Questions about stitch Fix
What were the sources of inspiration that Katrina Lake drew upon from her personal experience? (10 points)
How did she combine these elements to create Stitch Fix? (10 points)
Create a strategy canvas comparing Stitch Fix with brick and mortar retailers and with on-line retailers. (20 Points)
Using the ERRC framework, describe Stitch Fix’s blue ocean strategy. (20 Points)
Describe how analytics enable Stitch Fix’s strategy. Has Stitch Fix created any data and analytics assets that create sustainable competitive advantage? (20 Points)
Add Amazon to the strategy canvas. What elements of Stitch Fix are most vulnerable to Amazon, and which are less vulnerable? (20 Points)
Sample Solution
Questions about stitch Fix
Katrina Lake, 34, is the founder and chief executive of Stitch Fix, a San Francisco clothes shopping start-up that brought in $730 million in revenue in its 2016 fiscal year. Stitch Fix is regarded as one of the few major success stories in the subscript in shopping world. Customers fill out a detailed profile of their size, style and taste and receive a box a box of five pieces of clothing, shoes and jewelry monthly, bimonthly or quarterly. Unlike many start-up founders who describe having an entrepreneurial streak from an early age, Lake had always been risk-averse and attended Stanford with the intention of becoming a doctor. She tackled the pre-med curriculum but ended up majoring in economics because she was fascinated by the way data and statistics could be used. Creativity was a big part of her household. Lake collected SurveyMonkey data from her clients to get a sense of their style. She would use the information to hand select outfits and send them to her customers.
