Online menswear company in U.S. store expansion
Made-to-measure menswear brand Indochino continues its expansion from the Web into physical retail.
The Canadian retailer will open stores ("showrooms) in four major markets in the United States this summer. On July 7, Indochino will open a second New York location, in the heart of the city’s Financial District. Other locations include a flagship at The Shops at North, in Chicago, opening on July 14, and one at Tyson’s Galleria, Maclean, Virginia, opening on July 21. On Aug. 11, Indochino will debut at King of Prussia Mall, King of Prussia, Pa.
Indochino opened its first permanent brick-and-mortar location in 2015. The four new U.S. outposts will take the company's total retail number to 17 across North America.
“In the span of a month, we will almost double the number of our U.S. locations as we continue to change shopping habits and bring our unique showroom experience to men across North America,” said Drew Green, CEO of Indochino. “We’ve been prudently searching for the perfect locations to become available and are confident that launching all stores in quick succession will better serve our growing customer base while continuing to build a strong brand presence."
Indochino’s stores are handsome and sophisticated looking, and designed to bring the brand’s online made-to-measure experience to the physical space. The brand promises a “luxury tailoring experience without the high price tag.”
Customers are paired with a “style guide” who tailors the appointment based on each customer’s needs and helps him to put together a one-of-a-kind suit or shirt. The associate helps with fabric selection, and walk shoppers through a wide variety of personalization options, including buttons, pockets, lapels and monograms. Each garment is made-to-order and delivered in about four weeks.
Along with announcing the new locations, Indochino reported it experienced 57% year-over-year growth in net revenue over the past six months, after finishing 2016 with 54% year-over-year growth. It also reported gross margin improvement of 1100 basis points.
"It’s been a stellar year of profitable growth and we’re committed to keep growing the business in a strategic and sustainable way as we offer men around the world personalized clothing at unprecedented value,” Green said.
No comments found