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Fab Generates 20% Of Its Revenue From Europe
Gay oriented shopping and design platform, Fab.com is growing fast and especially in Europe.
New numbers has helped to show why Fab is one of the fastest growing online platforms. Thanks to aggressive expansion in Europe, Fab now reaches 24 countries in the EU. What started out as a 60,000 user base after Fab acquired a German company specializing in selling to gay men has grown into a massive following of more than 1.4 million users.
The strong growth in numbers is expected to make Fab a $100 million+ business in Europe by the end of 2013. The UK in particular is contributing well to the strong sales numbers and accounts for little more than 10% of all Fab.com sales.
New dynamics calls for new leadership too and Fab has promoted Maria Molland, who has been very key in helping the company to grow in Europe. Molland will now become Fab’s CEO of European operations.
Overall it seems like the spending spree undertaking by Fab’s founders is paying dividends and Europe is expected to contribute 20% towards the company’s revenue figures for the 2012 trading period.
The future of Fab looks bright and the customer base is far from being completely tapped. The profile of gay men in North America and Europe is higher than it is most other parts of the world. When that status quo changes, Fab will have an even bigger pool of customers.