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April 14, 2021

Stitch Fix founder Katrina Lake steps down as CEO

Stitch Fix has named its president Elizabeth Spaulding its new CEO to succeed Katrina Lake.

By Hannah Abdulla

Stitch Fix has named its president Elizabeth Spaulding its new CEO to succeed Katrina Lake.

Lake will transition to executive chairperson and will remain an employee with a focus on Stitch Fix’s social impact efforts, in particular the intersection between sustainability and technology in apparel retail.

Lake founded Stitch Fix in 2011 and took the company public in 2017.

“In founding Stitch Fix, I was inspired by a very human problem, to help people look and feel their best by finding clothes they love. Ten years into this journey, I’m even more inspired by this simple mission, proud of the way we’ve delivered against it, and incredibly optimistic about our future,” Lake said in an email shared with the company yesterday (13 April).

“The impact Elizabeth has already had, combined with the compelling future vision she’s mapped out and is leading us toward, make this the right time for a leadership transition that will usher in the next generation for Stitch Fix, for our business, our people and our clients.”

In her current role of president, Spaulding is focused on driving the next phase of the company’s growth, including the expansion of the next generation of consumer shopping experiences, inventory management innovations and international expansion efforts.

Spaulding said: “The opportunity that we have ahead of us at Stitch Fix is extraordinary, and grounded in Katrina’s vision and last ten years of building personalisation at scale. We are creating experiences that will change the way people shop for generations to come. Given the seismic shift of apparel moving online, Stitch Fix is incredibly well-positioned to become one of the most innovative and most transformative companies in the world.”

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