Pass It On: How Kidbox CEO deals with competition
Jul. 29, 2018
NEW YORK (AP) — Part of running any business is dealing with competitors. Miki Racine Berardelli, the CEO of the children's online styling service Kidbox, says she's aware of what rivals are doing — but focuses on her business.
There are plenty of companies wanting to dress kids from a box. Stitch Fix, the online styling service for adults, plans to launch a kid's version soon. And Amazon's try-before-you-buy service, called Amazon Wardrobe, offers children's outfits and accessories.
As part of a recent interview with The Associated Press, Racine Berardelli explains why competition may be a good thing:
Q: How much do you pay attention to competitors?
A: I was a lifelong competitive swimmer and the first rule in swimming is you don't look at the competition because you'll take time off your own time. But with that said, of course as the CEO of a company I'm always aware of what's going on out there. But I think this rise of box and curation is simply the new face of retail.
Q: Stitch Fix is launching a version for kids. Are you concerned?
A: I'm excited about it, because it validates our business model and it really helps us tell our story. The consumer is ever-more in charge of their preferences in terms of how they want to shop in this whole world of on-demand and personally styled product and curated product, and Stitch Fix is the leader in that. They're adding children's to their portfolio of categories. We are in the business of children; this is our specialty and we will be the best at it.