Post by The Ken

Despite the initial setbacks of the pandemic, the Indonesian furniture industry continues to rapidly expand with exports growing by 18.6%.  How then, is the furniture company Fabelio struggling even as its competitors like Dekoruma raises funds and expands? Six-year-old Fabelio had a simple mission: create a mid-range home decor and furniture brand of the growing Indonesian urban middle class. Yet, vendors to customers and even employees are unhappy with it. Why? Customers complain online about delayed and canceled orders. Vendors claim Fabelio doesn’t settle dues. Employees raise even serious allegations, they haven’t been paid since September nor have their mandatory contributions to health insurance covered. It’s surprising that a company that reported revenue growth of over 6000% between 2015 and 2018 would find itself in this mess. Fabelio’s CEO points to the pandemic and a delayed Series D funding as the main reason for its cash crunch. However, insiders tell another story. Fabelio isn’t a startup that has lost its way in a highly competitive space, it's a company that seems to have prioritized strategies that backfired in the long run, writes Nadine Freischlad and Ahmad Rifai in today’s story. Read the full story on The Ken web. Find the link in the comments below. #TheKen #Indonesia #Pandemic #furniture #Decor #HomeDecor #furnitureindustry #Fabelio #IKEA #Growth #Dekoruma