After an incredibly successful 2009 and the opening of their German office in October, France’s MyFab officially announced its US launch this week. The company that offers premium products at the manufacturer’s price – including modern furniture and jewelry – has set-up shop in California.
Kara Parsons, formerly a Macys.com executive for 8 years, has been nominated to lead the company’s US division. MyFab’s US office is based in San Francisco with a small logistics team in Los Angeles. The company plans to open an additional branch in New York and open several additional international offices by summer of this year.
The innovative e-commerce and on-demand production model allows consumers to purchase high-quality goods at only a tiny fraction of the price. By cutting out all the middlemen and letting users buy directly from the manufacturer, MyFab boasts a price decrease of up to 80% on most of their products. Additional discounts are also offered through a vote system, whereby consumers having voted for a particular product receive a discount once it goes into production. The most popular product is the company’s beanbag chair, of which they have sold over 500,000.
While MyFab’s headquarters are in France, the French office has a rather small headcount. A majority of the team is currently based out of China, where the various production facilities are located. In order to verify the quality of the products and the speed of delivery – 3 months maximum for larger and heavier goods – MyFab’s proximity to the factories is essential for its business. Plus, with Shanghai’s growing international expatriate community, the company has managed to assemble the international support team all in one place. Thus, anyone who calls MyFab’s customer service will be redirected to China but will speak to someone from their native country.
By the end of 2010, the company is planning to have doubled their current total employee count of 175 and to have launched several new product categories. MyFab is also planning to raise a third round of funding to add to the €7 million they have raised to date with Alven Capital, Batipart Participations and BV Capital.