Fab.com Enters UK Market with Llustre Acquisition
Fast-growing flash sales site Fab.com has just acquired Llustre, a young, London-based online retailer that sells designer housewares, reports Wired. This marks Fab’s third acquisition, and its aggressive effort to expand operations overseas.
Llustre, which boasts more than 500 design partners, has already relaunched as Fab UK, and the company’s team of 25 employees will stay on to continue operations, according the official press release . The deal, which took less than a month to close, was one of the fastest in UK history, reports TechCrunch.
Fab, which has five million members and works with over 5,000 designers, will now have access to a million members in Europe thanks to Llustre and the recently acquired German sales site, Casacanda. Fab said it predicts European markets will contribute to 20% of its total sales in 2012, reports TechCrunch.
The company was unable to comment on the recent acquisition.