TIMIA Helps Fable Set the Table for Expansion

About Fable

Fable is a lifestyle brand that makes sustainably crafted homeware for the dining table, living room, and beyond. Its signature products outfit the table – think ceramic bowls and plates in a range of neutral earth tones, intentionally made to be easy to mix and match.

In 2019, the three co-founders, Joe Parenteau (CEO), Tina Luu (Head of Technology), and Max Tims (Head of Operations), started Fable out of a personal need to level up from their starter home decor. But when they went searching for alternatives, they found themselves overwhelmed with design choices and faced with options that were hard to pair together.

“We started Fable to build what we believe is the new version of home decor: one simple, clean design where all the pieces are meant to mix and match across the entire home,” said Parenteau. “We want to build something that will go across not only the tabletop, but also bedding, lighting, bath, and furniture in the future.”

Sustainability at its Core

As a Certified B Corporation, the company puts sustainability at the forefront of everything it does. For the company, certification means meeting the highest standards of verified social and environmental guidelines. For the customer, it means products built to last, with packaging that’s 100% recyclable and plastic-free.

Fable sources goods ethically, working only with makers who share a commitment to ethical production practices and high-quality products that offer an elegant design coupled with a high degree of functionality and durability.

The company sources products from around the world, including from large manufacturers and family-run shops. Its glassware is made in Japan, the ceramics come from Portugal, rugs are made by hand in India, and a variety of products are sourced from the U.S. and Italy. 

“We look for different technologies that unlock that intersecting point between design and usability,” said Parenteau. “For example, our glassware is made very thin and delicate, but they’re durable. You’ll see this across our newer products as well, especially our rugs. We make thick wool rugs that you can put in a machine wash.”

The Path and the Pivot

The company started with a focus on ceramics, but it wasn’t long before customers began asking for glassware and other pieces to outfit the home.

Today, Fable sells its dinnerware and home decor, like rugs, planters, wall art, and frames, online and in two physical locations in Canada – Vancouver, BC and Toronto, ON. 

When speaking about Fable’s product expansion, Parenteau is candid that it wasn’t a straight line.

“Being an e-commerce-led company meant we couldn’t actually go create everything on the table,” he said. “We have different order values and cost of acquisition thresholds that have to be met. We knew eventually there would be diminishing returns on smaller pieces like candle holders or candles.”

Instead of outfitting an entire table, the team shifted its focus to the core pieces of the tabletop, then expanded from there into other rooms. Smaller products are launched based on how well they complement a core piece. For example, it makes sense for the company to sell ceramic mugs alongside its ceramic dinnerware.

“Ultimately, we’ve moved away from launching these smaller average order value products,” said Parenteau. “It’s really hard for us to measure how much money we actually spent to acquire a customer whose first purchase is a non-hero item. So, it’s not necessarily that we won’t ever launch smaller downmarket products, but it has to really fit into whatever that core piece is.”

Looking Ahead

Fable’s partnership with TIMIA will allow the company to continue investing in areas where they’ve already seen success. This includes e-commerce growth, product expansion, and potential channel and location expansion.

Before partnering with TIMIA, Fable had already raised Seed and Series A rounds of equity capital. Parenteau said the choice to work with a debt capital provider this time was a strategic one. 

“We’re getting to a point where we have enough critical mass and repeatability inside the organization that debt has become a strategic option for us,” he said. “It’s better for us to not have as much dilution from a shareholder standpoint. We look at it like a diverse capital stack, so it’s not all one or all the other, at any given point.”

Like any meaningful deal, the path between introduction and close wasn’t linear. Both TIMIA and Fable benefited from the other’s flexibility and creativity in getting the deal to the finish line.

“What we found really valuable in TIMIA’s partnership was the openness to creative workshopping on how we get this across the line,” said Parenteau. “The team always showed up in a way that was collaborative. It was always very solution-oriented, so I really appreciated that.”

Looking ahead, Parenteau said the company is only five percent of the way to its big vision. In the immediate future, he said they’re focused on product expansion, especially across bed, bedroom, and bath.

“We want people to come into Fable and be able to outfit their entire home with us,” he said. “And we want Fable to continue to build a very clear and distinctive design opinion and perspective; one that is beautiful, functional, and good for the planet.”

• Share