Steve is the founder of Baseline Ventures, and a founding investor in Stitch Fix. Spaulding succeeds Katrina … [7] In 2017, Forbes named Lake one of America's richest self-made women. She would use the information to hand select outfits and send them to her customers. Customers can now buy individual items, including some suggested based on prior purchases or recommended to complete an outfit. Spaulding spent more than two decades at consultancy Bain & Co before joining Stitch Fix as president last year, with her current role involving improving shopping experiences and expanding the company’s international presence. The CEO, who founded the online styling service … Stuart Isett for Fortune Lake offered some advice to the next young, female public company CEO who comes along: … Stitch Fix was established in 2011 in San Francisco[2] and went public in 2017. Stitch Fix CEO, Among Youngest Female Founders to Go IPO, Moves to Executive Chair Katrina Lake will be succeeded as chief executive by Stitch Fix President Elizabeth Spaulding Stitch Fix CEO Katrina Lake will step down and become the board's executive chairperson. Stitch Fix founder Katrina Lake is stepping down as CEO. At the time, the company said it planned to hire 2,000 stylists in other parts of the U.S. with a lower cost of living, such as Dallas or Minneapolis. Katrina Lake (born December 24, 1982) is an American businesswoman who is the founder and CEO of Stitch Fix, a fashion-based subscription service. Early one morning last November, Katrina Lake stepped up to the podium at the Nasdaq MarketSite in Times Square, where her tech retail start-up, Stitch Fix, was about to go public. [26], Lake appeared as a guest shark on Season 11, Episode 14 of the ABC show Shark Tank, which aired on March 6, 2020. Although she’s stepping down as CEO, Lake will not only serve as executive chairperson of the Stitch Fix executive board, but will also work on Stitch Fix’s social impact efforts and more. Sign up for free newsletters and get more CNBC delivered to your inbox. [19][vague], Customers of Stitch Fix order "fixes" of five items, selected for them by professional stylists, as a one off or at scheduled intervals, and are subsequently given three days to choose which items they want to keep. [15][5][16], While pursuing her MBA from Harvard, Lake founded Stitch Fix in 2011 at the age of 28. Is Stitch Fix Still a Buy Now That Its CEO Is Leaving? [20] In 2016–17, Stitch Fix had $730 million in sales. Katrina Lake is the founder and CEO of the personal-shopping company Stitch Fix. Stitch Fix has struggled recently with shipping delays and reduced spending by customers. She says she had to convince the men in the room that Stitch Fix … Data is a real-time snapshot *Data is delayed at least 15 minutes. She will remain at the … Lake founded the online styling service a decade ago when she was a student at Harvard Business School. As of Aug. 1, she will be succeeded by Stitch Fix president Elizabeth Spaulding. [18] She has combined data science with marketing to grow the business. Stitch Fix is an online personal styling service in the United States. The items, tailored to each person's style, are delivered by mail and include a pre-paid envelope for returns. Stitch Fix shares fell more than 5% Tuesday afternoon after the company announced that founder Katrina Lake would step down as CEO. [28], On April 13, 2021, Lake announced that she would step down as CEO of Stitch Fix. We’re far from the prototypical Silicon Valley start-up. All Rights Reserved. The personalized styling service said that founder and CEO Katrina Lake would be stepping down from the chief executive position on Aug. 1, transitioning … Incoming Stitch Fix CEO Elizabeth Spaulding told CNBC on Thursday the company is confident in the timing of its executive shakeup, explaining that … Stitch Fix founder and CEO Katrina Lake is stepping down Fast Company - By Zlati Meyer • 46m The founder of the online personal styling service is stepping down as CEO, effective August 1, the company announced today. Its market value is $5.26 billion. [31] Lake has two sons. (RTTNews) - Stitch Fix, Inc. (SFIX) said on Tuesday that founder and CEO Katrina Lake will move on to the role of Executive Chairperson of the Board, effective August 1. Stitch Fix was established in 2011 in San Francisco and went public in 2017. The company has expanded beyond its personal styling and subscription-based model to drive sales, too. ", "Stitch Fix Founder Katrina Lake gives the C-Suite a Makeover", "Stitch Fix founder Katrina Lake built one of the few successful e-commerce subscription services", "Stitch Fix CEO Katrina Lake Wanted to Work at the 'Apparel Retailer of the Future,' So She Founded It", "Katrina Lake of Stitch Fix on Building Diverse Teams", "Katrina Lake - Harvard Business School Digital Initiative", "How I Get It Done: Stitch Fix CEO Katrina Lake", "Stitch Fix CEO Katrina Lake on how she keeps her 'shopping in a box' a formidable business", "Katrina Lake is One of the 500 People Shaping the Global Fashion Industry in 2017", "Meet Katrina Lake, one of Fast Company's Most Creative People", "Women in tech see today's Stitch Fix IPO as a milestone", "Stitch Fix shares retreat after IPO pop, close at $15.15", "Disruptor of the Year: Katrina Lake, Stitch Fix", "How Stitch Fix CEO Katrina Lake Nails Working-Mom Style", "Stitch Fix Founder & CEO Katrina Lake Joins the Sharks on 'Shark Tank' (PHOTOS)", "Young Influencers: 4 YPO Members Named to 'Fortune's' 40 Under 40", "Stitch Fix Founder Katina Lake to Step Down as CEO", "How Stitch Fix's CEO Katrina Lake Built a $2 Billion Company", How I Built This - Stitch Fix: Katrina Lake, https://en.wikipedia.org/w/index.php?title=Katrina_Lake&oldid=1017685374, American businesspeople of Japanese descent, Lowell High School (San Francisco) alumni, All Wikipedia articles needing clarification, Wikipedia articles needing clarification from May 2020, Creative Commons Attribution-ShareAlike License, This page was last edited on 14 April 2021, at 03:23. 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