Stitch Fix, the ever-growing San Francisco-based online personalized shopping service, has added two key hires. Paul Yee will join the company as chief financial officer and Maria Dueñas Jacobs will join as the director of brand development.
Yee’s former position was global chief financial officer at People Against Dirty, the company that owns Method cleaning products. Many believe that Yee will lead the company to an IPO in the near future.
Jacobs joins the styling service from Elle magazine, where she was accessories director. In her new position, Dueñas Jacobs will focus on furthering brand development, fashion media relations and special projects at the company.
Run by its founder and CEO Katrina Lake, upon first access to Stitch Fix’s website, customers are asked to fill out a style profile. Stylists then put together a box of five items of clothing and accessories that compliment the customer’s style profile and ship the box to them. Each box includes a $20 styling fee that shoppers can use towards any purchase they make.
In only five years of operation, Stitch Fix has reached profitability with recorded annual revenues of $730 million in its last fiscal year.