Stitch Fix debuts kid's range, shares surge
Stitch Fix officially launched its kid's offering on Tuesday, where shares of the online clothing subscription company jumped more than 9 percent.
The new kid's clothing service, which mimics Stitch Fix’s original personalised styling service model, includes 8-12 items for kids, available in sizes 2T-14, with average prices ranging from $10–$35 per item. Customers pay a $20 styling fee and can then choose to keep or return items.
As part of the launch of Stitch Fix Kids, the company is also introducing its own exclusive brand of children’s clothing, dubbed Rumi + Ryder. Other brands that will be offered as part of the service include Under Armour, Nike, TOMS, DL1961, Hanna Andersson, Threads 4 Thought, Joules, Sovereign Code, and more.
“At Stitch Fix, our goal has always been to help our clients discover products and styles they love,” said Katrina Lake, founder and CEO of Stitch Fix, in a news statement.
“Now, we want to inspire the same confidence in our littlest clients. Stitch Fix Kids is a fun and engaging way for kids to find clothes they love and feel their best in, while saving parents time.”
The new segment is the company’s latest offering. The company started out in womenswear and later expanded into men’s in 2016. Since then, it has also launched plus-sizes and contemporary looks, with intimates.
Last week, Stitch Fix reported quarterly revenue and profit that blew past Wall Street estimates. It said subscriptions surged 30 percent in the third quarter and that it now had 2.7 million active clients.
The company went public in November at $15 a share. It was founded in 2011 by CEO Katrina Lake.
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