Famous fashion e-commerce brand, JustFab, has made it known on Thursday, May 23rd that it has acquired The Fab Shoes but the company did not reveal how much money it has spent to make this deal. However, the significant thing was that this was the second Fab brand which JustFab has acquired during this year as earlier it got hold of FabKids. Nevertheless, the new acquisition will help JustFab boost its business in European countries, as Fab Shoes is based in the region and has more than 500,000 members in Spain and France. Moreover, Fab Shoes has launched its e-commerce shoe club in the UK and Germany last year.
Below is the excerpt from the statement, which JustFab released after acquiring The Fab Shoes:
“JustFab, the fashion subscription e-commerce brand, today announced that it will extend its international reach by launching in France and Spain by July 2013 with the acquisition of European business, The Fab Shoes, a leading shoe-based membership website that launched in early 2012.
The Fab Shoes has already garnered 500,000 members in France and Spain. The strength of its business is largely due to the popularity of its customized styling service.
“The Fab Shoes has done an excellent job in building its business since they launched just over a year ago,” stated JustFab co-founder and co-CEO, Don Ressler . “With our success in Germany and the UK, we were ready to take JustFab into new territories. After getting to know the team at The Fab Shoes, we saw a natural fit for the businesses; it enables JustFab to quickly extend its European reach and gives The Fab Shoes a new way to distribute quality products to customers through our flexible subscription plan.”
“Scale and infrastructure are key if you want to grow quickly in the fashion business,” says Pablo Szefner, CEO of The Fab Shoes. “While The Fab Shoes has had a lot of early success, we are thrilled to take our core business to the next level. With JustFab, we can provide our existing members and potential new customers with excellent styles, quality and service for an outstanding shopping experience.”
The Fab Shoes will convert both its French and Spain businesses into JustFab.com in July 2013. The Fab Shoes’ team will stay intact and become part of JustFab’s growing international team. Szefner will take on the role Managing Director for France and Spain and The Fab Shoes COO, Xisco de la Calle will take on the role of VP of Operations for Europe. Both will work closely with Gerrit Mueller , President of JustFab in Europe, as well as Ressler and co-founder and co-CEO Adam Goldenberg .
Within a year of launching in Germany and the UK, JustFab gained 1.5 million members in Europe, and will be over 2 million with the inclusion of The Fab Shoes membership. Additionally, Germany and the UK are adding more than 100,000 new members a month combined. JustFab now has over 15 million members worldwide, making it the sole fashion subscription business in 6 countries across the globe.”
Source: VentureBeat, PRNewsWire
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