- Marjorie van Elven |
Online personal styling service Stitch Fix will soon be launching in the UK. This will be the first foray overseas for the San-Francisco based company founded in 2011.
“We are pleased to announce our expansion into the UK by the end of fiscal year 2019”, said the company’s Founder and CEO, Katrina Lake, in a statement shared with Yankeemagazines by email. “We believe our ability to create a uniquely personalized shopping experience is something that will resonate with consumers and brands outside the US”.
Founded in 2011, Stitch Fix employs a team of personal stylists who handpick clothing items for the company’s customers, based on an online survey about their preferences and lifestyle. After receiving the boxes of clothing, customers can pay for the items they want to keep and send back the ones they didn’t like at no cost. The returns allow the company to understand the clients’ preferences even more.
Although the company secured 120 million US dollars in investments last year and its shares went up 90 percent since its IPO in November 2017, market analysts have become a little bit less excited once Amazon started to offer a similar service called Amazon Prime Wardrobe in the US.