×
47
Fashion Jobs
SHISEIDO
Drunk Elephant Account Manager - Arnotts Dublin (37.5 Hours)
Permanent · Dublin
TAPESTRY
Sales Associate i - ce ir Arnotts (Women) (37.5 Hours)
Permanent · Dublin
LEVI'S
Summer Stylist Temp
Fixed-term · Kildare
RITUALS
Store Manager - Dundrum (40 Hours)
Permanent · Dublin
RITUALS
Sales Advisor - Dundrum (8 Hours)
Permanent · Dublin
CLAUDIE PIERLOT IRLANDE
Sales Assistant - 16h - Permanent - Dublin m/f
Permanent · DUBLIN 2
CLAUDIE PIERLOT IRLANDE
Sales Assistant - 15h - Permanent- bt Dundrum m/f
Permanent · DUBLIN
CLAUDIE PIERLOT IRLANDE
Sales Assistant - 10h - Fixed-Term - bt Dundrum m/f
Fixed-term · DUBLIN
LULULEMON
Educator | Brown Thomas Grafton st Part-Time
Permanent · Dublin 2
BA&SH
New Opening - Staff Members - Dundrum Dublin
Permanent · DUBLIN
LULULEMON
Key Leader | Brown Thomas Grafton st
Permanent · Dublin
AMERICAN VINTAGE
Assistant Store Manager (M/W) New Opening
Permanent · KILDARE
RITUALS
Sales Advisor - Galway (24 Hours)
Permanent · Galway
BA&SH
Sales Assistant - Kildare Village - New Opening
Permanent · KILDARE
BA&SH
Store Manager - Kildare Village - New Opening
Permanent · KILDARE
AMERICAN VINTAGE
Store Manager (M/W) New Opening
Permanent · KILDARE
SHISEIDO
Nars Makeup Artist - Brown Thomas Dublin (15 Hours)
Permanent · Dublin
TK MAXX
10014-Associate
Permanent · Drogheda
LULULEMON
Store Manager | Brown Thomas Cork
Permanent · Cork
LULULEMON
Educator Part-Time | Dundrum
Permanent · Dublin
LULULEMON
Educator Full - Time | Dundrum
Permanent · Dublin
RITUALS
Supervisor - Dundrum (32 Hours)
Permanent · Dublin
Published
Nov 20, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Stitch Fix debuts IPO, hits $120m

Published
Nov 20, 2017

Styling service Stitch Fix debuted its initial public on Friday, ending with a lacklustre result by close of day, as analysts and industry experts expected more from the buzzy US firm's performance.


Stitch Fix


Under the Nasdaq ticker SFIX, the San Francisco-based company disappointed analysts from the get go when it priced its shares at $15 each in its IPO, below the $18 to $20 it had projected.

At the start of trade on Friday, SFIX share prices hit $18.53, up as much as 23.5 percent, well exceeding the company's initial public offering price of $15. However, by close of day on Friday, investors had cut back the stock's value to $15.15, an increase of just 1 per cent for the firm.

By close of trade, the styling service had sold 8 million shares, immediately raising $120 million. A figure the firm will be pleased with, considering it surpassed the $100 million it had pegged as a preliminary amount back in October when it announced the IPO plans. 

The IPO left the company with a market capitalisation of $1.46 billion. ​Before the IPO, Stitch Fix had raised only $42.5 million.

Similar to a subscription-box model, Stitch Fix offers a personalised styling service that allows customers to receive curated selection of five items, whereby they can choose to keep or return items and receive a reimbursement. The only cost is a $20 shipping fee.

The website uses recommendations based on a series of tech algorithms and the suggestions of a remote stylist, including the customer’s previous preferences; popular items with similar customer profiles; budget and size. The business model has been a winner amongst its time-poor, style-conscious demographic, recording 2.2 million active users with a repeat order rate of 86%.

Founded by entrepreneur Katrina Lake in 2011, Stitch Fix recorded annual sales of $977.1 million in the fiscal year ended July 29, up from $730 million in 2016, and from $73 million in 2014. However, company growth was down from 113% in 2015 to 34% over the last fiscal year, accompanied by a loss of $594,000.

Moving forward, Stitch Fix is still a fledgling in a fierce e-commerce market and also has to face off against Amazon’s recently launched Prime Wardrobe service, aimed at a clientele similar to that of the start-up company.
 

Copyright © 2022 FashionNetwork.com All rights reserved.