Knowledge Project

Podcast Notes Key Takeaways

•  The main problem in apparel: finding clothes that fit customers and that customers love
  • “Nobody was solving that core problem of how do I actually identify the clothes on this planet, out of the millions of things out there, that you specifically are going to love” – Katrina Lake
•  Price and speed of delivery are important in the apparel industry, but at the end of the day people want clothes that they like:
  • “Yes, price, speed, and delivery are important in apparel but actually more important is it right for you? Does it fit?” – Katrina Lake
• Stitch Fix is solving this problem by using data science to offer clothing recommendations that people will like
  • Stitch Fix wants to become your personalized styler:
    • “What we’re really trying to do is get to this personalized storefront for every person” – Katrina Lake
• Stitch Fix was cash-flow positive in 2014 and went from $0 to $1 billion in 5 years, and Katrina still had trouble raising money from VCs
  • “I was forced to be capital efficient. I had to make the most of our balance sheet in order to survive.” – Katrina Lake
• Two of Katrina’s superpowers as a founder was her ability to recruit amazing people to come work at Stitch Fix and her authentic leadership style:
  • “Absolutely recruiting, I never, ever, ever would have been able to do all of the things that we did without having the incredible people on the team” – Katrina Lake
  • “The only thing that I had was this ability to be authentic and connect with people and to bring people along”

Read the full notes @ podcastnotes.org

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