Kate Hudson is known as the daughter of Goldie Hawn and is the Golden Globe winner for her part as Penny Lane in Almost Famous, In a few years, she might be also known as as successful businesswoman.
In 2013, she co-founded Fabletics, a company that started out selling women’s active wear, but is now sells all types of fashion for men and women. Th company has become so successful in a few years that Amazon is feeling their heat.
The reason for their quick success is having a business plan that is like a three-pronged sword. Two of the prongs are using traditional brick-and-mortar stores and an online website, They use a membership program to keep their customers loyal.
Being a pert of this membership is free. You can choose to be a VIP member. As a VIP member, you get notified at the beginning of the month the new products that the company and you have until the 5th of the month. The customer partly knows what products their members want since they feel out a survey about their favorite fashion and lifestyle. If they choose not buy a new product, they will be charged a $49.95 fee that can act as store credit. A member would eventually have to buy a product or get high fees. The membership guarantees loyalty as well as some of their product being sold every month.
Kate Hudson believes that it is these three things that have helped the success of her company:
-her name recognition
-using the Warby-Parker e-commerce to sell her product online
-selling a lifestyle to women that makes them feel good about themselves even if they are not a sexy, thin celebrity like herself
Kate Hudson has been asked whether she wants to be known as an actress or a businesswoman. Her answer is that she is proud of what she has done so far in business, but in her heart of hearts, she will always be an artists and an actor.
Hudson does want to make sure that her customers fill out the Lifestyle Quiz when they become members of the Fabletics membership program. They will get the gear that they want from this company if they fill out the quiz.