Stitch Fix, a subscription service that sends clothes and accessories to customers, carries more than 1,000 brands. Among them are Rebecca Minkoff, Cole Haan and Kate Spade.
Stitch Fix began diversifying production out of China before trade tensions spiked between the world's two largest economies, said Lake, who co-founded the fashion company in 2011. The company has been confident in mitigating tariffs because Stitch Fix has partners in other countries, is a partner of choice for vendors and the platform is a full-price channel that helps labels grow their brands, she said.
"Our perspective is that we'll see the brands take up ... some of that cost, and currency definitely helps them a little bit," she explained. "And then the algorithmic component of our business is also helpful, because there might be product categories where, you know, there might be less price elasticity than others if we're forced to make that choice."
U.S. and China trade officials will continue discussions next week. On Friday, White House economic advisor Larry Kudlow