Stitch Fix, a San Francisco, Calif.-based online fashion retailer, raised $12m in Series B funding.
The round was led by Benchmark. In conjunction witt the funding, Bill Gurley, general partner at Benchmark, Marka Hansen, former president of North America for Gap, Inc. and Banana Republic, and John Fleming, former EVP and chief merchandising officer of Walmart and CEO of Walmart.com, will join Stitch Fix’ board.
The company intends to use the funds to scale operations.
Founded in 2011 by CEO Katrina Lake, Stitch Fix is an online personal shopping platform, which offers a suite of proprietary tools and style-matching technology to identify the clothes and styles that best fit each client’s budget and lifestyle. Clients receive the company’s deliveries of five garments to their homes, keep what they like and return what they don’t.
In addition to the funding, Stitch Fix today announced three hires:
– Lisa Bougie as chief merchandising officer
– Meredith Dunn as vice president of styling, and
– Jennifer Olsen as chief marketing officer
FinSMEs
17/10/2013