Stitch Fix to expand internationally
Stitch Fix is taking its shopping experience global.
On Monday, the company, which describes itself as "an online personalized styling service," announced its plan to expand into the United Kingdom. U.K.-based customers will be able to use the service by the end of fiscal year 2019. Customers can sign up for the wait list on Stitch Fix’s website.
“We believe our ability to create a uniquely personalized shopping experience is something that will resonate with consumers and brands outside of the United States,” said Stitch Fix founder and CEO, Katrina Lake. “We can’t wait to show our first U.K. clients how effortless, convenient and fun Stitch Fix is."
In addition to expanding its breadth, the company continues to extend its merchandise offering in the United States. Besides featuring apparel-filled boxes for women and men, the company launched a new box for children in July. In September, the company also expanded its men’s offering with more merchandise and sizes. The company didn’t share which offerings will be available to U.K. customers.
The company revealed its global expansion plans when it reported its fourth quarter earnings. For the period ended July 28, the company’s revenue jumped 23% to $318.3 million, and the company earned $18.3 million. Stitch Fix ended the year with 2.7 million active customers, a 25% year-over-year increase.
Stitch Fix ended its first full year as a public company with revenue of $1.2 billion, a 26% increase from the year-ago period. It also had net income of $44.9 billion, and diluted earnings per share were 34 cents.
On Monday, the company, which describes itself as "an online personalized styling service," announced its plan to expand into the United Kingdom. U.K.-based customers will be able to use the service by the end of fiscal year 2019. Customers can sign up for the wait list on Stitch Fix’s website.
“We believe our ability to create a uniquely personalized shopping experience is something that will resonate with consumers and brands outside of the United States,” said Stitch Fix founder and CEO, Katrina Lake. “We can’t wait to show our first U.K. clients how effortless, convenient and fun Stitch Fix is."
In addition to expanding its breadth, the company continues to extend its merchandise offering in the United States. Besides featuring apparel-filled boxes for women and men, the company launched a new box for children in July. In September, the company also expanded its men’s offering with more merchandise and sizes. The company didn’t share which offerings will be available to U.K. customers.
The company revealed its global expansion plans when it reported its fourth quarter earnings. For the period ended July 28, the company’s revenue jumped 23% to $318.3 million, and the company earned $18.3 million. Stitch Fix ended the year with 2.7 million active customers, a 25% year-over-year increase.
Stitch Fix ended its first full year as a public company with revenue of $1.2 billion, a 26% increase from the year-ago period. It also had net income of $44.9 billion, and diluted earnings per share were 34 cents.