- Prachi Singh |
An online personal styling service, Stitch Fix, Inc. has reported an increase of 588,000 in its active clients to 2.5 million, a 31 percent year-over-year growth. The company’s net revenue during the quarter rose to 295.9 million dollars, an increase of 24 percent over the same quarter last year. The company also announced that Kirsten Lynch, the chief marketing officer and executive vice president at Vail Resorts, Inc, will be joining the company's board of directors, effective March 14, 2018.
“We’re pleased to share strong results for our second quarter.,” said Stitch Fix founder and CEO, Katrina Lake in a press release, adding, “This quarter also marked the fourth consecutive quarter that we grew net revenue in the range of 25 percent year-over-year. In addition to strong momentum across our men’s and women’s categories, we’re excited about the potential of Extras, a new capability that allows us to serve more of our client’s wardrobe, while increasing incremental revenue.”
Kirsten Lynch to join Stitch Fix board of directors
Meanwhile, the company also said that Kirsten Lynch will be joining the company's board of directors, effective March 14, 2018. Lynch is the chief marketing officer and executive vice president at Vail Resorts, Inc., where she leads all marketing, sales and communications efforts for the global mountain resort company, including driving revenue for the company's lines of businesses.
"Kirsten is an innovative business leader who excels at creating brands and experiences that customers love, and that drive business performance. Kirsten's insights will be extremely valuable to Stitch Fix as we grow our business through unique and personalized client experiences, and we're thrilled to have her join our board of directors," added Lake.
The company added that she brings nearly three decades of strategic marketing experience as an executive at strong, global consumer brands, including PepsiCo and Kraft Foods. Lynch will be the sixth member of Stitch Fix's Board of Directors, which includes: Steve Anderson, founder of Baseline Ventures; Bill Gurley, general partner of Benchmark Capital; Marka Hansen, former president of Gap North America and Banana Republic; Sharon McCollam, former CFO of Best Buy Co. Inc., and Stitch Fix founder and CEO, Katrina Lake.
Picture:Facebook/Sttch Fix Men