Stage: Revenue generating
Number of employees: 6-15
Investors: Sandbox Industries
CakeStyle is a personal styling service for busy women that delivers a box of handpicked clothing and accessories to your door each season. Our expert stylists select pieces for our clients from top designer brands like J Brand, Elie Tahari, Diane von Furstenberg, and Theory based on their fit and wardrobe needs. Each client receives a hand-picked box at home to try on, keep what she loves and sends back the rest.
Each box comes complete with a custom stylist-created video, explaining outfit combinations and styling tips.
CakeStyle was created to take the hassle out of shopping. Going to the store, trying on clothes, and making returns is time consuming and tiring, especially for busy women; that's where CakeStyle comes in. Our clients' time is valuable, so we keep them in style and out of stores. We truly make style a piece of cake!
CakeStyle, which is based in Chicago, was founded in 2011 by Millie Tadewaldt and Cecelia Myers and is backed by Sandbox Industries.
In business a little over a year, CakeStyle has become the clear leader in online personal styling for women with thousands of clients served and revenue steadily growing each month.
There are related players in the women's space at lower pricepoints (necessitating a much lower CAC and demanding far more efficient operations to be equally profitable) and in the men's space. CakeStyle's metrics compare favorably to the metrics publicly disclosed by men's analogue, Trunk Club.
44% of women hate to shop – but they spend an average of 140 hours annually shopping for clothes. That's almost 4 work weeks a year. The average woman ends up with $6k-$10k worth of clothing in her closet that she doesn't want and doesn't use.
The misconception that all women love shoping and that they have time to do so created an opening for CakeStyle. We tested our concept with a small group of beta customers in late 2011 and have grown quickly since then.
Even women who love and make time for shopping look at CakeStyle as an additional channel for acquiring new pieces, trying new trends, and getting a little extra style advice.
Our average transaction exceeds that of apparel industry leader Net A Porter and our customers make nearly 4 purchases each year.