stitch fix-

Post on 29-Jun-2015

106 Views

Category:

Business

1 Downloads

Preview:

Click to see full reader

DESCRIPTION

When Katrina Lake applied to Harvard's MBA program, she wrote her application essay about an entrepreneurial aspiration she had: to create a business that applied data and recommendation algorithms to the retail shopping experience. During her second year of business school in late 2010, Lake began testing that idea by having friends fill out style-preference surveys and picking out clothes for them based on their answers. This one-person, low-budget operation would go on to become Stitch Fix, the mail subscription service that combines high-tech analytics and personal stylists to send women clothes they'll love.

TRANSCRIPT

“TO CREATE A BUSINESS THAT APPLIED DATA AND RECOMMENDATION ALGORITHMS TO THE RETAIL SHOPPING EXPERIENCE.”

By April Joy B. Himongon

Click icon to add picture

Stitch Fix: When Data Analytics Meet Fashion

Stitch Fix is the marriage of the convenience of shopping online with the elements of brick-and-mortar shopping that people enjoy.

Stitch Fix has come a long way since the days when Lake was running around purchasing and returning clothes from retail stores and boutiques.

Traditional marketing hasn't been a part of its strategy

How does it work?

The way Stitch Fix works is actually quite simple.

-Women who sign up for the service are asked to fill out a style profile that includes their :

clothing sizes, favorite styles, fit preferences, price range, and some aspects of their personal

lifestyle.

1. Fill out your Style Profile

2. Pick the date you’d like to receive your Fix

3. Try everything on in the comfort of your home

4. Buy what you like and return the rest

5. Tell us what you think!

Click icon to add picture

"Investing in good people is unbelievably critical," she said. "No matter how amazing of an idea you have, you can't do everything yourself. You need a team early on that can grow at a pace that you need them to grow."

Stitch Fix: When Data Analytics Meet Fashion

QUESTION?

Click icon to add picture

Stitch Fix: When Data Analytics Meet Fashion

THANK YOU ^^,

top related