CHATTER Stitch Fix, Inc. IPO (SFIX:NASDA) 10,000,000 shares @ $18.00 - $20.00 Underwriters: Goldman, Sachs & Co., JPMorgan, Barclays Capital, RBC Capital Markets, Piper Jaffray, Stifel Nicolaus, William Blair & Company Founded in 2011, Stich Fix combines the use of data science and personal stylists to deliver personalized shipments of apparel, shoes and accessories direct to clients? homes. After receiving a shipment, clients purchase the items they want to keep and return the other items, if any, at no additional charge. Founded in 2011, the company has experienced hyper growth and profitability. From 2014 to 2015 revenue grew 370%, from 2015 to 2016 they grew 113% and slowed to 34% for 2017. Net Income fell from $33.2M in 2016 to $-600k in 2017. The reduction in Net Income in 2017 can at least partially be attributed to increases in stock based compensation expenses. Despite slowing growth, early profitability and excellent margins should make for an easy sale.
Company Background
Stitch Fix, Inc. is an online personalized styling service company. The Company offers apparel, shoes and accessories across categories, brands, product types and price points. The Company serves its clients in the following categories: Women’s, Petite, Maternity, Men’s and Plus. The Company also offers a wide variety of product types, including denim, dresses, blouses, skirts, shoes, jewelry and handbags. The Company’s data science capabilities fuel business consist of rich and growing set of detailed client and merchandise data and proprietary algorithms. The Company uses data science throughout its business, including prediction of purchase behavior, forecast demand, optimize inventory and design new apparel.
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