Kate Hudson’s Fabletics has proved to the world that beating e-commerce giants such as Amazon isn’t a hard task as long as a company employs a good marketing strategy. In less than five years, Fabletics has grown to garner more than 20 million followers on Twitter. Fabletics growth hasn’t been on social media alone, the same figures have reflected in the company’s revenues. Fabletics reported annual revenues of more than $250 million last year. The company is also increasing the number of physical stores where they have managed to open fifteen stores so far. The exceptional growth witnessed on Fabletics did not come on a silver plate. It is as a result of hard work and strategies put in place by Kate Hudson and her team.
A reputable statistics firm in the U.S.A recently conducted a research where they found out that the Athleisure sector will represent total sales of up to $80 billion by the year 2020. These figures have helped to push the growth in the industry where the sector recorded annual sales that amounted to $44 billion.
Fabletics have utilized various strategies that have set them apart from their competitors. One of the techniques employed by Fabletics is known as reverse showrooming. Whereas other retail outlets are going down because of showrooming, Fabletics decided to reverse the trend, and they are already leveraging from it. Instead of customers going to the physical stores to window shop and buy products elsewhere, Fabletics allows their customers to shop online and then visit the physical store to buy the products that they need. Fabletics also offers lower prices than their competitors, which has attracted more customers while making others loyal to the brand.
Fabletics stands at a better chance of succeeding in the e-commerce industry by having Tech-Style Group as their parent company. The TechStyle Fashion Group is currently valued at over one $1 billion. Kate Hudson is part of the team that is working hard to ensure that the company hits the ceiling in the coming years. Kate Hudson has utilized her role as entertainment icon to market the market and push their campaigns.
Besides, Kate Hudson also advises other young entrepreneurs by providing them with insights on how to run successful businesses. Kate advice to entrepreneurs is to identify market opportunities that are not exploited when looking for business ideas. An entrepreneur should also understand working marketing strategies that will work in the new markets. In her case, Kate utilized fair pricing coupled with reverse showrooming to grow her business.