Core Tip: Katrina Lake, the company's founder and chief executive, said the company would grow 20 to 25 percent for the full year, to $2.05 billion to $2.14 billion, and would probably beat estimates for $2.01 billion with a high probability.
Stitch Fix, a U.S. e-commerce apparel subscription provider, saw its shares rocket recently. In normal trading Wednesday, Stitch Fix added 0.76 percent to close at $35.83.It rose 33.30 percent to $47.76 in after-hours trading.Stitch Fix's shares have risen 39.63 percent so far this year.
Stitch Fix then reported its latest first-quarter results, which ended Oct. 31, with revenue up 10 percent from a year earlier to $490.4 million and profit up 10 percent from a year earlier, well above market expectations.Stitch Fix's shares surged another 40 percent On Thursday, after rising more than 53 percent intraday at one point.
Stitch Fix is an e-commerce company with a very unique way of buying apparel.A traditional way to consumers to buy clothes, usually divided into several categories: guide consumers to find and select and recommend a cooperate, brand star celebrity endorsement advertising effects, etc., and now the Internet age has some new forms, web celebrity host live with cargo, KOL community marketing, etc., these has become the decided to one of the determinants of consumers to buy clothes.Stitch Fix, on the other hand, uses a far more high-tech and personalized approach to guiding consumers to buy clothes.
The platform uses algorithms to recommend suitable clothes for users.First of all, consumers only need to fill in a series of personal information, such as personal clothing size, style preference, preferred price range, etc.Each user can then get a stylist to help them pick out clothes.Stitch Fix will mail five pieces of clothing according to users' preferences. Users can keep the clothes they like after trying them on, and the ones they don't like can be returned.The most important thing is that users can score and evaluate the satisfaction of each garment, while Stitch Fix uses the algorithm to collect and analyze relevant data and make more accurate recommendations for users again.
Stitch Fix, an e-commerce company that uses algorithms to recommend clothes: Stock up 40%!
In a word, this e-commerce not only sells clothes, it can also provide you with network version of advanced customized modeling wear and match service, and is the use of algorithms to achieve very personalized clothing wear and match service.Stitch Fix's actual commercial results show people what "sometimes machines know you better than you know yourself."
Katrina Lake, the company's founder and chief executive, said the company would grow 20 to 25 percent for the full year, to $2.05 billion to $2.14 billion, with a high probability of topping estimates of $2.01 billion.
With such brilliant performance under the epidemic, Stitch Fix's stock price soared frequently. There is no need to doubt the success of Stitch Fix, let alone the consumers' satisfaction with the personalized clothing recommendation achieved by the algorithm.Stitch Fix's personalized clothing recommendations will save time for the platform's mostly female users, who are busy taking care of their babies, working and meeting their own grooming needs, according to CHIEF Executive Katrina Lake.
Indeed, many men who have had girlfriends complain that women spend too much time shopping and dressing up.Stitch Fix's service is the savior for many women who love to wear and make up and often struggle with dressing and making up.I hope China can also have such an e-commerce clothing platform to save the tangled and busy Chinese women and exquisite men!
