The e-commerce styling service confirms closure of its UK operations by October, following a decrease in sales and organizational changes
Stitch Fix, the personalized styling and e-commerce platform, has confirmed its decision to exit the UK market, completing the withdrawal by the end of October. The announcement follows the company’s earlier statement in June, where it considered ceasing operations in the UK due to a challenging macroeconomic environment and rising costs.
In a public Instagram post, the company stated, “We’re sorry to say that our Stitch Fix UK journey is coming to an end.” The post also acknowledged the company’s four-year presence in the UK, noting that it had “helped thousands of people in the UK discover their personal style.” Additionally, Stitch Fix is offering a “thank you sale,” featuring discounts of up to 70% on purchases.
Financial disclosures indicate that Stitch Fix had aimed to control costs and improve efficiency but ultimately chose to concentrate on its US operations. The company reported that the UK segment would contribute approximately $50 million in annual revenue for fiscal 2023 but was projected to incur a $15 million EBITDA loss.
Stitch Fix initiated its UK services in 2019, a venture challenged by the subsequent outbreak of the COVID-19 pandemic, impacting profitability and revenue. The organization has also experienced recent changes in its executive leadership, including a transition from founder Katrina Lake to former Macy’s executive Matt Baer in June. Other key leadership positions have also seen departures.