At Recode’s second installment of the Code Commerce Series -which took place in cooperation with Shoptalk in Las Vegas this week- Stitch Fix CEO Katrina Lake said that they had not hit $1 billion in revenue yet.
More interesting though is how the new businesses are doing. Recode:
Lake did provide some context on the growth of some of Stitch Fix’s newer businesses. For example, in six months, its men’s business got to the same size as it took the women’s business about 3.5 years to reach. (Stitch Fix was founded in 2011.) And its recently launched plus-size business will do about as much in its first month as Stitch Fix did in its first year of business, Lake said.
Extending a business model for which one has already built processes and gained knowledge on into new categories should always come with a higher growth rate.
Still, promising numbers.
See also the interview with the Stitch Fix CEO at last year’s Code Commerce.
New reports are suggesting, yet again, that Stitch Fix is mulling going public. Bloomberg:
Executives have held early discussions with bankers about a potential deal, and the board plans to decide in the next month whether to pursue a public offering, said the people, asking not to be identified as the process is private. The company, which counts Benchmark and Lightspeed Venture Partners among its backers, also turned down late-stage money from several interested investors, one of the people said.
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