Working out is an important thing to do. People who are able to exercise tend to feel better and look better. They also tend to have stronger immune systems and find it easier to fight off an illness. While working out has many advantages, finding the right clothing is not always easy. The right clothing can help make any workout better for a given person. This is something that businessman Don Ressler understands very well. At his company, Fabletics, the aim is to offer clothing that is intelligent and thoughtful. He knows that clothing, like so many aspects of modern life, must be smart and have a lot of thought behind it before it is offered to the consumer.
His Own Insights
The clothing here came about in part because Ressler had a sudden realization. He saw that people around him were working out more. Ressler also saw that many people wanted smart clothing that could easily go from the gym to the boardroom. This is where he began to realize that he could fill a need that wasn’t being filled well at the present time. His own idea started to gel. He also started to realize that he could start a company devoted to this purpose. Ressler quickly found financing and a partner for his ideas.
Creating A Company
Ressler and his partners, including famous actress Kate Hudson, started Fabletics with the idea that all women deserve to have clothing that is comfortable and works well no matter what they happen to be doing at any one time. He knew that understanding the world of retail is quite crucial when it comes to figuring out what women want today. This is where he knew he could offer something special. He knew that women would listen to his company because his company was listening to them.
Today, Ressler and those at Fabletics continue to see workout clothing as a vital and integral part of any woman’s total wardrobe. This is why they continue to figure out how to best create clothing that is full of ideas like fabric that is good enough to create a striking look whether worn alone or when accessorized. He and his fellows at the company know they can confidently offer something that the modern woman wants to have on hand no matter where she is or what she is going to do today.
See Don Ressler on Zimbio.
When Don Ressler and his wife noticed that their wardrobe consisted of mainly overpriced workout clothes, they realized that there was a potential for growth in the market. Ressler and his business partner, Adam Goldenberg began setting the framework for what is now known as Fabletics.
Don Ressler is currently CEO of JustFab, an e-commerce website that sells quality clothes at affordable prices via an online membership. When he and Goldenberg, realized that there was a real potential for selling athletic wear, it seemed like a natural evolution of the company.
Fabletics now brings in $150 million in annual sales for its parent company JustFab and their market share is still growing. Their secret is that since they are an e-commerce website, they don’t have to deal with the traditional costs of owning a physical store. This allows the company to offer high quality products and lower prices than their competitors.
The company has even partnered up with Kate Hudson to help increase their brand recognition and compete with industry heavy weights such as Lululemon and Nike, at less than half of the cost. Don Ressler even went so far to say that they “would put [their] pants next to Lululemon or Athleta any day”.
The brand has led to the development of new business ventures, such as FL2, an athletic brand geared towards men. The industry as a whole is set to grow to more than $100 billion by 2020, and JustFab has a unique position as an e-commerce site which will give it an edge over struggling brick-and-mortar retailers.
Consumers too seem to be getting more comfortable with shopping online, and physical businesses such as Sport’s Authority haven’t been able to adapt quickly enough to this trend. JustFab was founded in 2010 by Don Ressler and Adam Goldenberg, was designed to specifically to take advantage of this trend and has grown to bring in a total of $500 million in annual sales. The company is still receiving investment funding and now holds the coveted title of a billion dollar “Unicorn” start-up.
Stephen Murray was born in August 1962. He attended the Boston College in 1984 earning a Degree in Economics. He then furthered his studies earning his Master’s in Business Administration at Columbia Business School in 1989.
Stephen Murray began his career as a credit trainee at a New York based holding bank, Manufacturers Hannover and Trust Corporation. He was then nominated the Vice President of a middle market lending bank, according to reports by Bloomberg. He later joined a leveraged finance and private equity unit of Manufacturers Hannover. Learn more about Stephen Murray CCMP Capital: Learn more about Stephen Murray CCMP Capital: http://patch.com/connecticut/stamford/stephen-p-murray-52-financial-executive-stamford-resident-vice-chair-boston-college-board-trustees and https://www.pehub.com/2007/10/5-questions-with-stephen-murray/
Following a couple of merging and acquisitions, with companies like Chemical bank and Chase Manhattan Bank, Manufacturers Hannover became part of the conglomerate hedge fund, J.P. Morgan in the year 2000. The consolidated hedge fund appointed Stephen Murray as the head of buyout business five years after joining the group.
JP Morgan Partners was the name given to CCMP Capital before the 2006 spin off. The company majorly involved in middle market deals as it continued to pursue growth alongside its private equity clients. A year later, JP Morgan dissociated its business after outbidding TPG Capital, KKR & Co., and Blackstone Group for a drug maker, Warner Chilcott, based in Dublin. Read more: This Old Thing? Private Equity Honcho Drops Little Place Uptown for $11M
However, JP Morgan survived despite the competition from KKR and Blackstone Group and in 2006, CCMP Capital spun out it and in 2007, Mr. Murray was appointed the company’s CEO.
Stephen Murray was also associated with other companies including AMC Entertainment, Warner Chilcott (the drug maker company), Pinnacle Foods, Aramark, The Vitamin Shoppe, Legacy Hospital partners and Generac Power Systems where he served a member of the board of directors.
Stephen Murray was a supporter of educational and political initiatives. He was involved in the funding of the popular Make-A-Wish Foundation, based in New York. The foundation was aimed at granting wishes to kids with life threatening conditions – read more: Ex-CCMP Capital CEO Steve Murray passes away.
He has supported education initiatives at Boston College, Columbia Business School and Stamford Museum just to say the least. He was at one point appointed the chairman of board of trustee at his former college (Boston College) and the head of Make a Wish Foundation in New York.
He died at the age of 52 12 months earlier after resigning from his executive responsibilities due to his deteriorating health conditions. He will forever be remembered for his positive contribution toward steering CCMP Capital to success.