Indochino, a global leader in custom suiting, had a record-breaking year of growth and key milestones for the business in 2022 as the brand continued its focus on profitability, achieving a seven-figure positive EBITDA, while simultaneously growing its physical retail presence and launching product expansions.
“Smart growth and innovation are core to Indochino’s DNA, and 2022 was an exceptional year for the business in both of these regards. Our focus on profitability and operating efficiency, while simultaneously investing in an industry-leading omnichannel customer experience, has put the business in a strong position for continued success. We look forward to continuing this momentum into 2023, as we debut our Spring collection and look to build upon the success of womenswear with a full omnichannel launch,” said Drew Green, CEO of Indochino.
The made-to-measure apparel brand added nine new showroom locations and eight locations in partnership with Nordstrom last year. It increased year-over-year net revenue by 40 per cent. Net orders in physical retail locations grew by over 50 per cent, while a continued focus on e-commerce infrastructure, features and experience resulted in a double-digit order growth for that channel as well.
The SS23 collection features the brand’s first-ever dual-gender campaign imagery and celebrates the personal stories that fashion brings to life. In conjunction with the collection’s debut, Indochino is also expanding its women’s offering to their e-commerce channel, following a successful rollout in select physical showrooms last fall.
Indochino is also expanding its custom apparel offering with a fit that celebrates the female form. This makes the brand the first to sell custom women’s apparel digitally on a mass scale. Throughout the Fall of 2022, Indochino was able to successfully pilot the launch of this new offering. With an overwhelmingly positive customer response, the retailer is supporting the omni-channel experience for its entire customer base. The first half of 2023 will see womenswear become available across the complete network of Indochino’s owned showrooms throughout North America.
In this video interview, Green discusses the record-breaking year, the women’s collection and the company’s growth plans.
The Video Interview Series by Retail Insider is available on YouTube.
The Video Interview Series by Retail Insider is available on YouTube.
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