Unicorns do exist, and no, I am not trying to get in touch with my inner 10-yr old girl. Fortune magazine uses the term “Unicorns” to describe private companies valued at $1 billion or more. These super-companies were thought to be a myth Ð only existing on TV or in movies, but now with CEOs like Don Ressler at the helm, billion-dollar startups are a reality.
Ressler is making his money in the direct-to-consumer selling trend that is helping busy and financially well-off buyers experience the luxury of curated shopping. From JustFab in 2011 and FabKids and Fabletics in 2013 and the acquisition of ShoeDazzle that same year, plus a few serious rounds of multi-million-dollar funding, Ressler is just beginning to tap the surface of what’s possible. In an interview with Christina Maraccini of the blog Brandettes Don Ressler said: “Our competitive edge is that we are making a premium performance product – I would put our pants next to Lululemon or Athleta any day – but we have done it with style and at a price that makes you feel good buying it.”
Becoming a fashion start-up billionaire wasn’t easy, and Don Ressler has relied on the expertise of hand-picked partners like Adam Goldenberg and industry guru’s like Kate Hudson (Fabletics) and Kimora Lee Simmons (JustFab) for brand leadership. Ressler can see the gaps in industry and technology and leverage that into a highly successful retail brand. The combination of having the right team in place and knowing how to get investors for multiple rounds of funding are key to Ressler’s success at http://perezhilton.com/tag/don_ressler/#.V4Ah_46RKGg. This success has enabled Ressler and his team to take another great leap and offer the previously on-line only brand in retail shops around the country. When asked about his decision to take the exclusive brands into retail stores he said he understood that there is still a large population who likes to shop at stores, and he doesn’t want to leave them out.
Ressler was serious when he was worried about leaving out an important subset of shoppers. Last June, Don Ressler launched FL2 the men’s version of Fabletics. For this endeavor, Ressler enlisted the help of actor Oliver Hudson known for his role as Jeff Fordham on ABC’s Nashville who also happens to be Kate Hudson’s brother. FL2 will be available online and in retail stores.