initial public offerings (IPOs) trading on American exchanges

Tuesday, October 17, 2017

Stitch Fix (SFIX) started trading on the Nasdaq on 17 October 2017

Stitch Fix is an online subscription and personal shopping service in the United States. 
  • Founded in 2011
  • Headquarters: San Francisco, CA
  • Founder and CEO: Katrina Lake; the youngest woman to take a company public

Stitch Fix Chief Executive Katrina Lake 

  • 10 days later:

Back in 2010, Lake tested the Stitch Fix concept for the first time in her apartment in Cambridge, Mass. while she was getting her business degree at Harvard Business School. The company officially launched in 2011, and six years later, the company -- which became profitable in 2014 -- now has over 5,700 employees and more than 3,400 stylists on staff, three offices, five warehouses and 10 remote styling hubs.

How Stitch Fix Works

The company has shipped millions of Fixes to date. Here’s what the smart-shopping process looks like.

1. Users fill out a 10- to 15-minute online or in-app Style Profile, indicating their fashion sensibilities, sizes, and budget.

2. An algorithm compares the customer’s preferences to Stitch Fix’s inventory of nearly 700 brands (plus the company’s 18 exclusive labels) and generates a list of items she’d be most likely to keep.

3. For a $20 styling fee (to be applied as a credit to any items that are kept), the list is assigned to one of Stitch Fix’s 3,400 personal stylists, who review the options against the shopper’s profile and choose five pieces to be sent. A note about how to style or accessorize the looks is included.

4. After receiving the box, the customer reviews each piece online, keeps what is wanted, and returns the rest. This data is logged on both the customer’s profile and the item, helping to better tailor future boxes to her taste.

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