The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Stitch Fix, an online personal styling service, appointed Matt Baer as its new chief executive officer. Founder and interim CEO Katrina Lake will stay on as executive chairperson of the board.
This appointment comes after the brand cut 20 percent of its salaried employees and its previous CEO Elizabeth Spaulding stepped down at the beginning of the year. In its most recent quarter ending in April, the company reported a 20 percent drop in year-on-year revenue and an 11 percent drop in active users.
Before stepping into this role, Baer held senior positions at Macy’s and Walmart.
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Stitch Fix to Explore Exiting UK Market in 2024
Online personalised styling service firm Stitch Fix said on Tuesday it would explore exiting the UK market in its fiscal year 2024, blaming a weakening macro environment and increasing costs.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.
As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.
A profitable, multi-trillion dollar fashion industry populated with brands that generate minimal economic and environmental waste is within our reach, argues Lawrence Lenihan.
RFID technology has made self-checkout far more efficient than traditional scanning kiosks at retailers like Zara and Uniqlo, but the industry at large hesitates to fully embrace the innovation over concerns of theft and customer engagement.