Don Ressler and Adam Goldenberg are long-time business partners and have faced many challenges as partners and entrepreneurs. Their partnership was formed over 12 years ago when the two businessmen founded Alena Media, an ecommerce and advertising company. Throughout the years, Ressler and Goldenberg jointly explored businesses ventures, including Hydroderm, a skincare brand; Brand Ideas; and Intelligent Beauty, Inc. In 2010, they formed JustFab, Inc. and six years later changed the name to TechStyle Fashion Group. In an interview with Forbes Magazine, the Co-CEOs talk about how they use the subscription membership model and Co-CEO model to make TechStyle a success.
Forbes reported that when Don Ressler and Adam Goldenberg launched the JustFab brand, TechStyle experienced remarkable success within five years of ecommerce operations. The subscription membership model attracted millions of members worldwide and contributes to the company generating over $600 million in annual revenue. Today, TechStyle and its brands, including JustFab, Fabletics, FabKids, and ShoeDazzle have four million loyal and satisfied subscribers. This kind of success requires leadership and marketing skills to overcome challenges that are inevitable in the electronic commerce fashion industry. Mr. Ressler and Mr. Goldenberg share equal responsibilities of overseeing and managing TechStyle Fashion Group, and decision making.
Adam Goldenberg told Forbes Magazine, in November 2016, the Co-CEO model is used as a new style of workforce leadership. TechStyle adopted the model after forming a business relationship many years ago and developing skills to overcome the challenges of leading. He said partners are going to verbally fight by debating and disagreeing on important business makings to run a company. The best decisions are made when partners debate and present facts with reasoning to backup their arguments. He quickly admitted that they disagree a lot privately and sometimes reject solution of the other; but, never make a final decision without a mutual agreement.
Adam Goldenberg handles all aspects of TechStyle Fashion Group pertaining to customer satisfaction and strategies to building lasting relationships. Don Ressler primarily concentrates on optimizing efficiencies within the business structure to ensure smooth running of operations. Collectively, they manage the company victoriously and share responsibilities for final results regardless of the outcome, whether successful or a failure. The Co-CEO model works effectively for the partners for almost seven years. The new model is a powerful tool for entrepreneurs to work productively with their employees and customers using social media and electronic messaging. For more background, read about when Don Ressler of Fabletics sat down with Brandettes for an exclusive interview.