Sources: Stitch Fix Files for IPO
A number of sources have reported that Stitch Fix, the data-driven online personal styling company, has quietly filed an initial public offering. Launched in 2011, Stitch Fix plays in a number of increasingly hot trends: e-commerce meets fashion meets personalization meets try-before-you-buy, with competitors such as Le Tote, plus-size specialist Dia&Co. and now Amazon Prime Wardrobe all vying for consumers' fashion dollars.
The company's hiring of CFO Paul Yee in June perhaps was a signal of its intentions to get its financial house and records in order before going public, and Fortune reported in March that Stitch Fix was "considering" an IPO. In the past year, Stitch Fix has expanded from an exclusive focus on women's straight sizes to include men's (launched this past fall) and women's plus sizes (launched in spring).
The e-commerce company notched $730 million in revenue for the fiscal year ended July 2016.