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No Limits with Rebecca Jarvis

#144: Katrina Lake: CEO and Founder, Stitch Fix

No Limits with Rebecca Jarvis

ABC News

Business, Careers

4.7703 Ratings

🗓️ 20 December 2019

⏱️ 44 minutes

🧾️ Download transcript

Summary

Katrina Lake is the youngest woman to ever take a company public at just 34-years-old. In less than 10 years, she’s grown her company, Stitch Fix, from an idea to a company that generates more than one and a half billion dollars in sales, serving over 3 million clients. On this episode, Katrina discusses how personalization is key to her business model, her vision for the future of retail, and how her company in some ways serves as the antithesis to Amazon. Congratulations to our No Limits Entrepreneurs of the Week: Sarah Bayot, Founder and Creator of Kichecko Goods Find out more: www.kichekogoods.com Want to be a featured NLEOTW? Know someone who should? Send your nominations to [email protected] Don’t forget to subscribe and leave us a review! It’s easy! Click here: http://bit.ly/2ks4f90 ABOUT REBECCA JARVIS: Rebecca Jarvis is an Emmy Award-winning journalist and the Chief Biz, Tech and Econ correspondent for ABC News. She is also the host of “The Dropout” podcast. Follow Rebecca Jarvis: www.Instagram.com/RebeccaJarvis www.Twitter.com/RebeccaJarvis www.Facebook.com/RebeccaJarvis https://www.linkedin.com/in/rebecca-jarvis-217ba052/ Snapchat: RebeccaJarvis “No Limits with Rebecca Jarvis” is produced by Taylor Dunn and edited by Brittany Martinez Learn more about your ad choices. Visit

Transcript

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0:00.0

I kind of like being the underdog and I like being underestimated.

0:04.2

I think it's a lot easier to be underestimated and feel like you have fight and grit and you can prove yourself.

0:13.4

Hi everyone. Welcome to No Limits. I'm your host, Rebecca Jarvis. If you are a frequent listener here, thank you. We appreciate your loyalty.

0:23.2

And if you're new, welcome. Each week, we work here to demystify success. I know it's a weird

0:30.5

word. Doesn't mean everything to everyone. But the idea is happiness in the work that you do in your life.

0:37.9

And we go about finding that by speaking to the world's most influential women across all different industries.

0:45.1

And the conversations go beyond the resume.

0:48.0

From decision making to tradeoffs to those pivotal moments that shape your careers in your lives.

0:55.4

So whether you're looking for advice or you just want to hear a good story, you've come to the right place.

1:02.2

Okay, listeners, we have a real treat today. With us in the hot seat is Katrina Lake. She's the

1:08.2

founder and CEO of Stitch Fix. She's the youngest woman ever to take a company

1:12.9

public. You were 34 years old when Stitch Fix went public. It's listed on the NASDAQ that was in 2017.

1:20.7

And in less than 10 years, she's grown Stitch Fix from an idea to a company that generates more than

1:26.0

$1.5 billion in sales and serves more than

1:30.4

3 million clients. You've been named one of Forbes's richest self-made women, and you're also a

1:36.0

mother of two. You're on the board of Glacier and Grubhub, and you're a guest on the season 11 of

1:41.3

Shark Tank. Welcome, Katrina, to No Limits. Thank you for having me. I'm happy to be here.

1:45.7

I love that you're here. Also, by the way, there is a Minnesota connection here. I can't

1:51.2

not mention the Minnesota connection. Katrina went to high school in Minneapolis. That's right. I did.

1:57.6

Go to the state fair every year still. What's your favorite thing to eat on a stick?

2:02.4

The Pronto Pup is really good. I really like the pickle on a stick. Controversial, but I like that one.

2:08.2

Why is it controversial? I don't know. Some people are like, why would you go all the way to the State Fair to have a pickle?

...

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