Indochino Explained

Indochino
Type:Privately held company
Industry:Apparel
Founded:2007
Founders:Kyle Vucko and Heikal Gani
Hq Location City:Vancouver, British Columbia
Num Locations:79
Num Locations Year:October 2021
Areas Served:-->
Key People:Drew Green, CEO
Products:Made-to-measure suits and casual menswear
Owners:-->

Indochino is a made-to-measure menswear retailer that offers personalized suiting, casual wear, and outerwear.[1] [2] Originally founded as an exclusively online retailer, Indochino has opened 79 showrooms in Canada, the United States, and Australia. The company is headquartered in Vancouver, British Columbia, with a second office in Shanghai, China.[3]

History

Indochino was founded by Kyle Vucko and Heikal Gani. In late 2015, Vucko stepped down and Drew Green, the founder of Shop.ca, joined Indochino as chief executive officer.[4]

Indochino was one of the first web-only retailers to open physical stores, initially through pop-up shops before opening permanent showrooms.[5]   In showrooms, customers work with a "style guide" who helps them design their garment, which is made to measure and shipped in around two weeks.[6]

In 2016, Indochino raised funding from investors, opening about 80 showrooms in North America.[7]

In 2017, Indochino entered into a strategic marketing partnership with Postmedia, a Canadian media company, receiving $40 million in advertising in exchange for an undisclosed share of its reveneue.[8] In 2018, Indochino received a "strategic investment" from Mitsui & Co. under undisclosed terms.[9]

In 2019, Indochino announced that it was expanding internationally and launching its online operations in Australia.[10]

In 2021, the company partnered with Nordstrom to open 21 custom apparel stores-within-a-store at Nordstrom locations.[11]

Currently, Indochino guides clients in the store location to find the styles, measure each person to order, and sends this information their manufacturer located overseas in China (and possibly other more "affordable" labor forces overseas). It takes approximately two weeks for the suit to be created/fashioned overseas and shipped to you.

Notes and References

  1. News: How China partnership helps Indochino offer men's custom suits faster. September 10, 2019.
  2. Web site: How Indochino Makes a Custom Fit Suit for Under $500. Marikar. Sheila. 2017-09-16. Fortune. en. 2020-02-24.
  3. Web site: January 2, 2018. Q&A: Indochino CEO Talks Expansion. September 10, 2019. Chain Store Age. en-US.
  4. Web site: BCBusiness. Kevin. Hinton. Ryan. Mckenzie. BCBusiness. en. September 10, 2019.
  5. Web site: Internet Retailer Ecommerce Online Retailing Top 500 Online Sales. Digital Commerce 360. en-US. September 10, 2019.
  6. Web site: Indochino promises delivery in two weeks and launches payment installments. Katie. Evans. October 24, 2018. Digital Commerce 360. en-US. September 10, 2019.
  7. News: Indochino Showrooms – Made to Measure Suits Designed by You. December 3, 2017. en.
  8. Web site: Postmedia providing Indochino with advertising worth $40M in exchange for cut of revenue The Star. thestar.com. October 25, 2017. en. September 10, 2019.
  9. Web site: Mitsui Invests in Indochino. Palmieri. Jean E.. February 8, 2018. WWD. en. September 10, 2019.
  10. Web site: Indochino Sees Explosive Growth Amid Canadian and International Expansion. Retail Insider. April 30, 2019. en-CA. September 10, 2019.
  11. Web site: First Look: Nordstrom opens in-store Indochino shops . Chain Store Age . 19 June 2022 . en.