We are all familiar with celebrity stylists, such as Rachel Zoe or Nicole Chavez — paid to pick out and put together fashionable outfits for their well-known and high paying clientele. With the launch of Stitch Fix, however, you no longer have to be a celebrity or high-end consumer to have a personal stylist.
Founder and CEO, Katrina Lake, has done an impressive job growing the company and raising funding, including the recent $4.75 million Series A funding led by Baseline Ventures and Lightespeed Venture Partners. Lake has created a team of stylists and given them analytical tools to help them select the key wardrobe pieces that fit each individual client’s taste. The best part? Stitch Fix also tailors their services to fit each client’s budget. It really is personal styling for the everyday person.
Fashion tech is nothing new to this girl. Prior to starting Stitch Fix, Katrina managed Blogger Syndication at Polyvore, and worked with the personal shopping newsletter, Shop It To Me. She also worked in venture investing and consulting at The Parthenon Group and later at Leader Ventures.
So how exactly does Stitch Fix work? Users simply answer questions about their personal style and the Stitch Fix team takes over from there. They email you with updates that they think would be good outfit choices for various occasions, all while considering your size, lifestyle and budget. You pick a date and for a $20 styling fee up front, Stitch Fix will send a box of 5 hand-picked clothing and accessory items. Try on everything at home, decide what you like, and send the rest back. Pay only for what you keep (the $20 styling fee goes toward your purchase) and receive a 25% discount if you decide to keep all five pieces.
When asked by Nerd Wallet to give advice to other entrepreneurs, Katrina recommended three simple but important things (all of which we couldn’t agree with more).
1. “Be absolutely passionate about the idea. You have to live and breathe it.”
2. “Don’t be afraid of competition.”
3. “Your team is crazy important. Quality is worth paying for.”
With revenue doubled since December 2012, Katrina and the team at Stitch Fix seem to know what they’re doing. We’re sure the future will only bring more exciting things for the San Francisco based company.
To stay up to date with the latest from Stitch Fix, follow them on twitter @stitchfix.
Kellie Friedman was a Research & Editorial Intern for TWF. Third Wave Fashion has been your fashion tech think tank since 2011. We publish the first ever printed fashion tech magazine, Third Wave. Follow us on Twitter or subscribe to our newsletter to stay on top of the latest in fashion tech + wearables.
Image via Stitch Fix.