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Securing $139 Million In Funding – Well That’s JustFab.com

Champagne toasts and stiletto stomping is in order for super popular and ultra-chic fashion subscription site Justfab.com. Why, you may ask? Well, the company just raised $78 million in C-Round funding–led by Rho Ventures–to bring its fabulous funding total to $139 million. It doesn’t hurt that the president and creative director is the fashion-branding and catwalk-dominating powerhouse Kimora Lee Simmons, and the co-founders are Myspace vets Adam Goldenberg and Don Ressler. But, I can see how the site is addicting for its millions of users.

 

 

 

Miss Fabulosity Herself

If you’re a fashion brand, there are few people you would want more on your team than Kimora. The woman has some serious fashion and business skills. Let’s do a quick cred run-down:

 

 

 

Needless to say, she’s got some bones in the bank and fashion forte to offer. But, she’s not the only reason Justfab.com is so sensationally popular; The site is addicting for bargain fashionista newbies and wannabies, and the user base just keeps growing, and growing, and growing….

 

JustFab is Fast Fashion

JustFabulous—or JustFab—was incubated and launched in 2010 by parent company Intelligent Beauty and has since seen a remarkable growth in users and revenue—we’re talkin’ half a million users a month and a projected $100 million in revenue this year (up from $28 million in 2011). It’s in the “fast fashion” category of footwear (think Nine West NOT Jimmy Choo). Currently, there are 4-5 million pairs of shoes ordered through the site.

 

 

Here’s how it works:

  • Essentially, it’s a shoe and handbag club
  • You first take the style profile
  • You’ll then find out if you’re bohemian, classic, conservative risk-taker
  • Based on what celebrity you’re like, the JustFab stylists will choose shoes or a handbag they think you’ll like
  • Each month you get an email with different styles and you only buy what you love (but you’re “required” to buy)
  • Everything is $39.95 and shipping is free

 

Of course, you can do it a la carte style, with prices ranging from $49 to $79.

 

Inter-Fashionable

It’s now time for JustFab’s international rollout. After the very successful launch in Germany, the site is hitting the global catwalk with a UK launch set for September. The cool $78 million in recent funding will be a nice first-class ticket for the international efforts.

According to Goldenberg, the funding will also help to expand JustFab beyond shoes and handbags, to compete with the likes of H&M and Zara.

 

 

I just did my style profile, but didn’t get past the sign-up form. I can imagine I’m boho classic. If you want to be part of JustFab.com’s “VIP” club, go take your style profile and sign up. Candy for your closet, apologies for your bank account.

 

Photo Credits

JustFab.com / Intelligent Beauty

Author : Holly Hutton

Born in the Big Easy and raised in the Sunshine State, Holly has spent the last five years brunching in the Big Apple and bantering with Big Ben. As a wandering writer, techy-in-training, and avid alliterator, Holly has written everything from educational policy and political news briefs to web content and travel blogs. She is thrilled to be a part of the KS team and working with a community of smart, savvy, entrepreneurs on all things startup!

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