Fab.com Grows Swiftly as Gilt Beefs Up on Buys
Fab.com, a flash sales site dedicated to contemporary design, is growing swiftly as the company added almost 200,000 new members in the past month, taking the number of orders to over ten thousand per week. This is really an impressive growth for a startup business running flash slaes online. Having these whopping figures on their end, Fab.com has recently added two C-level executives to take this growth to the next level.
As finance and operations will need maximum attention this time, both departments have landed new chiefs. While Beth Ferreira has stepped in as COO, David Lapter has taken command of Financial issues, joining as CFO. Before joining Fab.com, Ferreira was known as an operations consultant to several startup companies, including Birchbox, Pixable, JOOR, Nestio, RedRover Networks, fundedbuy, ofakind, and Postling. More notably, she was also VP of Operations & Finance at Etsy and a member of the investment team at VC firm Flatiron Partners. Ferreira has also held positions at The Boston Consulting Group and at the Union Bank of Switzerland. Lapter joined from KIT Digital, which acquired his previous company, KickApps.
Besides both these chiefs, Rob Forbes- founder of design-focused furniture and accessories store Design Within Reach, is also joining the company as an advisor.
The flash sales industry is making gains as a whole, especially for market leader Gilt Groupe. They’ve had a number of acquisitions this year as part of a concerted effort to consolidate the market and extend their own services. The latest buy is the troubled daily deals startup BuyWithMe, which will officially become the part of Gilt from November 1, 2011.
Not too long ago, Amazon’s flash sales site MYHABIT announced the first in a series of curated and vintage sale events, offering customers access to exciting collections at a broad range of price points.“The Curator” series of events will include hand-picked items from the industry’s top tastemakers. “Archive” events will feature vintage luxury and designer clothing, jewelry and accessories.
Recently, Rue La La also launched Little Rue to cater the fashion needs of the families. It features apparel, accessories and experiences that are kids-friendly.
The ongoing success in the flash sales market has also prompted more participation from the daily deals industry, and namely Google. The company is expanding Google Offers by teaming up with Dealfind, DoodleDeals, HomeRun, Juice in the City, PopSugar Shop, ReachDeals, Tippr, Kgbdeals, Gilt City, Active.com, GolfNow, Mamapedia, Zozi and Plum District to start additional offers in San Francisco, and later expanding to more cities in the US in coming months.
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