Stitch Fix, an online clothing subscription retailer, is disrupting the way people shop for and buy their outfits by bringing the dressing room to the customer, digitally. In this week’s Sunday Spotlight, NBC’s Jo Ling Kent sits down with the company’s founder and CEO, Katrina Lake, to hear how she grew the company to be worth around $2 billion, the new launch of Stitch Fix Kids – and see where she’s taking her business next.
If you’re already a fan of Stitch Fix, you’ll know just how awesome their shopping service is. The convenience of hand-picked clothes delivered straight to your house is about to change the way you do back-to-school shopping with the new addition of a kids service. Read on for four amazing reasons why Stitch Fix Kids will make shopping for clothes a blast.
Shopping for kids' clothes with your child is not always fun. He doesn't want to try things on, or he wants T-shirts you find vaguely horrifying, or usually, he is just not interested and as you hold up each outfit all you hear is, "I don't care!"
So it's pretty genius that Stitch Fix Kids will now send a box of 8 to 12 items for your child right to your door. You take a style quiz (Is your kid musical or sporty or both? Confident or shy?) and give size info (2T to 14). You fill in what you need most: T-shirts, jeans, pajamas, whatever, plus how much you'd like to spend. The pieces will all be between $10 and $35, so nothing gets too pricey!
Clothes shopping for your child can be an overwhelming experience, given the loads of fashion options for kids today. It's easy to get lost in the racks. But because Stitch Fix launched a kids' line of clothes, dressing your child just got easier than ever. Frantically pulling together a kid-friendly outfit every morning may be a thing of the past
The last time we spoke with Katrina Lake, the Stitch Fix CEO had recently taken the online personal styling company she founded public, a feat that made her the only woman to lead a tech IPO in 2017.
Despite a rocky start — the company didn't IPO at the price Lake wanted — the months since have brought a series of wins: The release of two new product divisions (Extras and, soon, Kids), a 30% increase in active clients, and two consecutive quarters of beating Wall Street's revenue expectations. There have also been some growing pains: Stitch Fix shares fell slightly in late May after Lake said she didn't see Amazon's new foray into fashion, Prime Wardrobe, as a threat at the Code Conference.
Wall Street has long loved subscription businesses. From Costco to Netflix to Dollar Shave Club, the successful ones lock in customers who provide a steady, predictable stream of revenue.
The latest subscription love interest is Stitch Fix, the fashion service that had its initial public offering in November. Investors were skeptical, partly because it came after Blue Apron, a meal-kit subscription service that has largely tanked, and partly because it wasn’t clear whether a subscription model could work for clothing. After all, do consumers really need constant wardrobe updates?
That might depend on which consumers you ask
Katrina Lake has enjoyed storybook success as an entrepreneur.
After graduating from Stanford University in 2005, she worked at a consulting firm and a venture capital firm before attending Harvard Business School. With her M.B.A. in hand, she moved to San Francisco and founded a technology company, Stitch Fix, in 2011.
Katrina spoke at CODE Conference 2018, Recode's annual tech conference. She discusses diversity, IPO pricing, and Amazon, among other topics. Watch the video and read the full transcript of Katrina's session.
Are the challenges of modern day retail solvable with data science? Personal styling service Stitch Fix thinks so.
The San Francisco, Calif.-based company has forged a new kind of retail business model that uses data and AI to serve curated, personalized fashion boxes to its customers.
Fifteen floors above San Francisco’s historic shopping district, Stitch Fix CEO Katrina Lake is scrolling through her client queue, selecting clothes for a 47-year-old mother in Southern California. Lake is in the midst of a busy month. In addition to running the 5,800-person company she started out of her apartment seven years ago, work is taking her to Berlin and New York City. But she is still taking time to style “fixes,” the personalized boxes of clothes that her company has shipped to more than 2.5 million people in the past year.