Stitch Fix is set to test its might with an IPO.
The data-rich subscription company filed confidentially, a special provision allowed for startups, according to Tech Crunch.
The company, which has garnered many headlines for its deft use of data, is treading rocky ground, as illustrated by the Blue Apron IPO. In that case, the meal kit business has struggled to gather and sustain membership and their stock hasn’t been helped by Amazon’s entrance into the category.
The e-commerce giant has inserted itself into the apparel box market as well with the debut of Prime Wardrobe. Though it’s not a subscription model, the company’s interest in the space plus its bullish behavior where apparel is concerned in general could dim prospects for Stitch Fix.
Read more at Sourcing Journal.