Fable triples sales year-over-over by leveraging Shopify Capital for increased inventory
Fable began as a solution to a personal problem, according to Joe Parenteau, the brand’s co-founder and CEO. Tired of housewares in all the usual, big-box stores that didn’t really offer longevity or craftsmanship, Parenteau thought about subsequent home decor shopping: Who is buying aesthetic and functional housewares that last, and what is the future of that?
In November 2019, Fable launched online, selling out of products early and gaining traction fast, managing to sell through every restock. But Fable’s challenge, like many other young brands, was paying for restocked inventory. New companies, Parenteau says, get supplier contracts that cause a big capital constraint. For Fable, Shopify Capital became the solution.
Over time, added sales certainty and leveraging Shopify Capital for product restocking helped ease negotiations with suppliers. With more money to use upfront, Fable was also able to get more inventory from their sustainable factory partners in Portugal and Japan, further strengthening their relationship with suppliers. The company will use Shopify Capital once again to power enough inventory for peak selling season in November.
- 3x sales increase year-over-year ;
- 2x increase in stock year-over-year;
- Eased negotiations and terms with suppliers
Results may vary for every merchant. All loans through Shopify Capital in the United States are issued by WebBank.
"Without Shopify Capital, we’d probably move a lot slower. Extra capital allows a business to move really quickly and seize on opportunities when they appear."Joe ParenteauCEO and co-founder, Fable