Indochino, a Vancouver, Canada-based global retailer for made to measure menswear, received an up to $42m CDN (approx. $30m USD) investment from Dayang Group, a global apparel manufacturer.
The investment will allow the company to grow its retail presence in North America, increase its media budget to expand the online business’ potential globally, and enhance the product offering to its customers. In conjunction with the financial deal, a note says that Indochino signed a five-year alliance agreement with Dayang Group to introduce three new suit silhouettes, to triple suit and shirt fabric selection, and to quadruple the range of suit personalization options for customers, both online and in its retail stores.
A representative from Dayang will also join Indochino’s board.
Founded in 2007 and led by Drew Green, CEO, Indochino is a made to measure apparel brand, with customers in over 130 countries, and retail showrooms in seven North American cities.
The company currently has showrooms in New York, Beverly Hills, San Francisco, Boston, Philadelphia, Toronto and Vancouver.