E-commerce retailer JustFab announced it will add 5,000 new clothing items to its site on April 1. And later this year, the site will introduce a Fabletics line for men.
In August, JustFab closed an $85 million Series D funding led by Passport Special Opportunity Fund. The company is now valued at around $1 billion, reported Women's Wear Daily.
"The part I get excited about is that, you look at shoes, and we've dominated that category," Don Ressler, JustFab's co-chief executive officer, told Women's Wear Daily. "And, typically, shoes are only 20 percent or a little less than 20 percent of most people's business. It's been 100 percent of our business and we've done really well. Now we're going to have head-to-toe styling."
JustFab hired Yuchin Mao three months ago to head up design of women's apparel, themed after a pop paradise and nautical influences. The company was traditionally known for its accessories, but now it is stepping up to offer a full potential look.
The brand's Fabletics division will expand into men's. The casual line is meant for the gym and everyday wear.
The company projects apparel sales to reach more than $50 million this year and estimates ready-to-wear will account for 30 percent of all sales.
JustFab opened its first brick-and-mortar location in Glendale, California, in 2013 and is considering more.
"I do think the person that really nails what we're doing and translates that into retail is the one that's going to win," Ressler told Women's Wear Daily. "Maybe at some point we could look at locations where we have a heavy population [of members] and give the consumer both options to touch and feel the product and open up instead of the more traditional way of 'OK, I'm going to negotiate this lease. I'm going to cross my fingers and hope people show up.'"
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