Fab.com Acquires FashionStake
Bustling Growth, User Desire Fuels Deal to Extend Reach
The rapid growth following Fab.com’s 2010 re-launch has brought the firm’s member base up to an astounding 1.65M members and is growing at an unheard of rate of 350,000 members monthly. Though Fab’s focus on home and design items has brought it to its current standing, members still long for fashion items from Fab. CEO Jason Goldberg notes, “From shirts to skirts to hats to gloves to street wear to shoes to belts and more, we’ve sold them all on Fab and our members have roundly responded with “more please!” With that in mind, Goldberg announced on his blog the company’s first acquisition of NYC-based online fashion marketplace FashionStake.
Fab.com CEO Jason Goldberg (photo via Business Insider)
Named on the “2011 Instyle Magazine Best of the Web” list, FashionStake is home to over 400 emerging fashion brands from 16 countries, which come together to form a unique and vibrant “community-curated” shopping environment for independent designers. The configuration of the site encourages users to stumble upon and discover rising talent while simultaneously being able to purchase new garments. Similar to Fab, FashionStake is essentially the sum of its contributors and unlike high-end fashion e-commerce sites, Fab’s fashion sector aims to excite, rather than intimidate shoppers regardless of fashion aptitude. Goldberg explains, “We’re going to do the exact same thing we’ve done with design products to fashion. Make no mistake, we’re keenly aware that there are plenty of sites that sell high-end fashion for a discount. That’s not Fab. We’re doing fashion the Fab way; designed to make you smile.”
FashionStake’s Cofounders, Vivian Wen and Daniel Gulati, will also be joining the Fab.com team to build on it’s new focus as a formidable fashion presence.
by Natalia Ignaczak