JustFab Inc., the company that owns and operates ShoeDazzle and Fabletics, has made a big announcement. As outlined in the Wall Street Journal, Todd Tappin has been named the new finance chief and president of the company, effective June 30, 2016. Tappin formerly served as the chief operating officer and CFO for Rubicon Projects, a company based in Los Angeles that deals in online advertising technology.
During his time at Rubicon he helped take the company public. He also served as the managing director for Gores Group, a private equity firm. He’s highly experienced in bringing early-stage companies through the process of becoming public. Learn more about JustFab: https://www.instagram.com/justfabonline/?hl=en and http://blogs.wsj.com/cfo/2016/06/08/fashion-unicorn-startup-justfab-inc-taps-cfo-with-ipo-experience/
JustFab is a unique company that offers VIP services that provide personalized fashion subscriptions to numerous fashionistas each month. Currently the company is working strong in the United States, but is set to take Canada, the UK, and Germany by storm as they begin the process of spreading their subscription services to these countries.
The company makes their services work for everyone by cutting out the middleman and just offering their stock to customers, allowing them to sell their fashions at a lower price.
Currently, Just Fab has roughly 4 million VIP members and is on a financial track to exceed $650 million in revenue in 2016. That success is wonderful, but doesn’t rush the company into becoming public. While it would expand their strategic options through increased financial growth, it might not be the plan the company decides to use.
Their timing on entering the public market may also have to do with the shaky state of the stock market. Currently, new companies have been getting the cold shoulder in the stock market, in fact new stock issuances were at a seven year low at the end of May.
Waiting till the market is more friendly to their entrance will certainly guarantee the company finds themselves more successful. As for right now, with the addition of Tappin, it’s expected that that will be the plan for the future of JustFab.