Fabletics is one of the most recognizable activewear brands in the world — famous for its affordable leggings, VIP membership model, and its high-profile co-founder Kate Hudson. But most people who buy Fabletics have no idea who actually owns it. The answer goes well beyond Kate Hudson — and the ownership story behind this $1 billion+ revenue brand is one of the most interesting in modern fashion retail.
What Is Fabletics?
Fabletics is a membership-driven activewear brand headquartered in El Segundo, California, founded in 2013. It offers premium-quality athletic wear for women and men — including leggings, sports bras, shorts, and tops — at affordable prices through a VIP membership subscription model. Members in the U.S. pay $69.95 per month, which converts into store credit, and receive 20–50% off regular prices.
Fabletics surpassed $1 billion in net revenue for the first time in 2025, with revenue growing over 18% that year and accelerating to 20%+ growth in 2026. The company operates more than 137 locations globally and counts over 3 million active customers, with approximately 2.7 million enrolled in its VIP program.
Who Owns Fabletics in 2026?
Fabletics is owned by TechStyle Fashion Group — a Los Angeles-based private holding company co-founded by Adam Goldenberg and Don Ressler. TechStyle holds the majority ownership stake in Fabletics, estimated at over 60%, and exercises full operational control. The company is privately held and not listed on any public stock exchange.
Adam Goldenberg serves as Co-Founder and CEO of Fabletics and continues to lead the business day-to-day. Don Ressler is the other founding co-CEO and remains actively involved. Kate Hudson co-founded Fabletics alongside them in 2013 and holds a minority equity stake estimated at around 20%, though she transitioned from an active operating role to a strategic advisory capacity in 2022. She remains closely associated with the brand’s public image and continues to influence its creative direction.
Ownership and Key Stakeholders Table
| Owner / Party | Role | Estimated Stake | Key Detail |
|---|---|---|---|
| TechStyle Fashion Group | Parent Company & Majority Owner | ~60%+ | Founded by Adam Goldenberg and Don Ressler; also owns JustFab, ShoeDazzle, FabKids, Savage X Fenty |
| Adam Goldenberg | Co-Founder & CEO | Part of TechStyle majority stake | Leads Fabletics day-to-day; co-founded TechStyle with Don Ressler |
| Don Ressler | Co-Founder & Co-CEO | Part of TechStyle majority stake | Co-founded Fabletics and TechStyle Fashion Group |
| Kate Hudson | Co-Founder & Brand Ambassador | ~20% minority equity stake | Actress and entrepreneur; transitioned to advisory role in 2022 |
| TPG Capital | Private Equity Investor | ~20% minority stake | Major PE firm with board representation; backed Fabletics’ retail expansion |
| Ginger Ressler | Original Co-Founder | Small minority stake | Married to Don Ressler; focuses on design and product development |
| No public shareholders | N/A | N/A | Fabletics remains privately held; no IPO as of 2026 |
| Reliance Brands (India Partner) | Distribution Partner | No ownership stake | Handles Fabletics’ market entry into India beginning 2026 |
The Origin Story: Two Tech Entrepreneurs and a Hollywood Star
Fabletics did not start as a fashion idea. It started as a technology idea. Adam Goldenberg and Don Ressler were serial entrepreneurs who had previously co-founded Intermix Media — the parent company of MySpace — before selling it to News Corp in 2005.
They then co-founded JustFab in 2010, a membership-based online fashion retailer, and saw an enormous opportunity in the activewear market.
When they looked at the athleisure landscape in 2013, they spotted a clear gap: there were luxury brands like Lululemon charging over $100 for leggings, and there were cheap fast-fashion options with no quality. Nothing sat profitably and attractively in the middle.
Goldenberg and Ressler decided to fill that gap using the same membership-first technology model they had built with JustFab.
They brought in Kate Hudson as a co-founder — not just as a celebrity face, but as a genuine business partner with equity and a creative voice. JustFab Inc. — later renamed TechStyle Fashion Group — launched Fabletics in October 2013, and the brand immediately took off. Within two years, it had become the fastest-growing activewear brand in the United States.
The Role of TechStyle Fashion Group
TechStyle Fashion Group is the invisible engine behind Fabletics — and understanding it is key to understanding who really owns the brand.
TechStyle operates as a fashion incubator, using a shared technology platform, membership infrastructure, and supply chain to power multiple brands simultaneously.
Its portfolio includes Fabletics (its flagship and most valuable brand), JustFab, ShoeDazzle, FabKids, and Savage X Fenty — the lingerie brand co-founded by Rihanna. All of these brands share TechStyle’s back-end technology and subscription management systems, allowing each to operate at lower cost than a standalone competitor.
The Fabletics membership model — which drives the majority of its revenue — is a direct product of TechStyle’s technical infrastructure. The data insights TechStyle collects across millions of members inform every product decision, from which colors to produce to which styles to feature in marketing campaigns.
TPG Capital: The Private Equity Muscle Behind the Growth
While TechStyle Fashion Group and the founders control the majority of Fabletics, the brand’s aggressive retail expansion has been significantly fueled by TPG Capital — one of the world’s largest and most respected private equity firms.
TPG Capital holds an estimated 20% minority interest in Fabletics with board representation, giving it meaningful influence over long-term strategic decisions.
TPG’s investment has been directed toward Fabletics’ retail store rollout — the company now operates 137 locations globally after delivering three consecutive years of double-digit same-store sales growth in the U.S.
TPG’s involvement also signals that a Fabletics IPO may eventually come. The company has explored a public offering in the past — at one point targeting a $5 billion valuation — but has not moved forward.
With $1 billion in annual revenue now crossed and $2 billion targeted within five years, the path to a public listing is more credible today than it has ever been.
Kate Hudson: Still Involved, Still Important
Kate Hudson is one of the most well-known co-founders in fashion history — and her connection to Fabletics is more substantive than a typical celebrity endorsement.
Hudson co-founded Fabletics in 2013 with genuine creative involvement and holds an estimated 20% equity stake in the company. She transitioned to a strategic advisory role in 2022, stepping back from day-to-day decisions.
But she remains the most visible public face of the brand — appearing in campaigns, attending events, and continuing to influence the brand’s aesthetic and messaging direction.
Her equity stake, while a minority position, is estimated to be worth hundreds of millions of dollars based on the company’s current implied valuation. Khloé Kardashian and Kevin Hart have also appeared in Fabletics campaigns, expanding the brand’s celebrity presence beyond its co-founder.
Fabletics in 2026: The $2 Billion Push
Fabletics in 2026 is a company in aggressive expansion mode. In August 2026, CEO Adam Goldenberg announced plans to triple the company’s international retail footprint, opening approximately 20 new international stores and 25 new U.S. stores over the next 12 months. New markets include India, the UAE, Colombia, Peru, and Central America.
For its entry into India, Fabletics has partnered with Reliance Brands — a division of Reliance Retail, which is part of Mukesh Ambani’s Reliance Industries.
The first Fabletics store in India will open at DLF Promenade in Vasant Kunj, New Delhi, alongside the launch of a dedicated India website. A second store in Mumbai is expected to follow shortly.
The company is targeting $2 billion in annual revenue and a fourfold increase in EBITDA within five years. Revenue grew more than 14% in 2024, more than 18% in 2025, and is up over 20% so far in 2026.
Frequently Asked Questions (FAQs)
Q1. Who owns Fabletics in 2026?
Fabletics is owned by TechStyle Fashion Group, a private holding company co-founded by Adam Goldenberg and Don Ressler, which holds an estimated 60%+ majority stake.
Q2. Does Kate Hudson own Fabletics?
Kate Hudson co-founded Fabletics in 2013 and holds an estimated 20% minority equity stake, but does not control the company — TechStyle Fashion Group does.
Q3. Who is the CEO of Fabletics in 2026?
Adam Goldenberg, co-founder of both Fabletics and TechStyle Fashion Group, serves as CEO and leads the company’s day-to-day operations.
Q4. Is Fabletics publicly traded?
No. Fabletics remains a privately held company under TechStyle Fashion Group and has not completed an IPO as of 2026.
Q5. How much revenue does Fabletics generate?
Fabletics surpassed $1 billion in net revenue for the first time in 2025, with revenue growing over 18% that year and 20%+ in 2026.
Q6. What other brands does TechStyle Fashion Group own?
TechStyle Fashion Group also owns JustFab, ShoeDazzle, FabKids, and Savage X Fenty — all operating on similar membership-based retail models.
Q7. Is Fabletics entering India in 2026?
Yes. Fabletics is entering India in 2026 through a partnership with Reliance Brands, with its first store opening at DLF Promenade, New Delhi, followed by a Mumbai location.
Q8. How many Fabletics stores are there globally?
Fabletics operates more than 137 stores globally as of 2026, with 25 new U.S. stores and 20 new international stores planned over the next 12 months.
Fabletics is owned by TechStyle Fashion Group — a private Los Angeles-based company co-founded and led by Adam Goldenberg and Don Ressler — which holds an estimated majority stake of over 60%. Kate Hudson holds a 20% minority stake and continues as a brand ambassador and strategic advisor.
TPG Capital holds a further ~20% minority position with board representation. The company is privately held, has surpassed $1 billion in net revenue, and is aggressively targeting $2 billion within five years through a global store rollout that now includes its landmark India entry via Reliance Brands in 2026.