Fab: Europe Will Be 20% Of Fab’s 2012 Revenue

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Design shopping site Fab.com released new numbers today related to its European expansion, and brief details about its plans for future growth in that market. The company says that it now reaches 24 countries in the European Union, and it has grown its membership from 60,000 to 1.4 million in 7 months. Fab believes it’s now on track to be a $100 million+ business in Europe by 2013, with Europe contributing to at least 20% of Fab’s revenue this year.

In related news, the company also promoted Maria Molland, who has been instrumental in the European rollout, to Fab’s Chief European Officer.

Before Fab, Mollan was Global Managing Director of Lipper and Digital Ventures, two subsidiaries of Thomson Reuters. And prior to that, she was General Manager of Marketwatch and Barron’s online, two subsidiaries of Dow Jones. Fab CEO Jason Goldberg says she will be working out of Fab’s Berlin office, which now has 105 employees. By year-end, that number is expected to grow to 150.

Part of the European market’s growth, like the U.S. growth, is from repeat customers. Where the U.S. sees 67% repeat business on daily sales, Europe has climbed to 50% on weekly sales. Molland will be tasked with getting the European numbers more on par with the U.S. in the weeks ahead.

Keep in mind that some of Fab’s growth in this region came in via acquisitions. In February, the company bought German flash sales site Casacanda for a reported $11 million. And in June, it grabbed UK design store Llustre. Weeks later, and the UK is now accounting for nearly 10% of Fab’s European sales.