Stitch Fix's Katrina Lake Dishes Out Savvy Business Advice

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The founder and CEO of the personal styling service shares what she learned as she built her billion-dollar company.

Stitch Fix, founded in 2011 by Katrina Lake, has reinvented the retail space. In 2017, Lake became the youngest female CEO ever to take a company public, and since, the personalized fashion subscription box business has continued to soar. Before COVID-19 seized headlines and shuttered businesses, we chatted with the founder about raising funding, finding mentorship, and more.

the ones who don’t have a horse in the ring. Finding someone who has a bit less of a direct connection to your work and doesn’t have any vested interest in your development path is really important. Those people are going to be the ones who can help you have the right conversations with your manager.How do you navigate relationships when they blur the boundaries between work and personal life?My cofounder [Erin Flynn] and I parted ways really early in the business.

At the end of the day, venture capitalists are capitalists. If they see a path to making a lot of money, that is one lever to get them excited. It’s a space that I tried to spend more time on. Stitch Fix has been profitable since 2014. We have great economics now, and we can map to great economics in the future. So it’ll probably appeal to the capitalist element of venture capitalists. That was my strategy.

 

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