Stitch Fix plans 20% job cuts as CEO steps down
cnbc.com
cnbc.com
Then sometime that year, they laid off a ton of their stylists and I assume I was then assigned to someone (or some algorithm) that did not have as much time or care to put into recommendations. I started to get sent what was essentially repeats - the same articles of clothing I was sent a few months ago, but in a different color. After a few months of sending back over 80% of what I was sent, I cancelled my subscription.
The other is apparel just has too much competition. Each retailer used to have a look and style they were promoting. There was also noticeable difference between low cost clothes and higher ones. If one goes to a mall the differentiation between stores is less than it used to be. I don't have a way to quantify this but that is what it seems.
As for cost of garments, go to H&M and go to Nordstrom, is there a quality difference, yes but not that much.
Back to stichfix, once customer has a few boxes of clothes and the customer likes the clothes, they can go buy them and a ton of other places. And unlike trying to replicate meal kit companies offerings, there is no preparing of a meal, just clicking the buy button.
Hard business.
I think it’s a great idea for a company and can work very well, but I don’t think it has the capability for never-ending growth.
With women’s wear, I could definitely see a huge number of clients buying monthly-to-quarterly. For men’s wear, I can’t see many doing this on a consistent basis. Seems like most would be up for new clothes 1-2x/year, unless you’re looking to revamp your whole wardrobe. Even then after a year you’ve got a new wardrobe and wouldn’t need them again for a long while.
Looking at their website, the brands they tout are essentially mall staples too, nothing special. So the main value-add would be the stylist.
Most men would be better served hiring a stylist for a major sale weekend (post Christmas, Black Friday, Memorial Day) and having them take you to the mall to get all of those things at a steep discount.
I'm surprised more subscription services don't try to offer reduced frequency options. Lots of people like the idea of subscriptions but don't need yours every few weeks.