Stitch Fix Names New CFO
Stitch Fix, the online subscription clothing service based in San Francisco, has a new chief financial officer.
Paul Yee, most recently global chief financial officer of People Against Dirty, the makers of ecological cleaning and personal-care products Method and Ecover, takes over the CFO office with a number of duties. Yee will lead all financial initiatives, including financial planning, accounting, tax, treasury and real estate.
For nearly 20 years, Yee worked to build several consumer brands such as Gap, Old Navy and Peet’s Coffee.
“Paul’s deep financial experience with strong consumer brands will be invaluable as we continue to personalize the shopping experience for men and women,” said Katrina Lake, founder and chief executive of Stitch Fix. “His passion for art and science aligns with our brand philosophy, and his leadership will be a tremendous addition to Stitch Fix’s executive team and our growth as a company.”
Stitch Fix was founded in 2011 and continues to grow, with revenues in 2016 at around $730 million. The company uses hundreds of stylists and algorithms to select items for members, who receive a package—or fix—of five clothing and accessories pieces determined by a style profile they’ve filled out. Recipients can accept the clothing or send it back with no shipping fees. A $20 style fee, however, is charged but can be applied to the final clothing bill.