PCH ACQUIRES FAB.COM
SAN FRANCISCO, CA – (March 3, 2015) – PCH, which designs custom manu- facturing solutions for startup companies, today announced the acquisition of US- based ecommerce website Fab.com for an undisclosed amount of cash and eq- uity. The acquisition aligns with PCH’s strategy to enhance its distribution chan- nels for designers and startups that partner with the company.
“We are delighted to announce the acquisition of Fab,” said PCH Founder and CEO Liam Casey. “We love the brand, the customer experience, and the focus on lifestyle products. We see an opportunity to reinvigorate the Fab audience – keeping the current focus, and adding a variety of more distinct and exclusive goods from designers. And because Fab has a flexible and dynamic technology platform, we have a good foundation to test new selling modes that will excite customers.”
In recent months, Fab has undergone significant restructuring to bring costs in line with sales, to stabilize operations, and to grow its core audience of urban professionals and design enthusiasts. As a result, Fab is a smarter, more efficient organization under the leadership of General Manager Renee Wong. Fab has a high Net Promoter Score, indicating that shoppers are pleased to recommend the experience to friends.
As part of the deal, 35 Fab employees – including engineers, merchants, graphic designers and marketers – will remain with the company. Fab founder and former CEO Jason Goldberg has stepped down as CEO and will not be involved with the business going forward. Renee Wong, general manager since May 2014, will continue to run day-to-day operations.
Key hires in merchandising and marketing will be added to supplement the expe- rienced core team, and additional measures will be undertaken to grow the busi- ness and attract established and emerging designers. PCH will also explore forming a design advisory board and recruiting a creative director in residence.
“ We will work with third party brands, as well as partner with industrial design firms and design schools around the world to identify up-and-coming designers and give them a platform to bring products to market on Fab,” Liam said. “And, we will continue to work with the designers and brands we know to bring new products to Fab’s audience.
“We will experiment with emerging ecommerce strategies that stimulate demand by offering a limited number of exclusive, on-demand products in a narrow win- dow,” Liam said. “We can take products from concept to manufacturing and deliv- er them straight through to customers, which means we have a lot of flexibility to do things differently.” PCH, a privately held Irish company with USA headquarters in San Francisco, had over $1 billion in revenue in 2014, and works with some of the best-known brands in the world to make and deliver consumer products internationally. The company has significant manufacturing operations and logistics facilities in Shen- zhen, China.
ENDS About Fab
Fab is a design-focused company, dedicated to helping our customers discover fun and unique products. Our buyers are constantly seeking out the most exciting new artists and designers of accessories, accent pieces, and eye-catching tech products. At Fab, it's our mission to bring personality to every corner of your life.
About PCH PCH designs custom manufacturing solutions for the world’s best brands, from hardware startups to Fortune 500 companies. If it can be imagined, it can be made. At PCH, we make. PCHintl.com.
Press Contacts:
USA CAMRON PR Amanda Kasper [email protected] +1.415.423.0680
Ireland Grace Milton / David Callaghan, Edelman [email protected] / [email protected] 00353 1 678 9333
PCH Claudia Ceniceros VP Corporate Communications [email protected] +1.415.860.7854