Online personal styling service StitchFix has announced that its founder Katrina Lake will step down as CEO.
Lake will become Chairman of the Board and will continue to be an employee focused on addressing the brand’s social impact, especially at the crossroads of sustainability and technology in apparel retail.
She will be taken over by Elizabeth Spalding, who will take office on August 1, 2021.
As current president, Spaulding is focused on advancing the next stages of company growth, including expanding the next-generation consumer shopping experience, innovating inventory management, and working to expand internationally.
Prior to joining Stitch Fix, Spaulding worked for Bain & Company for over 20 years, holding several senior positions, including Partners, Global Head, and Founder of Digital Practices.
She also attended the board of directors.
“When I founded StitchFix, I was inspired by very human issues and helped people find the clothes they liked so they could look and feel the best. Ten years after this trip, I We are even more inspired by this simple mission, proud of the methods we have provided for it, and incredibly optimistic about our future, “says Lake.
“By combining the impact Elizabeth already had with a compelling vision of the future she plans and guides us, this is the next generation of Stitch Fix, our business, ours. People, and our customers. “
Spalding added: “The opportunities in front of us at Stitchfix are extraordinary and are based on Katrina’s vision and the building of large-scale personalization over the last decade. We see how people shop for the next generation. It creates an experience that changes the world. “
Lake established an online service in 2011 and opened the company in 2017.
Katrina Lake, Founder of Stitch Fix, Resigns as CEO-Latest Retail Technology News from All Over the World
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