Made-to-measure menswear brand Indochino has new investor and strategic partner
Indochino has a new investor.
The digitally-native brand, which has been expanding in brick-and-mortar, has received a “strategic investment” from Mitsui & Co. (U.S.A.). The investment and strategic collaboration will be used to help the retailer accelerate its North American expansion plans and investment in its global operations and supply chain. Terms of the deal were not disclosed.
Indochino is coming off a successful 2017 during which it grew revenue more than 50% (for a second consecutive year), achieved full year EBITDA profitability and expanded from 10 to 20 showrooms. It plans to open up to 18 locations in 2018.
“Mitsui’s global footprint and its expertise scaling and operating international businesses will be invaluable as we prepare for the next phase of growth and scale as a global apparel brand,” said Indochino CEO Drew Green.
Mitsui is the third global corporation to forge a strategic investment in Indochino in the last several years. Its new shareholders include Dayang Group, the world’s largest suit manufacturer, and Postmedia, Postmedia Indochino Chain store age one of Canada’s largest media companies.
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