Wednesday 9 October 2019

Could Stitch Fix Stock be Headed for More Growth?

Stitch Fix is an online personal styling service in the United States. Founded in 2011, Stitch Fix went public in 2017 on NASDAQ. Immediately after the IPO, Stitch Fix was valued at $1.6 billion. As of February 2018, the company was valued at $2 billion.

The company began by catering only to women, but it has expanded to men's clothing, plus sizes, maternity wear, and kids. As of May 2018, they had 5,800 employees including 3,000 stylists and 75 data scientists.

The company offers consumers access to their own personal stylists without having to go outside anywhere.

For a monthly fee, clients get curated pieces of clothing and accessories shipped to their door. They can pay for what they keep and return the rest to the company. Consumers like this type of service.

Stitch Fix ended the fiscal fourth quarter earlier this month with 3.2 million customers, up 18% compared to a year ago.

Stitch Fix has expanded in the e-commerce market into new clothing categories and recently launched a new service in which customers can purchase items on the website in addition to getting their scheduled box of clothing. The company is thinking of new ways to create shopping for customers. It is highly likely that this stock is heading for growth.

1 comment:

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