Stitch Fix

Summary
Stitch Fix, Inc. sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc. and changed its name to Stitch Fix, Inc. in October 2011. Stitch Fix, Inc. was incorporated in 2011 and is headquartered in San Francisco, California.

History

Stitch Fix was founded in 2011 by Katrina Lake and former J.Crew buyer Erin Morrison Flynn. The business was originally called Rack Habit, and was initially run out of Lake's apartment in Cambridge, Massachusetts. The company began by catering only to women, but it has subsequently expanded to men's clothing, plus sizes, maternity wear, and kids.In 2014, Stitch Fix started to be profitable. In July 2016, the company ended its fiscal year with recorded sales of $730 million, and in May 2017, the company had raised $42 million from outside investors.In November 2017, the company went public on NASDAQ. It was the first female-led company to launch an IPO in over a year.In October 2018, several class action lawsuits were brought against Stitch Fix alleging that the company had violated federal securities laws by making misleading statements about its growth prospects.As of 2019, the company had 8,000 employees including 5,100 stylists and more than 100 data scientists.On June 2, 2020, the company announced layoffs for 1,400 employees, which was 18% of its total workforce, all of whom were remote workers in California. The affected employees were given the option of remaining with the company if they relocated. The online retailer also announced it would hire roughly 2,000 stylists in cities that have a lower cost of living than those in California, such as Austin, Cleveland, Dallas, Minneapolis, and Pittsburgh.In August 2021, Elizabeth Spaulding replaced founder Katrina Lake as CEO.


Mission
At Stitch Fix, our mission is to change the way people find and buy clothes. We do this by creating a personalized styling experience tailored to the individual tastes and preferences of our customers.

Vision
Transforming the way people find what they love

Key Team

Mr. Sachin Dhawan (Chief Technology Officer)

Mr. Eric Colson (Chief Algorithms Officer Emeritus)

Ms. Sarah Barkema (VP & Chief Accounting Officer)

Mr. Brad Klingenberg (Chief Algorithms Officer)

Mr. Hayden Blair (Sr. Director of Investor Relations & Treasury)

Casey O'Connor (Chief Legal Officer)

Ms. Debbie Rose Woloshin (Chief Marketing Officer)


Recognition and Awards
Stitch Fix has been honored with numerous awards, including the 2020 Recharge Awards for Most Innovative Company of the Year and the 2019 Webby Award for Best Use of Machine Learning. Additionally, the company has been named to Fast Company’s Most Innovative Companies list multiple times and has been featured on several lists of the best companies to work for.

References
Stitch Fix
Leadership team

Ms. Katrina M. Lake (Founder & Exec. Chairperson)

Ms. Elizabeth Spaulding (CEO & Director)

Mr. Dan Jedda (Chief Financial Officer)

Products/ Services
E-Commerce, Fashion, Retail
Number of Employees
1,000 - 20,000
Headquarters
San Francisco, California, United States
Established
2011
Company Registration
SEC CIK number: 0001576942
Revenue
Above - 1B
Traded as
SFIX
Social Media
Sun Mar 03 2024
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