• INDOCHINO

  Participated · Series A · Mar 2011

  INDOCHINO offers made-to-measure men's apparel via a multi-touch experience that lets customers order online, via mobile, or in person at showrooms. The company combines online and offline retail to make custom clothing more accessible and affordable. INDOCHINO grew revenue more than 50% for a second consecutive year, achieved full-year EBITDA profitability, and expanded its showrooms from 10 to 20 in 2017. The company plans to accelerate North American expansion and invest in its global operations and supply chain. The strategic partnership announced with Mitsui is intended to help INDOCHINO scale internationally and prepare for the next phase of growth. The brand positions itself as a mainstream alternative to ready-to-wear through experiential retail and tailored offerings. Indochino builds made-to-measure menswear sold through its website and showrooms in New York, Beverly Hills, San Francisco, Boston, Philadelphia, Toronto and Vancouver. The company plans product expansion and is moving into the wedding market, including an online ordering system for wedding parties launching March 15. Indochino has averaged more than 100% annual growth since it was founded in 2007, and CEO Drew Green is targeting sales of 1 million suits per year by 2020. The company emphasizes its showrooms as drivers of online sales, with Green saying showrooms can improve online sales in a city by as much as 700%. Proceeds from the new financing will fund new suit silhouettes, expanded fabric choices and increased personalization options. Indochino has previously raised more than $17 million from investors including Highland Capital Partners and Madrona Venture Group. Indochino, co-founded in 2007 by Kyle Vucko and Heikal Gani, is a Vancouver, BC-based online custom menswear service. The company offers an assortment of classic and fashion-forward suits, shirts and outerwear with an unparalleled number of customization options. Leadership includes CEO Kyle Vucko, chief creative officer Heikal Gani and COO Sarah Velt Wallis. Indochino said it will use new funding to continue building its management and operations team and to invest in marketing and product development. In March 2013 the company raised $13M in a Series B round of financing led by the Highland Consumer Fund, with participation from existing investors Madrona Venture Group, Acton Capital Partners and Jeff Mallett. As part of the financing, Tom Stemberg of the Highland Consumer Fund will join the board. Indochino offers mass-customized men's apparel via an online ordering system that collects measurements and works with suppliers in Shanghai to produce made-to-measure suits, shirts, and pants. The company emphasizes data analysis and a measurement tutorial to increase first-order fit accuracy and backs purchases with a 100 percent “perfect fit promise” that includes a $75 alteration credit. Typical suit prices range from $350 to $600. Indochino says it can deliver finished garments to customers in roughly two weeks and is investing heavily in technology to modernize what has historically been a manual tailoring process. The startup reported about 17,000 customers, sales topping $1 million in 2009, and 245 percent growth last year on less than $1 million in prior capital invested. Headcount has grown to 33 employees across Vancouver and Shanghai (up from 10 a year earlier). IndoChino sells tailor-made men's suits online, providing guidance on taking measurements and a perfect-fit guarantee for each garment. Founder All Heikal Gani conceived the business in 2006 while a university student and later teamed with Kyle Vucko to bring the idea to market. The company maintains a head office in Victoria, British Columbia, and an office in Shanghai to oversee production in China. Suits start at $199 (USD) and the site appears to ship outside of North America. IndoChino recently closed its second financing last week with participation from Burda Digital Ventures. Its original seed round was led by Canadian investor Boris Wertz of W Media Ventures.

No current team members are available.