E-commerce design site Fab is gearing up to make its second big pivot, and further "reinvent and reimagine shopping."
Fab co-founders Jason Goldberg and Bradford Shellhammer made a risky decision back in 2011. They decided to kill off their social network for gay men, Fabulis, and relaunch it as Fab.
In hindsight, it was probably the smartest move they ever could have made.
Since Fab's first pivot, the site has grown to more than 12 million members, generating more than $200,000 per day. In 2012, Fab says it evolved from design flash sales to "the world's leading everyday design retailer."
Now, Fab is at it again.
"We’ll be pivoting towards a new model that we are not yet ready to reveal publicly," Goldberg wrote in his site Betashop in December 2012. "That pivot will be gradual. I can promise you one thing: It will be 100% towards delivering the best customer experience in the world for discovering everyday design. We’ll offer even more unique products supported by an even better experience."
The details are scarce, but it sounds like Fab is looking to design and make more of its own products.
The goal is to become "the world's alternative to Amazon and Wal-Mart," Shellhammer told Fast Company's Kelsey Campbell-Dollaghan last month.
"The only way to compete in the world of Amazon is to sell things that Amazon doesn’t sell,” Shellhammer said. “We’re building a brand, and part of that is bringing the brand to our own line of products.”
Earlier this month, Fab held a competition called Disrupting Design, in which it asked designers and students to submit product ideas and prototypes for judging, on the spot. The three winning designs will be made and sold on Fab, co-branded as Fab x [Designer].
We reached out to Fab to learn more about the pivot, but the company told us we'll get the full details on April 29 at a press event in New York.
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