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Entrepreneurial Thought Leaders (ETL)

Katrina Lake (Stitch Fix) - Making Entrepreneurship More Inclusive

Entrepreneurial Thought Leaders (ETL)

Stanford eCorner

Business, Life Lessons, Creativity, Startups, Strategy, Thought Leadership, Education, Stanford University, Leadership, Challenges, Journey, Culture, Etl, Innovation, Founders, Stanford, Entrepreneurship

4.5740 Ratings

🗓️ 3 March 2021

⏱️ 50 minutes

🧾️ Download transcript

Summary

While attending Harvard Business School, Katrina Lake saw an opportunity to combine data science with human stylists to reinvent the retail space. Lake founded Stitch Fix in 2011 to help women everywhere discover and explore their style through a truly client-focused shopping experience. In this conversation with Stanford lecturer Ravi Belani, Lake discusses experiencing and fighting bias, achieving massive and unexpected financial success, and leading with authenticity.

Transcript

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0:00.0

Who you are defines how you build.

0:05.0

This is the entrepreneurial thought leader series.

0:09.0

Brought to you by Stanford E. Corner.

0:13.0

We are incredibly honored and excited today to have Katrina Lake join us for this session of ETL. Katrina is the CEO of Stitchfix and a Stanford alum.

0:25.6

Katrina is the daughter of a mother who was a Japanese immigrant who taught in public schools in the United States and a father who was an American doctor.

0:33.6

She went to Stanford and majored in economics and floored with being pre-med, but ultimately went down the business path and went into consulting after Stanford also worked in marketing at Polyvor and then went and got her MBA at Harvard Business School.

0:48.2

At the end of her MBA, she launched Stitch Fix, which is a fashion subscription service to help women everywhere discover and

0:55.3

explore their style through a truly client-focused shopping experience. Six years later,

1:01.4

in 2017, she took Stitch Fix public, becoming the youngest woman at the time to ever take a company

1:09.5

public at the age of 34.

1:12.4

Stitch Fix is now a $7.5 billion publicly traded company.

1:16.8

And Forbes magazine has named Katrina one of America's richest self-made women.

1:23.0

We are honored to have Katrina here.

1:25.5

So everybody, please welcome Katrina Lake to ETL.

1:29.7

Katrina, welcome.

1:31.9

Lots of love for you, virtual love on the YouTube and Stanford Community Streams.

1:37.4

I would love to start off by understanding your path into entrepreneurship.

1:42.7

Because if you look on paper at your background,

1:45.9

it doesn't appear that there are several people or models in your life that you could have

1:51.8

self-reflected on that would have assured you that the path to entrepreneurship was one that you

1:56.6

were destined for. And yet you've become sort of the poster child of becoming a self-made woman

2:01.8

in the United States. Your, you know, your mom was a public school teacher. Your dad was a doctor.

...

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