Indochino

Indochino is a menswear retailer offering made-to-measure suits, shirts, jackets, vests, chinos and outerwear that are produced and shipped out of Dalian, China.[1][2] The company offers custom suits for below $500, delivered within three weeks.[3] Founder of SHOP.CA Drew Green is the current CEO.[4] Jeff Mallett is former Chairman and an investor of Indochino,[5][6] which claims to be the world's largest online retailer of custom suits,[7] with a head office in Vancouver, British Columbia and a second office in Shanghai, China.

Indochino
Privately held company
IndustryApparel
FoundersKyle Vucko and Heikal Gani
Headquarters
Vancouver, British Columbia
ProductsMenswear
Websitewww.indochino.com/ 

History

Indochino was founded by CEO Kyle Vucko when he was 22, and 26-year-old Heikal Gani – both students at the University of Victoria at the time.[8] They started the company because of their own struggle to find a reasonably priced made-to-measure suit,[9] launching the website in 2007.[10] In 2011, BusinessWeek featured Indochino in their series, America's Most Promising Startups, with the article "This Business Suits the Internet".[11] In late 2015, Vucko stepped down and Drew Green joined Indochino as CEO.[12]

Indochino was one of the first web-only retailers to move offline and open physical stores, initially through pop-up shops before opening permanent showrooms.[13]  Showrooms display the brand's full offering of fabrics. Customers work individually with an Indochino Style Guide who assists them with measurements and suit design options. The finished garment is shipped to the customer's home in around two weeks.[14]

On March 9, 2016, Indochino raised over $47m in funding from investors including Highland Capital Partners, Dayang Group and Madrona Venture Capital.[15][16] This allowed them to grow quickly, with around 50 showrooms in many major cities in North America, including Toronto, Vancouver, New York, Philadelphia, Boston, San Francisco and Los Angeles.[17] In 2017, Indochino entered into a strategic marketing partnership with Postmedia, a Canadian media company, granting the company approximately $32m in media value to increase awareness and accelerate growth in Canada.[18] In 2018, Indochino entered into a partnership with Mitsui & Co. for an undisclosed amount to help the company expand and invest in its global operations and supply chain.[19] In April 2019, Indochino announced that it was expanding internationally and launching its online operations in Australia.[20] After the expansion in Australia, Indochino launched a celebratory kangaroo lining for the jacket interior as a customization option.[21]

gollark: How do you know an animal isn't?
gollark: Probably a bunch?
gollark: You should make laws for possible cases, especially where it exposes holes.
gollark: They are not known to exist now but good ethical frameworks should consider them generally. (EDIT: in order to not produce "human maximizers" running amok over the universe which don't consider the rights of other possible types of being, which I think would be, er, bad)
gollark: That's... bad.

References
  1. "How China partnership helps Indochino offer men's custom suits faster". Retrieved September 10, 2019.
  2. Marikar, Sheila (September 16, 2017). "How Indochino Makes a Custom Fit Suit for Under $500". Fortune. Retrieved February 24, 2020.
  3. Zitron, Ed (May 15, 2012). "Indochino: The It's-Too-Good-To-Be-True-That's-Actually-True Custom Suit". Forbes. Retrieved February 24, 2020.
  4. "Q&A: Indochino CEO Talks Expansion". Chain Store Age. January 2, 2018. Retrieved September 10, 2019.
  5. Seattle VC firm Madrona buys into men’s custom suit website Indochino Seattle Times, Amy Martinez, March 29, 2011
  6. "Jeff Mallet". www.indochino.com. Retrieved December 3, 2017.
  7. "INDOCHINO - Men's Custom Suits". Retrieved April 3, 2018.
  8. Globe and Mail
  9. "Indochino Review – Made to Measure Suits and Shirts | KnownMan.com". www.knownman.com. Retrieved December 3, 2017.
  10. "Indochino Launches Revamped Website and New Collection". Retrieved April 3, 2018.
  11. "America's Most Promising Startups". Bloomberg Businessweek. August 25, 2011.
  12. Mckenzie, Kevin Hinton & Ryan. "BCBusiness". BCBusiness. Retrieved September 10, 2019.
  13. "Internet Retailer | Ecommerce | Online Retailing | Top 500 | Online Sales". Digital Commerce 360. Retrieved September 10, 2019.
  14. Oct 24, Katie Evans |; 2018 (October 24, 2018). "Indochino promises delivery in two weeks and launches payment installments". Digital Commerce 360. Retrieved September 10, 2019.CS1 maint: numeric names: authors list (link)
  15. "Indochino Closes $42 Million Strategic Investment to Expand Its Omni-Channel Shopping Experience". ca.finance.yahoo.com. March 9, 2016. Retrieved February 24, 2020.
  16. "Indochino". Crunchbase. Retrieved December 3, 2017.
  17. "Indochino Showrooms – Made to Measure Suits Designed by You". Retrieved December 3, 2017.
  18. "Postmedia providing Indochino with advertising worth $40M in exchange for cut of revenue | The Star". thestar.com. Retrieved September 10, 2019.
  19. Palmieri, Jean E.; Palmieri, Jean E. (February 8, 2018). "Mitsui Invests in Indochino". WWD. Retrieved September 10, 2019.
  20. "INDOCHINO Sees Explosive Growth Amid Canadian and International Expansion". RETAIL INSIDER. Retrieved September 10, 2019.
  21. https://www.indochino.com/collection/new-arrivals
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