Adam Goldenberg is a co-chief executive officer of JustFab, an e-commerce retailer that deals in the sale of clothes, bags, and other accessories. JustFab is a conglomerate that owns Fabletics, FabKids, and ShoeDazzle. Goldenberg is responsible for the success of this company. He oversaw the rebranding of this fashion heavyweight to Techstyle in 2016.
Goldenberg’s thoughts on the company’s valuation
In 2014, JustFab closed an $85 million round of funding under the management of Adam Goldenberg. The investor that led this financing was Passport Special Opportunity Fund in collaboration with Matrix Partners, Technology Crossover, and Shinning Capital. Based on the sources close to the company, this round of funding came with a $1 billion valuation. This business valuation came about because of the increased number of investors. According to Goldenberg on rgtadvisors.com, JustFab designs its products and manages its inventory. By so doing, JustFab can provide better terms to its suppliers and enhance its growth as a business. When asked about future endeavors, Goldenberg said that the company initiated an IPO and secured about $500 million worth of revenue in 2015.
Read more: TechStyle’s data-driven fashion – CNBC Video
Goldenberg oversees the renaming of JustFab
In 2016, JustFab changed its name to TechStyle Fashion Group. Goldenberg and his team decided on this name to put emphasis on the company’s roots, which is technology. During the launch of this new designation, Goldenberg emphasized that TechStyle, previously JustFab, has stayed true to its vision. He also added that the company has come a long way and is a top brand-building platform in the United States. This new name captures the identity of the business where fashion and Silicon Valley works together. The new corporate marketing officer, Shawn Gold, hinted this news to the public according to techstyle.com. Shawn Gold joined the company to enhance consistency and help promote marketing efforts of each brand portfolio.
Goldenberg has created other fashion brands, such as Intelligent Beauty. He also founded Gamer’s Alliance, Inc. in 1997 and sold it two years and four months later. Goldenberg served as Intermix Media’s chief operating officer for close to seven years. It is at this firm that he began venturing in e-commerce businesses. He co-founded Intelligent Beauty in 2006 upon realizing that there was a lucrative niche in beauty, personal care, and fashion spaces. Within a period of four years, this company became one of the largest marketing and advertising firm in the fashion industry. He is the current director of DermStore.com, one of the top beauty retailers. Goldenberg has been serving as the head of this entity since January 2009.
Learn more about Adam Goldenberg: http://www.hudl.com/profile/4913266/adam-goldenberg