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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Seramount Names TechStyle Fashion Group (Fabletics, Savage X Fenty, JustFab, Shoedazzle, FabKids) a 2021 Top 75 Company for Executive Women

November 16, 2021 GMT

NEW YORK, Nov. 16, 2021 (GLOBE NEWSWIRE) -- TechStyle Fashion Group, the global brand incubator known for building and scaling digital-first and membership-based brands including Fabletics, Savage X Fenty, JustFab, Shoedazzle and FabKids, was named to Seramount’s 2021 Top 75 Companies for Executive Women list today. This list recognizes organizations that are moving more women into top positions, while highlighting the successes at these trailblazing companies.

This is the most definitive list of top workplaces for women who want to advance through the corporate ranks. It celebrates companies that champion women’s advancement, with a focus on succession planning, profit-and-loss role, gender pay parity, support programs, and work-life balance programs.

“TechStyle is honored by this recognition, which underscores our ongoing commitment to supporting female advancement within our organization,” said Adam Goldenberg, Co-Founder and CEO, Fabletics; Co-Founder, TechStyle Fashion Group. “TechStyle has always been, and remains dedicated to increasing the diversity of our organization from the top down, which is why we are thrilled to have so many talented women in leadership roles across all brands.”

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“Our 2021 Top 75 Companies for Executive Women initiative reveals encouraging increases in the number of women who are in senior leadership roles and running major divisions,” says Dr. Betty Spence, Head of Women’s Advancement at Seramount. “We have noted a correlation between these increases and new emphasis placed on formal sponsorship programs at 68 percent of the Top Companies, and we applaud their efforts in ensuring that women have advocates for their advancement.”

Since being established out of the TechStyle incubator platform over the last several years, today, Fabletics; Global Fashion Brands, comprised of JustFab, ShoeDazzle and FabKids; and Savage X Fenty operate as standalone companies while benefiting from efficiencies gained through shared supply chain management, fulfillment, and technology platform. Each company utilizes a membership model to personalize shopping for millions of active members around the world. The success of TechStyle’s approach to brand-building is evidenced by the rapid growth of its brands including Fabletics, which today operates more than 70 physical retail locations serving a global customer base.

Highlights of the 2021 Top 75 Companies for Executive Women include:

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  • The percentage of women corporate executives increased 3 percentage points to 34 percent versus 31 percent in 2020. Female board of directors also increased 5 percentage points to 36 percent from 31 percent in 2020.
  • Female executives responsible for divisions worth more than $1 billion increased to 37 percent from 30 percent in 2020.
  • Corporate executives with P&L responsibilities increased 3 percentage points to 30 percent versus 27 percent in 2020.
  • Sixty-eight percent of the Top 75 Companies for Executive Women offer formal sponsorship, up from 60 percent in 2020.

The full list of companies can be found HERE.

Methodology
The 2021 Top 75 Companies application includes more than 200 questions on topics including female representation at all levels, but especially the corporate officer and profit-and-loss leadership ranks. The application, based on 2020 data, tracks and examines how many employees have access to programs and policies that promote advancement of women and how many employees take advantage of them, plus how companies train managers to help women advance. To be considered, companies must have a minimum of two women on their boards of directors, a US-based CEO, and at least 500 US employees.

About TechStyle Fashion Group
Founded in 2010, TechStyle Fashion Group is a fashion incubator with a proven track record of building and scaling digital-first and membership-based brands. TechStyle’s platform has successfully developed and exited some of the world’s most renowned and innovative brands, including Fabletics, Savage X Fenty and Global Fashion Brands, which includes JustFab, Shoedazzle and FabKids.

About Seramount
Seramount, now part of EAB, is a strategic professional services firm dedicated to advancing diversity, equity, and inclusion in the workplace. Over four decades, partnering with some of the most iconic companies in the world, we’ve built a deep, data-driven understanding of the employee experience, which lays the groundwork for everything we do. Our comprehensive DE&I toolkit includes actionable research and insights, membership, strategic guidance and consulting, and inspiring events, meeting each client’s needs no matter where they are on their journey and guiding them along an ever-changing landscape. Seramount has empowered over 450 organizations to realize the business benefits of diversity, equity, and inclusion. Learn more at seramount.com.

Press Contact

TechStyle Fashion Group
Techstyle@icrinc.com

Seramount
Stefanie McNamara, stefanie.mcnamara@seramount.com