Speaking at the Code Conference today, Stitch Fix CEO Katarina Lake did not express much concern over Amazon and its entrance into fashion with Prime Wardrobe. Lake says that while she does think about Amazon, that Amazon offers a “fundamentally different” value proposition.
With Amazon, Lake said, the value proposition is about having a “sea of choice.” With Stitch Fix, “in a lot of ways ours is almost the opposite,” she said.
Stitch Fix is an e-commerce company that aims to figure out your personal style and then send you a handful of items the company thinks you’ll like. As a side note, this product has worked horribly for me but quite well for some other people.
Stitch Fix went public last year and part of being public, Lake said, is having fiduciary duty to do what is best for the company and its shareholders. With that in mind, Lake said, “I can’t say never” on selling to Amazon, “but I think this is a company that has a lot of value in and of itself.”
To date, Stitch Fix has not “had any serious discussions around combining companies” with Amazon.
“Right now, we feel really confident on the path that we’re on,” Lake said.