01 Dec 2014
Dressing by Number
Katrina Lake (MBA 2011), Founder and CEO, Stitch FixRe: Grace Choi (MBA 2013)by Christine LejeuneTopics:
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Although it isn’t available yet, Mink, a 3D home printer that produces custom makeup, has already made serial inventor Grace Choi (MBA 2013) a cosmetics celebrity.
Katrina Lake knew as far back as 2010 that there was something big in the idea of expertly picked goodies delivered to your door. (True story: That “aha” moment came courtesy of a delivery of farmer-endorsed seasonal veggies.) Now she’s translated that idea into Stitch Fix, the Pandora of fashion. This rapidly growing online styling and shopping service mails clients “fixes” of recommended clothing based on the data they provide; clients purchase only the items they love. The more information a customer gives Stitch Fix—the initial “style profile,” shared Pinterest boards, feedback on what works and what doesn’t in each delivery—the more precise the profile of the individual client and the “client in aggregate” becomes. And better data means better-dressed shoppers, says Lake, noting that 70 percent of Stitch Fix’s clients return for a second “fix” within 90 days.
Next: Karen Moon (MBA 2008) — Making Big Data Fashionable »
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To learn more about these seven HBS Alumni trendsetters, click on their photos below:
Class of MBA 2011, Section I