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Canada: Indochino is Coming to a City Near You

Canada: Indochino is Coming to a City Near You

Abril 17, 2017

Autor/Fuente: Bloomberg 👤Periodista: María Alejandra Lopez 🕔17.Abr 2017

 

The New York City outpost of Indochino, on Broome Street in SoHo, is three short blocks from a Suitsupply, where pretty good made-to-measure suits start at a very good $639. Around the corner is Topman, which moves High Street trends onto young men’s backs for much less than that.

This coincidence of geographical positioning mimics Indochino’s place in the global marketplace as it looks to resolve a paradox: how do you give made-to-measure suits a mass-market appeal? “I really want to be the No. 1 suitmaker in the world,” Indochino CEO Drew Green told me.

Founded 10 years ago in Vancouver, British Columbia, the brand began with two guys who aimed to end-around the intimidating nature of traditional tailor shops with an Internet-savvy model that soon thrived by selling made-to-measure suits at entry-level prices. By Green’s reckoning, about 75 percent of the approximately 19 million suits sold in North America each year cost less than $400.

Read Also: UNIQLO Announces First Vancouver Store

Not even the highly mixed reviews of Reddit’s Male Fashion Advice—“waited four weeks for a suit that fit me like a trash bag” is a one example—could deter its forward progress. In 2015, after the founders had scaled the business to the limits of their abilities, Green came in to steer the company, drawing on his experience as a co-founder of the e-commerce site Shop.ca. The following year, China-based clothing manufacturer Dayang Enterprise Holdings invested $30 million, which is now being used to beef up Indochino’s “real life” (as opposed to internet) presence.

The company now has 10 showrooms and, in keeping with Green’s ambition to compete with “the Macy’s and Men’s Wearhouses of the world,” is outlining an aggressive plan for expansion. Eight more brick-and-mortar shops are expected this year, including two more in Manhattan, and Green is projecting at least 100 stores total within the next five years. The mall may be dead, but the world of omnichannel retail is merely in its infancy.

Despite the current retail headwinds, this sort of growth helps remedy the fundamental problem of buying tailored clothes online: self-measurement, a process guaranteed to succeed only if your roommate is Alexander McQueen. Correctly figuring out the breadth of your chest is not as simple as it might sound. Part of the Indochino model is to offer customers a $75 credit to be used with a local tailor, as well as remaking a certain number of suits.

In some ways, though, the brand is betting that customization is more relevant than a centimeter here or there. Online or in store, Indochino offers a buffet of personalized options—pick stitching, slanted pockets, side tabs on the trousers, functional cuff buttons, interior monogramming, and contrast coloring on either the buttonholes, the collar felt, or both. In this way, it serves the tastes of the millennial generation and those younger. “Everything is personalized,” Green said of Generation Z. “They are the brand. They consider themselves

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