What does it take to get a top executive from one of the beauty industry’s biggest retailers? A quality business plan, which is exactly the case for Stitch Fix, a personal stylist startup that just managed to snag Sephora’s CMO and Chief Digital Officer, Julie Bornstein as their COO. Stitch Fix has only been around for four years, so this is a great sign for the company’s future.
The site, founded by CEO Katrina Lake, 32, is an online retailer that combines algorithms and real stylists to select five hand-picked items that will be mailed to their customer's doors for a flat rate of $20. Customers can then decide to keep as many or as few items as they like, and will be charged accordingly (the $20 is subtracted from the total if you purchase an item). The site quickly became popular among women everywhere, from moms to busy professionals.
It is predicted that Stitch Fix will have over $200 million in revenue this year, and Bornstein’s digital and marketing expertise will only help the COO take the company to the next level. Bornstein will also work to improve the customer and stylist experience while overseeing strategy. Stitch Fix has also hired Michelle Weaver, formerly Gap’s head of investor relations, as its new Chief Financial Officer. Considering Stitch Fix’s young age and highly sought after leadership team, it’s only a matter of time before Stitch Fix becomes a household name.