JustFab, a fashion retail and styling platform, is announcing a number of new metrics today, including over $100 million in yearly revenue as well as international expansion.
JustFab was incubated by Intelligent Beauty in March 2010 and has since grown to over 2.5 million members. Similar to sites like ShoeDazzle and BeachMint, JustFab operates a monthly distribution model.
Users sign up for JustFab.com, input their style preferences and each month, will receive a personalized boutique of shoes and handbags that have been chosen to fit their individual style. With each offering, members receive styling advice and outfit recommendations to complete their look from head to toe.
Each item is $39.95, new styles are added monthly, and all items are actually created and branded by JustFab. Co-founder Adam Goldenberg explains that while the quality of the handbags and shoes are high, the site is able to keep the costs down because it works directly with manufacturers. He compared the quality of JustFab’s products to those from Steve Madden or Nine West, where prices can range from $60 to upwards of $100.
As we wrote last Fall, JustFab raised $33 million in Series A funding led by Matrix Partners with co-investment from Technology Crossover Ventures and fashion mogul and TV star, Kimora Lee Simmons. Simmons also became President and Creative Director of the company.
JustFab now counts six million members and has increased revenue by 50 percent in Q1 over Q4, selling more than 200,000 pairs of shoes and bags in just one month. And the company is setting its sights on international expansion, launching JustFab Germany and JustFab Canada.
But Goldenberg has his sights set on creating more than just a retail platform. The site is launching an online fashion community that allows users to upload photos and get style advice from other members as well as from JustFab style panel experts. Additionally, JustFab is extending its support services so that all members have access to a fashion consultants 24/7. JustFab has also added pay-as-you-go pricing to give consumers the option to try the service before they commit to the subscription model.
We sat down with Goldenberg to chat about JustFab and its expansion below: