Fab new weapon: Brand new furniture decoration and design hem

Absrtact: July 7, in the crisis of the US electric business start-up Fab, you should now have a new understanding, it is said that the once hit star Enterprise has found a new way, at least their CEO Jessen Goldberg (Jason Goldberg) think so,

On July 7, you should now have a new understanding of the crisis-maker of the US electric-business start-up, which is said to have found a new way out, at least Jeson Goldberg, its CEO, hit. And its new weapon is brand new furniture decoration and design hem.

CEO Jeson Goldberg

A series of recent events in Fab have upset investors, but Goldberg is trying to prove by hem that he can build a successful industry with the support of a 300 million dollar wind.

Asked if Fab had the potential to be a billions of-dollar enterprise with the help of Hem, Goldberg said: "I will tell you my commitment to investors: we are not working together for two years, but will build a business that lasts 10 years and 20 years." ”

In order to achieve the commitment, Goldberg needs to run hem into a veritable success brand, not a repeat of the fab mistakes.

In the past two years, Fab's history has been like a roller coaster. In less than a year's time, the company's staff from the original 700 to only 200 people left. Fab's first mass layoffs came one months after the company successfully financed $150 million trillion. At that time, Fab's total external financing had reached 300 million dollars.

Under Goldberg's leadership, the company has undergone four rounds of layoffs and restructurings, which has led many industry watchers to ask whether he knows what he has done and why he has been able to run the company.

Hem is expected to be a new project announced shortly before the company, which is scheduled to be online in the next three months, its flagship Fab design Home products.

According to Goldberg introduction, Hem brand products have the following advantages: first, outstanding design; second, according to customer requirements specifications customization; Three, without tools to achieve assembly. As no need to go through the dealer, the price of hem products will be reduced, plus control from design to production of the entire manufacturing process, the quality of its products will be guaranteed.

Goldberg said: "We will implement a complete set of solutions, operating in the same way as the glasses electric dealer Warby Parker, but we are closer to the production process." ”

However, there is a risk that fab practices will be placed on the home sector, which is now developing slowly in the electric business sector. For this, Goldberg said, based on past experience with the company's private furniture and home furnishings, he believes the hem project will have a very positive effect.

Fab entered the industry through the acquisition of German online custom furniture company massivkonzept in 2013. According to Goldberg, the sale of the business is now more than 10 million dollars, close to achieving a break-even. In addition, Fab also acquired a European furniture design company named one Nordic.

Goldberg said physical retail stores would play an important role in Hem's strategy, which would open three physical display shops in Germany and be expected to expand in Stockholm, Helsinki and New York. In addition, the company may sell its products through other retailers. "We don't sell sofas only through the internet," Goldberg said. ”

Although Goldberg expects more from the hem brand than Fab itself, he says Fab.com will continue to operate with a small team in New York and a technical team still in India. Fab.com will operate the products of other designers and retailers, and the products that are designed will be sold by the hem website.

For Goldberg, the problem is that ideas get too fast. After the first wave of layoffs last summer, Goldberg said it would plan resources to shift companies from flash-shopping to traditional dealers. Recently, however, the company said it would free more resources to sell its own branded furniture and home furnishings.

Asked if the hem can not achieve the desired effect, whether it will face the situation of no way to go, Goldberg laughed, said: "We have a lot of story chapters, not to be continued, we will continue to try." ”