FabFitFun reported its box subscriber membership base has hit the 1 million mark as the company looks to continue its streak of annual revenue doubling this year.
Katie Rosen Kitchens, cofounder and editor in chief, said the growth has been consistent each year with the company continue to iterate on the box to continue the trajectory.
“I think it really comes down to value,” she said. “There are obviously a ton of different subscription services on the market, whether you’re talking about boxes or things like Netflix and Spotify, and what we see is people really get addicted to the model and they sign up for a ton of subscriptions but they stay on with the ones that provide the most value. We believe that we are continuing to provide more and more value for the membership and that’s been the story from the get go.”
The company said it’s on track to double revenue this year from 2017, but declined to cite a specific figure. A spokeswoman for the firm said FabFitFun has seen revenue at least double each year since 2013, when it rolled out its first box. The company told WWD in 2015 that it expected to close that year with a $20 million run rate in sales.
FabFitFun, which has raised $6.5 million to date, is comprised of not just the box offering but over the years has added an online magazine, FabFitFun TV and, in the summer, delved into the conference space. There have also been pop-ups, with another slated for this year at The Grove.
Its membership base is comprised mostly of females, but the company sees opportunity in evolving its subscriber case, particularly as it continues to make improvements on the personalization front. Each season, there are about 300 variations of a box to allow for customers to, for example, select the pattern they want on a scarf.
“For us, it’s not necessarily about [growing] males specifically but just continue to grow as a whole,” Kitchens said. “The box has changed, if you think about it. When we first launched, we launched with 2,000 members. They all came from the web site. They were my demographic. There were eight products; I picked them. Now that we’re curating for over 1 million members a season, it’s already a more diversified group. We know that what a 13-year-old in San Diego wants is not the same as a 65-year-old in Kansas City.”