US-based online retailer of curated shopping, Stitch Fix, has announced the appointment of Matt Baer as chief executive officer and member of the board of directors. Bear will begin his new role on June 26th
Baer, formerly Macy’s chief customer and digital officer, is joined by founder, interim CEO and executive chairman Katrina Lake. She will work closely with him during the transition period.
On Thursday, Baer expressed his excitement at joining Stitch Fix and his admiration for the company Lake founded: “People are looking for a better way to look good and feel good. Stitch Fix is uniquely positioned to offer them that.”
“I look forward to working with the talented team at Stitch Fix and using my years of experience building and scaling retail businesses to achieve sustainable and profitable growth,” the CEO-elect said in a statement.
At Macy’s, Baer was responsible for the growth and long-term strategic planning of Macy’s and Bloomingdale’s digital businesses, as well as launching and scaling various initiatives such as third-party marketplace Macy’s Media Network.
Before joining the retail group, Baer was vice president of e-commerce at Walmart. There he led the transformation and scaling of the company’s digital business.
Stitch Fix continues with its “ambitious transformation plans”.
Baer’s appointment aligns with Stitch Fix’s drive to reduce its operating costs. In the past year, the company announced a series of job cuts and at the same time recorded a significant drop in sales.
Earlier this month, the company also announced that it is considering exiting the UK market as part of its strategic realignment to improve the company’s efficiency and profitability.
Lake took on the role of Interim CEO early 2023after former CEO Elizabeth Spaulding resigned amid what she called an “ambitious transformation”.
“When I returned to Stitch Fix in January as interim CEO, it was important to me to find an inspirational leader who demonstrates excellence, is passionate about our mission and has a clear commitment to our customers,” said Lake.
She added, “With Matt as CEO, our seasoned management team, and the continued dedication, passion and expertise of the entire Stitch Fix team, I am confident that we can continue to expand our significant competitive advantage in leveraging data and stylists to provide the most personalized experience in the industry and fuel growth for the future.”