INDOCHINO Posts 67 Percent YTD Growth and Opens New Toronto-Area Store
INDOCHINO, the world's largest made to measure men's apparel company, has achieved outstanding year-to-date growth of 67 percent and announced May as its biggest sales month ever. To continue the growth trajectory, the company initiated its retail expansion plans in June by opening a showroom in Mississauga's Square One.
"We set out to see if we could surpass the incredible Black Friday sales we achieved in November 2015, in May 2016, and we did it," said INDOCHINO's CEO Drew Green. "We achieved these results without the addition of new stores or any major e-commerce enhancements, both of which are investments that we will announce throughout the second half of 2016. As an early indication of what retail expansion can do to our growth, omnichannel sales are up an incredible 171 percent year over year in the first week of June."
Green continued, "We are over 10 percent ahead of plan year to date across our showrooms, and are well on our way to achieving our 2016 100 percent year over year growth plan, which will be powered by our commitment to showroom expansion, especially given the impact our showrooms have on our online sales."
Growth performance highlights
INDOCHINO opened its eighth showroom in Mississauga's Square One Shopping Centre on June 1. Square One is the first of several locations planned for 2016 and INDOCHINO's second showroom in the Greater Toronto Area.
"The team's hard work, focus and collaborative approach to daily efforts is paying off. We're one of the fastest growing apparel brands in the world and, given our plans for expansion, the best is yet to come," said Green. "With retail sales representing 46 percent of the business approximately 21 months after we first entered the category in 2014, our continued retail expansion will play a crucial role in fuelling our exponential growth, both online and overall."
Earlier this year, Square One opened its highly anticipated luxury wing. INDOCHINO joins aspirational fashion retailers, including Holt Renfrew, Harry Rosen, Kate Spade New York, and Ben Sherman. Located in a 2,900-square-foot space in Square One Shopping Centre, the showroom is set to redefine the way men in the city shop by enabling them to get perfectly fitting, personalized clothing made just for them.
The showroom promises an exclusive shopping experience without the high price tag. Customers are paired with a Style Guide who helps them to design their own one-of-a-kind suit or shirt. Style Guides take measurements, assist with fabric selection, and walk shoppers through endless custom options, including buttons, vents, pockets, lapels and monograms. Each garment is made to order and delivered within four weeks.
Customers can walk in or schedule an appointment at: www.indochino.com/showrooms.
Address: Square One Shopping Centre, Level 2, 100 City Centre Dr, Mississauga, ON L5B 2C9
Opening Hours: Mon to Fri: 10am to 9pm; Sat: 9:30am to 9pm; Sun: 11am to 7pm
Contact: (289) 813-6264; [email protected]
Pricing: Suits start at $599 CDN and shirts from $89 CDN
Fabric assortment expansion
In March 2016, INDOCHINO received a strategic investment by Dayang Group, a global apparel manufacturer, to help accelerate the company's expansion plans, significantly enhance the product offering to its customers, and generate additional operating efficiencies.
In the first five months of 2016, INDOCHINO has expanded its suit offering from 129 to 250 suit fabrics and similarly has increased its shirt fabric's from 78 to 200.
"We won't rest until we have the most unique, best and broadest assortment of made to measure suit and shirt fabrics, giving our customers more choice and selection, to get their look their way," said Tom Kearnan, director of apparel development and merchandising. "We have combed the markets of the world to bring current and timeless fashion to our customers, at a price that provides the best value available on the North American market."
"We set out to see if we could surpass the incredible Black Friday sales we achieved in November 2015, in May 2016, and we did it," said INDOCHINO's CEO Drew Green. "We achieved these results without the addition of new stores or any major e-commerce enhancements, both of which are investments that we will announce throughout the second half of 2016. As an early indication of what retail expansion can do to our growth, omnichannel sales are up an incredible 171 percent year over year in the first week of June."
Green continued, "We are over 10 percent ahead of plan year to date across our showrooms, and are well on our way to achieving our 2016 100 percent year over year growth plan, which will be powered by our commitment to showroom expansion, especially given the impact our showrooms have on our online sales."
Growth performance highlights
- May 2016 omnichannel sales were an all-time company record surpassing November 2015 Black Friday results and increasing 21 percent compared to April 2016
- INDOCHINO's omni-channel year-to-date sales through May 31, 2016, have increased 67 percent year over year compared to the first 5 months of 2015. In the same period:
- E-commerce sales have increased 58 percent year-over-year
- Retail sales have increased 80 percent year-over-year
- INDOCHINO has acquired 20,000 new customers, up 72 percent year-over-year
- INDOCHINO's repeat purchase rate has grown by 79 percent year-over-year
INDOCHINO opened its eighth showroom in Mississauga's Square One Shopping Centre on June 1. Square One is the first of several locations planned for 2016 and INDOCHINO's second showroom in the Greater Toronto Area.
"The team's hard work, focus and collaborative approach to daily efforts is paying off. We're one of the fastest growing apparel brands in the world and, given our plans for expansion, the best is yet to come," said Green. "With retail sales representing 46 percent of the business approximately 21 months after we first entered the category in 2014, our continued retail expansion will play a crucial role in fuelling our exponential growth, both online and overall."
Earlier this year, Square One opened its highly anticipated luxury wing. INDOCHINO joins aspirational fashion retailers, including Holt Renfrew, Harry Rosen, Kate Spade New York, and Ben Sherman. Located in a 2,900-square-foot space in Square One Shopping Centre, the showroom is set to redefine the way men in the city shop by enabling them to get perfectly fitting, personalized clothing made just for them.
The showroom promises an exclusive shopping experience without the high price tag. Customers are paired with a Style Guide who helps them to design their own one-of-a-kind suit or shirt. Style Guides take measurements, assist with fabric selection, and walk shoppers through endless custom options, including buttons, vents, pockets, lapels and monograms. Each garment is made to order and delivered within four weeks.
Customers can walk in or schedule an appointment at: www.indochino.com/showrooms.
Address: Square One Shopping Centre, Level 2, 100 City Centre Dr, Mississauga, ON L5B 2C9
Opening Hours: Mon to Fri: 10am to 9pm; Sat: 9:30am to 9pm; Sun: 11am to 7pm
Contact: (289) 813-6264; [email protected]
Pricing: Suits start at $599 CDN and shirts from $89 CDN
Fabric assortment expansion
In March 2016, INDOCHINO received a strategic investment by Dayang Group, a global apparel manufacturer, to help accelerate the company's expansion plans, significantly enhance the product offering to its customers, and generate additional operating efficiencies.
In the first five months of 2016, INDOCHINO has expanded its suit offering from 129 to 250 suit fabrics and similarly has increased its shirt fabric's from 78 to 200.
"We won't rest until we have the most unique, best and broadest assortment of made to measure suit and shirt fabrics, giving our customers more choice and selection, to get their look their way," said Tom Kearnan, director of apparel development and merchandising. "We have combed the markets of the world to bring current and timeless fashion to our customers, at a price that provides the best value available on the North American market."