Haircare was going to be Wantable Inc.’s third product category. The research was done and the company started talking to customers and vendors about what they wanted and what the category would look like.
But president and chief executive officer Jalem Getz decided to pull the plug on the idea after realizing the company couldn’t deliver on what customers wanted. Wantable’s main focus is on meeting and exceeding customer expectations, Getz says.
“For many months afterwards, a lot of people thought that (decision) was a mistake,” Getz said. “It was not a mistake because we launched our largest category, which is women’s fitness, instead.”
Milwaukee-based Wantable is one of hundreds of entrants to the subscription apparel market in recent years. Customers pay a monthly fee and stylists send five to seven handpicked items to try on. The customer sends back the items she doesn’t like and pays for what she keeps.
The company has been among Milwaukee’s fastest-growing startups, repeatedly outgrowing its available space, hiring 100 people and raising more than $4 million in investments. Getz, who founded the company and was also the founder of New Berlin-based Buyseasons Inc., doesn’t reveal revenue figures, but said the company has been doubling its revenues each year, posted its first profit in 2016 and has hundreds, if not thousands, of customers in most states. The company has had 18 consecutive quarters of growth, according to a news release.
Wantable’s focus has turned from, “Where’s our meal going to come from tomorrow?” to setting itself up for the next chapter, Getz said.
He’s developing a stronger management structure and narrowing roles and responsibilities. The company hired its first human resources director and Getz also is spending a large portion of his time, around 20 percent, focused on recruiting top talent.
“We are an apparel company that is extremely mindful of the importance of technology not only in our model, because we pick products for customers, but also just in generally doing business,” Getz said, noting the technology and purchasing staff are about the same size.
Adjusting to the market while keeping the customer front of mind will help Wantable survive a potential shakeout of an industry that has seen an influx of new competitors in recent years, he said.
“You’re going to see a lot of companies fail this year,” Getz said. “We’re not out of the woods, but we’re certainly much closer to being out of the woods than a lot of the competitors, because we never entered this space with the starry-eyed notion of getting rich quick; that was never the plan.”
Wantable
Leadership: Jalem Getz, president and CEO
Address: 112 E. Mineral St.
Website: www.wantable.com
What they do: Deliver personalized makeup, accessories and apparel
Founded: 2012
Number of employees: 100
Next goals: Continuing to improve categories and customer experience, while establishing organization for future growth.
