- Marjorie van Elven |
Clothing service Stitch Fix has come first on a list of “250 Brands to Watch” released by IAB, the national trade association comprising more than 650 media and advertising companies. Published biannually, the list aims to reunite fast-growing consumer brands redefining the relationship between brands and customers.
”Collectively, the IAB 250 are models of the best practices and trends that are overturning and revolutionizing consumer markets in the US. They are setting the competitive standards by which the world’s largest incumbent brands are beginning to base their strategies and investments”, said IAB’s CEO, Randall Rothenberg, in a statement.
Stitch Fix won in the fashion category, which includes 91 brands. The company led by Katrina Lake is followed by Outdoor Voices, Huckberry, Taft Clothing, Dolls Kill, Third Love, Adore Me, Untuckit, Rent the Runway and Paul Evans. Stance, Everlane, Knot Standard, The RealReal, Wantable and Me Undies have also made the list.
“Nearly one third of the brands listed (...) are built on subscription models, demonstrating that a guaranteed, steady flow of revenue is possible across a range of sectors and products”, added Rothenberg. Stitch Fix is a service that sends boxes with apparel, footwear and accessories to clients, based on an initial questionnaire, allowing them to only buy the items they want and send back the ones they do not want. The items in consequent boxes are based on both the questionnaire and data analysis about the items the client chooses to keep and send back. While a subscription is not required, clients can choose to receive a "fix" regularly.
Published since 2010, IAB’s 250 Brands to Watch ranks companies based on several criteria such as economic efficiency (revenue, employees), financial confidence (funding, partner, max valuation) and social metrics.
Photo: courtesy of Stitch Fix