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As users abandon the three-year-old site by the millions, according to data from ComScore, Fab plans to withdraw from Europe to focus on the US and cut the number of categories of goods it sells.

Beth Ferriera, chief operating officer, is leaving Fab, just two weeks after Bradford Shellhammer, co-founder and chief design officer, stepped away from day-to-day operations. She will hand over at the end of the year. Mr Shellhammer will still advise the company.

Fab.com would not comment on Ms Ferriera’s departure, but said more detail would be offered by the end of the week.

“There will be a number of management changes involved as we streamline the organisation,” the company said.

Jeff Jordan, a partner at Andreessen Horowitz, which invests in the company, said the board backed Fab chief executive Jason Goldberg’s plans.

“We believe shrinking the company now will help position it best for the future,” he said. “Jason is maniacally committed to building a successful company, and he’s making the hard calls now to maximise the company’s long-term control over its destiny by achieving profitability as soon as possible.”

Fab.com expanded rapidly, going on an acquisition spree and establishing international operations early in its development.

But in the past year, monthly unique desktop visitors have fallen from 2.6m in October 2012 to 360,000 last month, according to research group ComScore.