Millennial, Gen-X Opps Update: Stitch Fix taps new CMO (Score 73)
Update: It 
didn't take long for Stitch Fix (SF) to fix this stitch; it brought on Debbie Woloshin to serve as US and UK CMO, effective May 23. Woloshin was most recently the CMO at Marc Jacobs. At SF, she succeeds Pauline Reader, who served as the company's marketing SVP until March (more below). A new CMO will likely mean shifts in SF's marketing strategy and agency roster.
In the past, the company has primarily targeted women, but it's starting to target men as well. It's targeting millennials and Gen-X over Gen-Z right now. SF currently utilizes channels such as national TV, digital display, paid social, radio, OOH and local broadcast. Read more details about SF's recent spending in the article below.
Agency & martech readers - As you know, CMO hires often lead to agency reviews. I suggest getting in touch sooner rather than later to secure potential work. Giant Spoon is SF's media AOR; the company splits creative between an in-house team and The Many. Mekanism was behind the campaign detailed in the article below, so it also seems to be working with the company on a project-by-project basis.
The article below was originally published on April 29:
Stitch Fix (SF) is currently in search of a new top marketer since Pauline Reader departed in March 2022. Reader served as the company's marketing SVP for about two and a half years. We will let you know if and when SF finds a replacement; for now, the company may need additional marketing support.
In its newest campaign, SF encourages men to break up with their outdated wardrobes. Made by Mekanism, "Stitch Fix It" is based off of a survey that SF commissioned, which found that 46% of male respondents admitted holding onto old clothes for sentimentality and that 28% regularly wore items more than a decade old. The campaign comes in the form of a music video by Keegan-Michael Key. The two also partnered on a "Keegan-Michael Key's Guide to a Wardrobe Refresh," which has pointers on jettisoning sports jerseys and stocking up on seasonal staples. SF will roll out more content in the coming weeks on Instagram, Facebook, Twitter and TikTok, with influencers sharing the ways they "Stitch Fix It" with their own personal wardrobe struggles. Sellers, get in touch soon to secure last-minute ad dollars.
So far this year, iSpot reports SF has spent approximately $12.2m on national TV commercials, up 58% from the approximately $7.7m it spent within the same 2021 timeframe. The company ended up spending approximately $21.3m on this channel last year, down 11% from the approximately $23.9m it spent in 2020. SF's 2022 commercials have targeted millennials and Gen-X watching shows such as The Golden Girls, Friends, The First 48, South Park and NCIS.
According to Pathmatics, the company has allocated roughly $13.2m toward digital ads YTD, down 9% from the roughly $14.5m it had allocated by this point last year. SF's estimated full-year 2021 spend of $27.9m was down 37% from that of $44.1m in 2020. Since the beginning of 2022, SF has earned ~1.5b digital impressions via Instagram (47%), Facebook (33%), YouTube (18%) and desktop display (1%) ads.
Additionally, Magellan shows SF has aired around 170 podcast ads within the past 12 months.
The company traditionally targets women but has been trying more and more to include men in its target audience. This is its first major effort designed to reach men specifically. As you can tell, SF's TV spend is on the rise while its digital spend dwindles. This leads me to believe the company is targeting millennials and Gen-X more than Gen-Z right now. Per Kantar data, SF also invests in radio, OOH and local broadcast. As I briefly mentioned, I suggest sellers contact soon if able to offer relevant ad space.
Agency & martech readers - Keep SF on your radar since a new top marketer could mean agency reviews. Giant Spoon is SF's media AOR, and it splits creative between an in-house team and The Many. It seems to be working with Mekanism on a project-by-project basis.
