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According to the website, Fab exists for one simple reason: To make you smile. Always great to have a simple, clear or even catchy mission, but looks like these guys also intend on world domination. Businessweek looks at the online retailer where its 12+ million registered users have racked up more than $100 million in sales last year. The store “for everyday design” is packed with whimsy, camp and kitsch in clothing, accessories, electronics and just about everything for the home. Both new and vintage merchandise ranges from the inexpensive and practical to the cute and clever to the novel and ridiculous. All pretty darn affordable. All very much tied into social media whenever possible. And all with a friendly, quirky brand persona that clearly has helped fuel the stellar expansion. This year, Fab is launching extensive lines of private-label merchandise including luggage, linens, and jewelry. International expansion continues with presence in 16 countries (mostly in Europe) with eyes on Japan, Brazil, Turkey and India. To go along with the growth, the company just raised $100+ million in venture capital from a group of investors that include Andreessen Horowitz and Atomico Ventures, a European firm led by the founders of Skype. Think Ikea meets Urban Outfitter meets Spencer Gifts (blast from the past, but yes, still around). Hamburger sweatshirt, beard hat or a package of rabbit legs, anyone?
