JustFab is seen as a Unicorn by many professional markets. For one thing, they had a strong business model and a great plan for bringing people the products that are very enjoyable. It has received a valuation of $1 billion, and it has projected sales of $500 million for 2015. One must wonder what is behind the status of the unicorn. Adam Goldenberg himself has a lot too say on the matter. He has a lot of experience when it comes to business. Therefore, he knows what to do in order to make sure that it is a successful venture.
One thing that Adam Goldenberg has stated is that among the factors that grant any business the status of unicorn is the business plan. If a company has a good business model, then it is going to go very far. For one thing, Adam Goldenberg’s JustFab and the subsidiaries are subscription services. People pay for a subscription service. Then they get to buy clothes at a lower price. To go along with the clothes that they pay for, they also get a free outfit or set of clothes based on the type of clothes they buy. Each month of membership, a free outfit is sent to the customer.
Adam Goldenberg also compares his unicorn to the other retailers in the fashion. The others have been called “dinosaurs”. They are called dinosaurs because they are showing an inability to adapt to the changing culture. The internet is one of the major aspects of the changing world. Adam Goldenberg’s company is primarily internet based. As a matter of fact, it has only recently started opening up physical locations for people to check out. This is actually a good business move. People are now able to try on some of the clothes that they see. Among the dinosaurs are fast fashion companies that are primarily offline based.
Adam Goldenberg is constantly on the move with his business plans. For one thing, Goldenberg is looking to make sure that customers are not only getting some of the most stylish products, but that they are also saving a lot of money. One thing that is certain is that Adam Goldenberg’s company has a promising future ahead of it. It is getting ready to take on even Amazon as one of the most successful businesses in the industry.
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