The Decline of Stitch Fix

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The company has said the economic environment has caused the decline in subscribers.
Earlier this month, Lake returned as interim CEO and Stitch Fix laid off 20% of its salaried workers.
And it said it would shut down that big warehouse in Salt Lake City, just two years after it opened.
Today, Stitch Fix is worth less than half a billion dollars, well below its peak two years ago.
Even after its expansions, Laura says that data shows most of Stitch Fix's customers are the kind the company started with.
Today, data I've sourced shows that even years later, with other categories, including children's kids, over three quarters of the business is still women's.
So what does this say about the idea that startups should be constantly disrupting and innovative and growing?

Over the last year, fashion company Stitch Fix has lost 95% of its value as the company's attempts to expand beyond subscriptions floundered. WSJ columnist Laura Forman says the decline of Stitch Fix holds broader lessons for tech companies.

Further Reading:

- Stitch Fix’s Unraveling Should Sow Broader Tech Doubts

Further Listening:

- Shein Took Over Fast Fashion. Then Came the Backlash.

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