Launching trendy outfits on a regular basis is a strategy JustFab utilizes to remain fully relevant in the rapidly changing fashion industry. The firm appointed Todd Tappin as the President and Finance Chief. Previously, Tappin served as Chief Finance Officer and COO at Rubicon Project, an online advertisement tech company that he helped to go public in 2014. Having served as the Managing Director of Gores Group, a private-held equity company, Tappin brings a professional expertise of guiding new startups to go public and still manage to retain their markets.
Just Fab was worth $1 billion and had 4 million VIP members in 2014. The company is looking forward to earning revenue of more than $650 million this year. Tappin believes the firm will achieve its target since it has several options as well as a strong bottom line. The company is planning to expand its financial arsenal and acquire successful firms in the fashion industry.
Tappin could not hide his joy for being appointed to serve in such an influential position. He promised to dedicate all his effort, professional expertise, and time in ensuring JustFab has achieved its strategic investment goal.
JustFab (previously called Justfabolous) is a renowned online subscription fashion company that supplies handbags, denim, shoes, and jewelry. It provides outfits that are designed based on fashion needs and preferences of members. JustFab Inc. carries a portfolio of top online subscription brands like ShoeDazzle, Fabletics, and FabKids. Adam Goldenberg and Don Ressler established the company in 2010 while Kimora Lee Simmons became the Creative Director and President in September 2011.
JustFab has received millions of dollars from US ventures capital companies such as Matrix Partners, Rho Ventures, Intelligent Beauty, and Technology Crossover to expand its global operations to UK, Canada, and Germany. Read more: Fashion Unicorn Startup JustFab Inc. Taps CFO With IPO Experience
The El Segundo, the California-based firm had 2015 employees in 2015. The organizational structure of JustFab has changed from a functional structure to a blend of divisional and functional structural grouping. The firm has over 33 million members worldwide. Women pay a monthly subscription of $39.95 to receive frequent shipments of new outfits that suit their preference. In 2012, JustFab was attracting over 500,000 new users per month. http://venturebeat.com/2013/08/21/justfab-and-shoedazzle-announce-game-changing-merger-to-dominate-e-commerce/
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