Katrina Lake – The Next Wave of E-Commerce - [Invest Like the Best, EP.187]

<p>My guest today is Katrina Lake, the co-founder and CEO of Stitch Fix. Stitch Fix is a multi-billion-dollar public company which has brought an entirely new model to retail apparel by combining data science, technology, and personal stylists to create a unique shopping experience tailored to the individual consumer. I first met Katrina through past guest Bill Gurley and have been excited to host her since that first meeting. In our conversation, Katrina and I discuss all aspects of Stich Fix—its history, business model, innovations, and its future. Please enjoy this great and thought-provoking conversation with Katrina Lake.</p> <p> </p> <p>This week’s episode is sponsored by Bottomless. Bottomless is a smart coffee subscription which automatically re-orders coffee for you based on your consumption habits. </p> <p>Bottomless is offering one month and your second bag of coffee for free at <a href="http://bottomless.com/patrick" target= "_blank" rel="noopener">bottomless.com/patrick</a>.</p> <p> </p> <p>For more episodes go to <a href= "http://investorfieldguide.com/podcast">InvestorFieldGuide.com/podcast</a>.</p> <p>Sign up for the book club and new email newsletter called “Inside the Episode” at <a href= "http://investorfieldguide.com/bookclub">InvestorFieldGuide.com/bookclub</a>.</p> <p>Follow Patrick on Twitter at <a href= "http://twitter.com/patrick_oshag">@patrick_oshag</a></p> <p><strong> </strong></p> <p><strong>Show Notes</strong></p> <p>(2:19) – (First question) – Where E-Commerce stands and what the future might hold</p> <p>(4:37) – Why personalization makes Stitch Fix stand out from the others</p> <p>(9:34) – Why data science is foundational to their business</p> <p>(12:15) – What makes for a good augmented human and hiring stylists</p> <p>(14:34) – Stakeholder value and creating a great partnership with suppliers</p> <p>(18:10) – Their emphasis on stakeholder focus and social justice</p> <p>(19:28) – The capital efficiency of their business in the early days</p> <p>(24:46) – Her superpower of recruit