TechStyle Co-CEO Adam Goldenberg Explains De-Risking Fashion Space

The apparel industry can be a challenging market because while it is always needed, the fashions can change dramatically in a very short period of time. Clothing trends might change faster than the seasons. The TechStyle (previously known as JustFab) Co-CEO Adam Goldenberg explains how data and technology can be used to de-risk the fashion space.

Fashion Risk Management

Inventory is one of the primary challenges of the clothing industry. What should you do with the out-of-fashion garb? You can run numerous sales, but every brand is already doing that and it tends to downgrade your brand’s prestige because customers will simply wait for the sales.

TechStyle Co-CEO Adam Goldenberg thinks that data and technology are the answer.

Unlike fashion brands in the past, the TechStyle brand is starting with an online-first strategy, according to Co-CEO Adam Goldenberg during his CNBC interview. This allows the apparel brand to cut costs and create more user-friendly brands, like Fabletics. The firm is poised for success.

“We are now cash-flow positive,” according to TechStyle Co-CEO Adam Goldenberg, “It’s great to be in control of your own destiny.” The model is called “reverse showroom” by Fabletics, insofar as online memberships are established first. Then each month, different selections are available, ready to be delivered automatically. Customers must tell TechStyle if they want to “skip that month.”

Smarter TechStyle Fashion

The advantages of TechStyle and Fabletics is that they offer 1. Faster customer order processing, 2. Membership customization and 3. Reduced inventory on builtinla.com. Every one wins when the most advanced data, technology and Internet resources are used. It is like the circle of rainfall.

California was used to having high levels of snow on its mountain peaks. When this did not fall, the rivers were lower. Stored up underground water was used up. The punishing drought ensued.

When inventory builds up, the apparel firm cannot purchase the next season’s fashion. The customer is forced to wear out-dated duds. No one wins.

TechStyle Co-CEO Adam Goldenberg explained de-risking so that the Average Joe could understand. Big Data and Technology have reached the fashion industry.

Read more: Video: JustFab’s CEO on what it’s like to be a unicorn | VatorNews

Hussain Sajwani: The Real Influencer

“Very, Very, Very Amazing Man.” These were words uttered by the President of United States of America in reference to Mr. Hussain Sajwani, Chairman, CEO and Founder of DAMAC Properties. The same sentiment would be echoed by anyone who came into contact with the main guy. He is as aggressive a businessman as he is a philanthropist. Read more: Meet Our Board | DAMAC Properties

Shrewd Business Mind

With a Bachelor of Arts in Economics from the University of Washington, Hussain Sajwani has indeed surpassed all people’s expectations. In 1982, Hussain started a catering outfit and enjoyed working with the U.S armed forces and Bechtel.

In the mid-nineties, he built a few hotels to accommodate a growing number of foreigners visiting on business and leisure. After a government decree to allow foreigners to own property, Hussain Sajwani saw an opportunity to do something big. Equipped with extensive knowledge of the real estate industry, Hussain Sajwani started DAMAC Properties in 2002.

Such a remarkable entrepreneur he is, that he sold his first 38 stories residential complex within six months, and get this, before construction commenced. Today, DAMAC Properties operates in over 20 countries, employs over 2000 people and boasts 44,000 units in various stages of completion and delivery. Hussain Sajwani has worked with Donald Trump since 2013.

The two real estate magnates have partnered in two luxury projects, one of them being the Trump International Golf Club. DAMAC Properties is known for its expertise in leisure. The company has worked with some of the most renowned fashion and lifestyle brands like Fendi, Versace, and others. In 2008, DAMAC Properties deservedly won five awards at the Arabian Property Awards.

Sajwani’s Notable Good Deeds

Hussain Sajwani donated AED 2Million to the Emirates Red Crescent. The money went towards clothing over 50,000 needy children. Mr. Sajwani believes in the worth of children and supports many worthy causes by the Emir of UAE. Learn more about DAMAC owner: http://www.independent.co.uk/news/people/donald-trump-new-years-eve-speech-president-elect-dubai-business-partner-hussain-sajwani-mar-a-lago-a7507551.html

Yemeni refugees also benefited from $272,000 donated to Yemen We Care for Health Care, relief, and education. DAMAC Properties has also been working with Kingston University London to foster the talent of future entrepreneurs and construction professionals. Recently, the company organized a field trip for the University’s master’s program scholars to their project site.