab, we set out to change the way people shop by delivering on-trend fashion at an incredible value. We've stayed true to that vision, but along the way the company has transformed into a powerful brand-building platform that is driven by data and personalization," CEO Adam Goldenberg said in a release. "Our new corporate identity captures the essence of what JustFab has become - where Fashion Avenue meets Silicon Valley - and we're thrilled to enter this next phase with TechStyle as our name."
The company has been criticized by customers who say they've been duped into signing up for memberships, charged surprising membership fees, and that it's extremely hard to get out of memberships. In September, a BuzzFeed investigation shed light on these issues.
"When you see a piece like that... it hurts," CEO Adam Goldenberg told Business Insider in a recent interview. "I think, as CEO, [I thought], 'wow, I really need to do a better job of telling our story with data.'"
"We spend our entire lives [asking], 'how do we make our customers happy?'" he said.
The company told Business Insider that it has made changes, from zeroing in on customer service to rolling out online cancellation processes. Goldenberg told Business Insider that customer complaints have reduced, too.
Earlier this year, CMO Shawn Gold stressed that the site has ample disclosures that it's a membership program.
The company says that there are benefits to operating on a membership basis, such as moderating inventory.
Fabletics has also been rolling out brick and mortar retail stores, and Goldenberg aims for there to be 50 to 100 locations within five years.
- RBI Governor Das discusses ways to scale up UPI ecosystem with stakeholders
- People find ChatGPT to have a better moral compass than real humans, study reveals
- TVS Motor Company net profit rises 15% to ₹387 crore in March quarter
- Canara Bank Q4 profit rises 18% to ₹3,757 crore
- Indegene IPO allotment – How to check allotment, GMP, listing date and more
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market