Don Ressler The Online Fashion Investor
Don Ressler, the co-founder of the famous online store JustFabulous, has achieved immense success in his career. Don Ressler and his co-founder Adam Goldenberg met at Intermix where they had both sold their startup businesses. Don Ressler had sold a fitness start-up named FitnessHeaven.com in 2001.
They worked together at Intermix e-commerce division where they formed Alena Media. Alena Media was extremely successful generating vital revenue for the company. This is probably where they learned the secrets of a successful online business. Intermix was later sold to News Corp in 2005. The performance went down, and the two friends opted out. After resigning at Intermix in 2006, Adam Goldenberg and Don Ressler founded Intelligent Beauty, which would later give birth to the following amazing companies below.
Don Ressler’s Successful Co-Investments
• Dermstore – An e-commerce website is dealing with health and beauty with a specific interest in cosmetics and skincare.
• Sensa – A company dealing with weight-loss launched two years later. They collaborated with Dr. Alan Hirsch for the medical knowledge support.
• JustFabulous – An online fashion store that is subscription oriented.
The above three companies made them super rich with an annual turnover of more than $250 million.
The company was launched in March 2010. In slightly more than a year, JustFabulous was making over $3 million monthly revenue with over 2.5 million members. That was a tremendous growth!However, to increase their product line, JustFabulous accepted funding from Matrix Partners worth $33 million in 2011. As a result, in September that year, they ushered Kimora Lee Simmons as the new President and Creative Director. That accelerated the company’s subscriptions to over 4 million members by December. Barely three months later. By April 2012, the store was way above 6 million subscribers. In June, the co-founders decided to secure $76 million funding from Matrix Partners, Rho Ventures, Intelligent Beauty and Crossover Ventures.
Seeing that online venture was paying off quite well, the co-founders bought a children’s fashion store. Fabkids was born on 18th Jan 2013. In May the same year, they acquired The Fab Shoes, a European-based fashion e-commerce site. October the same year, in collaboration with Kate Hudson, JustFab launched Fabletics, a site dedicated to athletic wear.
With these and many other online stores started, JustFab opened an offline shop in September 2013. Business boomed, and that saw them acquiring more funding to attain a total capitalization of $250 million.