Combine a few profitable years with the recruitment of a new CFO, and rumors will start to churn.
In direct to consumer news, online personal shopper startup Stitch Fix has announced the hiring of its new chief financial officer (CFO), Paul Yee.
Prior to joining Stitch Fix, Paul Yee served as CFO for People Against Dirty, the parent company of household product brand Method. Prior to his work at Method, Yee also held executive roles at Peet’s Coffee and apparel companies the Gap and Old Navy.
Many believe this hire is a strategic decision to help guide Stitch Fix toward an initial public offering (IPO). While the company has been profitable for years, its recorded revenue came in at $730 million in its last fiscal year with $42 million raised in funding.
At this time, Stitch Fix has not commented on the possibility of its future IPO filing details.