Fab.com Relaunches Site, Opens First Store
NEW YORK-Just one month shy of when it first launched as a flash site for design two years ago, Fab.com has undergone what it calls a major "pivot." It unveiled its new website, acquired German custom furniture manufacturer Massivkonzept and opened its first retail store in Hamburg, Germany. It also launched three types of Exclusively Fab products: Products Designed by Fab, Designer Collaborations, and Products Found by Fab.
The new website has better search capabilities and is more visual, the company said, and has offers a unified experience across its web, smartphone and tablet applications. Other features include a Fab outlet section.
The company's first retail location is Massivkonzept's former showroom. The furniture company is an online custom furniture company that has a projected revenue for this fiscal year of $10 million, and an average shopping cart sale of $1,000, Fab said. It will now be relaunched as Fab Designed By You.
Two thirds of Fab.com's daily revenues are not from its flash events, it said, but from searching and browsing on the site. Thirty-three percent of sales are via mobile, and home products are about 50 percent of overall sales. Forty percent of the site's sales are outside the U.S., it said, and as of yesterday it now sells to France as well.