Fab buys One Nordic Furniture

Online retailer Fab has purchased One Nordic Furniture Co. in a deal reported to be in the "tens of millions," as Fab transitions from its original flash sale model to focus on private label goods.

The sleek Scandinavian designs fit with Fab's aesthetic and its stated plan to rework its business around proprietary goods.  

"Teaming up with One Nordic adds incredible talent to our design bench and brings us ever-closer to our suppliers and manufacturers," Jason Goldberg, co-founder and CEO of Fab, said in a statement, reports Mashable. "We are excited about the design collaboration to come."

Fab's viability has been called into question following several rounds of layoffs in the past year. The retailer slashed staff by one-third last month, spurring a report that Fab was nearing its end. But the reports were vehemently denied by Goldberg, who called them "hateful rumors" in a tweet.

"We've got years of money & a sound plan. Proof in time," he said. Terms of the acquisition were not disclosed.

For more:
-See this Dezeen Magazine story
-See this Mashable post

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