Jason Goldberg is making sure Fab gets more fab by the day. The company is going global, hitting Europe by tying up with Casacanda, a Berlin-based flash sales company. Fab will launch as Fab.de, and will be available to custom, boutique style and design lovers in Germany, Austria, and Switzerland. And, Fab.de is not all (for the URL, by the way, the company spent $50,000), Jason and his team have also lapped up the Fab.eu domain for a tidy $ 46,000.
As to why the company chose Germany to enter the European market, Goldberg told the media that Fab has been scrutinizing the German market since October last year. Since it’s one of the few European economies doing well. They also decided that partnering with Casacanda was a good option. The German site has 250,000 members and in the last month, earned another 90,000. By tying up with Casacanda, Fab has won an additional 2.3 million members.
Before Fab’s tie-up was announced, Jason Golberg had hinted at a possible international expansion when the site hit a 2 million member mark. In just six months, Fab boosted its valuation to $175 million. Goes to show how an interesting idea can earn returns and lead to global expansion even in these difficult times. Although, there’s only so much you can push locally, flash sale sites like Gilt Groupe have laid off 10 percent of their staff. For continued growth, companies like Fab have to look outside the American economy, and they’ve said that going international was something they were thinking of all along. Good luck then, Mr.Goldberg and hope Fab.com gets even more designer chic, with its German and Swiss connections!