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Month: December 2017

Fabletics increases sales by leveraging big data and crowdsourcing

December 28, 2017 • fishcarolina

While business uses big data to determine consumer wants and needs, customers use their own version of that – crowdsourced reviews to determine which products to buy. One business that leads in capitalizing on this trend, Fabletics, stands out.

 

The athleisure brand founded by “Almost Famous” actress Kate Hudson, leverages big data via an incoming customer survey, then encourages customer reviews of each product sold on its site. The Fabletics customer base varies in their favorite form of exercise from runners to weight lifters to yogis, but their common community thread is a healthy, active lifestyle. Fabletics customers know they can trust reviews on the site just as they would their mom’s or best friend’s recommendation because the entire Fabletics community is like them – active and health-minded.

 

The proof that the one-two combination of data sharing works lies in Fabletics’ growth and bottom line. Launched in 2013, the company experienced more than 200 percent growth in four years, earning more than $235 million. It uses a membership plan with an automatically shipped monthly outfit based on each user’s preferences. Although consumers can purchase items without joining, most become members. Fabletics membership surpassed one million in only four years. Membership provides a deep discount on each outfit. Customers buy often and pass along what they thought of each piece of athletic wear providing sales help from the crowd, as well as, data for the company to improve products.

 

Search engines notice the power of the crowd, too. Google ranks businesses and brands with positive reviews higher than others. E-retailers like Walmart.com and Target.com noticed, as well. They began integrating brand reviews from other sites to flesch out items they carry with few reviews. But, Hudson’s brand doesn’t need that.

 

It has the support of its million-plus members, a number that includes celebrities like Demi Lavato, who worked with Hudson on one season’s fashions. Lavato echoes many fans of the brand, saying that its and Hudson’s authenticity drew her to it, as much as the well-crafted workout gear.

 

Again, customer actions back up those words. According to Shawn Gold, Corporate Marketing Officer of Fabletics’ parent company, TechStyle Fashion Group, 85 percent of its sales come from repeat customers. Those customers convert friends – 17 percent of new customer come via referral. Beyond its e-commerce venture, Fabletics opened 22 retail locations to date and plans more. Now, that’s four years of growth that shows the importance of trust and the power of the people.

Weekend #workout plan inspired by @gingerressler's high-power moves ????

A video posted by @fabletics on

Categories: Fashion

How Hussain Sajwani Built A Financial Empire

December 14, 2017 • fishcarolina

DAMAC owner Hussain Sajwani has been an entrepreneur since 1983 when he founded his first business. He has been phenomenally successful and was named by Forbes as one of the top 10 billionaires in the Middle East in 2017. As of September 2017 he was worth about $4.9 billion. He owns a number of companies with the parent company being DAMAC Group. The biggest subsidiary of this is DAMAC Properties Dubai Co. PJSC which is his luxury real estate development firm that builds residential, commercial, leisure, and retail spaces.

As Hussain Sajwani’s companies are headquartered in Dubai, United Arab Emirates, quite a bit of his project are in this city or in the surrounding area. He originally started out as an entrepreneur in the catering industry, a company that he started in 1983 and is still very successful as it operates in several countries serving food to those in hospitals, construction project, and military bases among other locations. His next business was building hotels in Dubai during the time where business professionals were increasingly visiting Dubai. Learn more: http://hussainsajwani.com/

The big opportunity that Hussain Sajwani saw in 2002 was when the government of the United Arab Emirates finally opened the country up to allowing foreigners to buy property which to that point had been forbidden. This was when he founded DAMAC Properties so that he could build properties that would appeal to wealthy foreigners who wanted to own property in his country. He has used effusive marketing in order to make his properties attractive for this foreign investment. He has given high-end luxury cars to buyers of the apartments and villas he has built, for example. One time he gave everyone a Jet Ski that bought a unit at one of his residential developments.

Hussain Sajwani is also a philanthropist. As so many children are poor throughout the world they have clothing that is entirely inadequate. Recognizing this fact, the Sheikh of the UAE launched a campaign to clothe children across the globe. Hussain Sajwani, along with his family, donated a large sum of AED two million that ended up providing clothes to about one million children.

Learn more here: http://www.emirates247.com/news/richest-arabs-youngest-billionaire-wealthiest-family-2016-04-17-1.627434