If you just measure signups, I can come up with a page that will convert 100X better in a second. "Get $1000 when you sign up".
I'm not a member, but from what I can tell you gain access to below retail cost of high design products. Sort of a Woot for the design savvy set.
"Fab.com features daily design inspirations and sales at up to 70% off retail."
That pretty much sums it up. It also got me to give them my email address.
"Design" is so generic, it can mean many things - a desktop wallpaper, a skin for Firefox, a knitting pattern.
http://www.betterlivingthroughdesign.com/ http://uncrate.com/ http://svpply.com/ http://breathemodern.com/
For those not in their target audience, I could see how it could be confusing.
We've A/B tested many other variants and this far out performs all else.
Sounds like not clothes (which is tough for these types of sales anyways with sizing and inevitable returns issues), but everything else. If you've been to the MoMA store in NYC I expect there would be a lot of similarities, though not at a discount.
I must say, since I was expecting things like plastic injection, aluminum milling, and circuit board construction, the needle point definitely was effective at resetting my expectations! Still, I was confused by the tag line, as I still had it in my mind that it was a place for designers (albeit, now they're needle point designers in my head) to hang out, not for people to go and buy things.
EDIT: Now I see that it's not needle point, just regular paper art. The signup banner projects dots over much of the background, making me think it was needle point.
Must be the HN demographic. I thought the same thing, too.
I say this as a business owner who actually has includes the word "Design" in the name of my legal entity.
I did not bother to look for an About page. I gave you the free minute I had at the time. You do have a nice looking layout though.