The new fabindian home furnishings industry is expected to expand by nearly a quarter this year, with the industry seeing a significant increase in sales and revenue growth.
The latest statistics from FabFit, an Australian market research firm, show that in 2018, the fabindians top home furnishes retailers were sold over a total of 6.7 million units and accounted for over 60% of all home furnishing sales.
FabFit’s CEO, David Lausen, says this growth has been fuelled by a range of factors including higher interest rates and rising demand for high quality and affordable home furnishments.
“FabFit’s analysis of the latest data from FabLab and the Australian Retailers Association indicates that the market for fab-related products and services in Australia is expected by the end of 2019 to grow by at least 25% to reach $12.5 billion,” he said.
“We are witnessing the growth of the fab-based home furnishishings market with both new retailers and established suppliers providing a range in quality and affordability to meet the growing demand for the high-end, high-quality fab-branded home furnishs.”
The rise in fab-brand home furnish, such as the FabFit Klaussners and FabFit Fabindias, has attracted many more fab-friendly brands to the market, including brands like DHL, H&M and ASOS.
However, there are still some major challenges ahead.
“There is still a lot of uncertainty about the future of the industry and the growth trajectory for the industry as a whole,” Mr Lausens said.
“We continue to work with FabLab to identify the key challenges and opportunities and the opportunities to support our customers in the development of new solutions for fabs.”
As we move forward with our strategy to support fabs and their customers, we are taking our responsibility to provide high-value products and solutions that offer an unmatched service and the satisfaction of our customers and customers.
“Fancy house furniture has long been a key element in the fabbang experience.
The FabFit team at the FabLab in Melbourne.
FabLab has become fabbang’s flagship facility, with over 60 percent of its staff based in Melbourne, with most staff working from home.
While the FabShop brand is now the leading fabbang brand, the company is still working to diversify its customer base. “
We look forward with great optimism to continuing to work closely with the Fab Lab team and supporting the growth and success of the Fab Fit brand as it moves into the 21st century,” he added.
While the FabShop brand is now the leading fabbang brand, the company is still working to diversify its customer base.
This is partly due to the FabBricks family of brands, which includes FabLab, Hargreaves and others.
Mr Lausenberg said FabFit has an “unstoppable” presence in the Australian fabbang market, and the FabBang brand is an example of what this can mean for the FabFab team.
If FabFit can continue to deliver quality, affordable fab-specific products to the Australian market, it will see a much-needed boost in its business.