Indochino Offering Free Pants to Goldman Sachs Employees

Men’s wear retailer Indochino is doing its part to help the guys from Goldman Sachs navigate their new, less formal way of dressing.
Last week, the investment banking firm made headlines when it said it was shifting to “a firmwide flexible dress code” to reflect the “more casual environment.”
Indochino jumped at the opportunity and is offering free custom chinos to any Goldman Sachs executives based in New York or New Jersey. The men need only visit one of the company’s showrooms in the tristate area — Madison Avenue, Financial District, SoHo, Brooklyn and Short Hills, N.J. — and show proof of employment and a photo ID to take advantage of the offer. From there, they will get measured, select chino color and customizations. Orders must be placed by Friday, April 26.
“Goldman Sachs is the epitome of the financial industry and its newly relaxed dress code is a reflection of more relaxed workplace standards and a shift toward personal choice and increased flexibility,” said Drew Green, president and chief executive officer of Indochino. “Starting with a great-fitting, casual pair of chinos, we’re inviting executives to refresh their wardrobes with Indochino so that they can be comfortable and confident in any situation.”

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Opportunity Abounds in Los Angeles for Indochino

SANTA MONICA — Indochino continues to grow at a rapid clip, most notably in the Los Angeles area where the company on Wednesday opened its newest store in Santa Monica.
The 2,300-square-foot showroom at Santa Monica Place will be followed by additional stores locally on Melrose Avenue and up north in Sacramento. The company, by the end of the year, will have seven California showrooms.
“The business is growing quite rapidly,” president and chief executive officer Drew Green said, adding the company between 2016 and 2018 grew at a compounded annual growth rate of 55 percent. “What we’ve seen is New York is our number-one market and we’ve heavily invested in New York. California represents a big opportunity. We invested in San Francisco on Post [Street]. We’ve got the showroom in Beverly Hills and now we’re going to continue to really expand in California.”
Santa Monica marks the company’s 41st showroom with another 11 in production. The company will likely launch another 20 showrooms in 2020 bringing the total count to more than 70 in the U.S. and Canada, Green said.
Santa Monica will serve the large customer base in the area, with showroom location openings data driven.
Elsewhere in the U.S., Indochino’s 2,234-square-foot Boston

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Indochino to Open 20 Showrooms This Year

Indochino will open up to 20 retail showrooms in North America this year.
The Vancouver-based custom men’s brand, said the expansion will be concentrated on the East and West Coasts of the U.S. The first will open in Cobble Hill in Brooklyn on Jan. 18. Other locations will include Greenwich, Conn., Manhasset, N.Y., and Paramus, N.J., followed by a second unit in Boston and a fourth in the Greater Toronto area. Three showrooms will open in California, in Roseville, San Diego and San Jose, plus Portland, Ore., and Bellevue, Wash.
Indochino ended 2018 with 38 showrooms.
The brand is also expanding its categories. Last year, it began offering chinos and outerwear and will begin offering casual shirts by summer as well as an expanded assortment of custom suits, dress shirts and formalwear.
Indochino said it posted a 43 percent increase in sales in 2018 with a compound annual growth rate of 55 percent and positive earnings before interest, tax, depreciation and amortization for the second consecutive year. The company declined to provide more specific figures.
Drew Green, president and chief executive officer of Indochino said the company doubled its retail footprint in 2018 and is ready to “explore more new markets while profitably growing our existing markets, introduce consumers

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Indochino to Open Eight Additional Showrooms by Summer’s End

Indochino is continuing to expand its reach.
The Vancouver-based made-to-measure men’s wear firm has set plans in motion to open eight additional showrooms in the U.S. over the next four months. 
The first three will open later this month in Denver, Dallas and Bethesda, Md., followed by Short Hills, N.J., and Scottsdale, Ariz., in June. Columbus, Ohio and Newport Beach, Calif., are also slated to open this summer along with New York City’s Madison Avenue location.
“The latest investment in retail marks an important step in our growth strategy as we look to expand our bricks-and-mortar network by almost a third over the course of four months,” said Drew Green, chief executive officer of Indochino. “Indochino has evolved its digitally native foundation over the past few years and expanded at an industry-leading pace, based on the belief that an enhanced and custom shopping experience should be accessible to everyone. With each new market we enter, we’re moving closer to achieving this. It’s going to be a busy summer and we couldn’t be more excited.”
By the end of the summer, this will bring Indochino’s retail footprint to 31 showrooms. The locations were all chosen by determining where the brand has its strongest online business

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Mitsui Invests in Indochino

Indochino has a new partner.
The Vancouver-based men’s made-to-measure brand has received “a strategic investment” from Mitsui & Co. (U.S.A.) Inc., that will be used to accelerate the brand’s North American expansion plans and investment in its global operations and supply chain.
Terms were not disclosed.
Drew Green, chief executive officer of Indochino, said: “I have admired Mitsui for many years and could not be more proud to welcome them as a shareholder and partner. Indochino has established a new way for men to experience well-fitting garments with ease and affordability. Our strong sales and earnings growth demonstrate that the Indochino brand resonates with consumers and has become a mainstream alternative to ready-to-wear clothing. Mitsui’s global footprint and its expertise scaling and operating international businesses will be invaluable as we prepare for the next phase of growth and scale as a global apparel brand.”
Takayuki Iwai, senior vice president and divisional operating officer of the Consumer Service Business Division of Mitsui & Co. U.S.A.) Inc., said: “We believe Drew and his team have done an outstanding job in building Indochino into one of the industry’s most innovative and dynamic companies, and are truly excited by the prospect of working together towards achieving the company’s long-term goals

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Indochino Cuts Delivery Time, Sets Showroom Expansion

Indochino, the Canada men’s made-to-measure clothing brand, is raising the ante.
The company is now committing to deliver all orders within three weeks, down from the current four weeks. The company is working closely with its strategic partner, China’s Dayang Group, one of the largest suit manufacturers in the world, to cut down on production time. Indochino has also partnered with a new shipping and logistics provider, which has further reduced delivery time.
“Indochino’s goal is to make great fitting, personalized clothing the de facto choice for men across North America and achieving a three-week delivery timeframe marks a major milestone in this bold endeavor,” said chief executive officer Drew Green. “This is the result of months of hard work from my team and our partners across the world and is just the beginning of our plans to reduce the delivery time as we continuously strive to find innovative new ways to provide our customers with a world-class experience, from start to finish.”
Additionally, the company said it plans to open as many as 18 new showrooms in 2018 where customers can visit and place orders in retail settings. On Dec. 14, Indochino will open its 19th showroom at Mall of America in Bloomington,

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Indochino Partners With Canadian Media Company

Indochino, the Vancouver-based made-to-measure men’s brand, has a new partner.
The company has created what it is calling “a strategic partnership” with Postmedia, a Canadian media company representing more than 200 newspaper brands across Canada.
Under the terms of the deal, Postmedia has committed to invest more than 40 million Canadian dollars of media money in the brand over the next five years.
Postmedia will help Indochino grow its market share in Canada by promoting the company through print, digital and native advertising to its 13.4 million monthly unique digital visitors and 8.3 million weekly print readers in Toronto, Ottawa, Vancouver, Calgary, Edmonton and other emerging markets in Canada where Indochino has less of presence.
“We’re proud to be symbiotically aligned with Canada’s largest newspaper company, which provides credible sources of news via its digital and print network to two in three adults,” said Drew Green, Indochino’s chief executive officer.
“As part of our 2016-2020 plan, we’ve boldly sought out strategic alliances to help us achieve our business goals and this mutually beneficial partnership will no doubt have a profound impact on our growth in Canada.”
Green said the deal will serve to boost the brand’s marketing activities while lowering one of its largest expenses.
“Both sides have

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Indochino to Add Four More U.S. Stores

Indochino will add to its retail presence this summer by opening four more “showrooms” in the U.S. over the next two months.
The Vancouver-based omnichannel men’s wear brand will open stores in New York, Chicago, Washington, D.C. and King of Prussia, Pa., between July 7 and Aug. 11. That will bring the number of stores overall to 17. Indochino refers to its storefronts as “showrooms” since unlike traditional retail, the locations carry no inventory. Instead, customers visit the store to be fitted and to personalize their suits and furnishings in a process similar to that employed by Bonobos and Knot Standard.
The first new Indochino store will be located at 25 Broad Street, across from the New York Stock Exchange in lower Manhattan. It’s expected to open on July 7. Next up is a location at The Shops at North Bridge in the River North District of Chicago on July 14. On July 21, a unit will bow at the Tyson’s Galleria in McLean, Va., outside Washington, D.C., and the last one will open on Aug. 11 in the King of Prussia Mall outside Philadelphia.
The showrooms will average 2,300 to 2,500 square feet, although the Chicago unit will be smaller, at 1,600

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Indochino Bolsters Management Team

Indochino, a Vancouver-based omnichannel men’s wear brand, has beefed up its management team.
The company has brought Randy Binning on board as vice president of retail operations and promoted Dean Handspiker to vice president of design, product and showroom development.
Binning has spent the last 15 years at Guess Inc., where he has served as both director of West Coast North America and then director of stores for Canada. At Indochino, he will be charged with leading a consistent customer experience across all locations and work to ensure continued profitability as the company expands.
Handspiker will be responsible for the overall look and vision of the Indochino products and will oversee the seasonal design of the brand’s suits, shirts and accessories. He will also work to ensure a consistent message in each of the company’s showrooms.
“Building a world-class team of dedicated, highly skilled and forward-thinking people has been a top priority for us in the past couple of years and we are thrilled to welcome Dean and Randy to our senior management team simultaneously,” said Drew Green, chief executive officer.
In April, Indochino opened three showrooms in Western Canada, bringing the total to 13. There are also five additional showrooms planned for the U.S.

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Indochino Adds Staff, Plans More Store Openings

Indochino, a made-to-measure men’s suit company, has beefed up its staff as it prepares to add to its retail presence next year.
The Vancouver-based company has hired Clay Haeber, formerly of Kit and Ace and Lululemon, as chief operating officer. Morgan Whitney, another alumni of Lululemon, has joined as vice president of finance; Joseph Ford, who has worked at the Gap, Aritzia and Louis Vuitton, has been named director of global supply chain operations; and Aly Habib, formerly with Shaw Communications, has been named director of customer service.
At the same time, the company said it will expand its presence in North America by opening additional showrooms in 2017 where online sales show the greatest demand as well as in existing markets to support the showrooms that are already open.
Indochino currently has retail showrooms in New York, Beverly Hills, San Francisco, Boston, Philadelphia, Toronto, Ottawa and Vancouver.
The company did not specify the number of stores, specific locations or time frame but did say that the strategy it employed this year — to open showrooms in a cluster in the Toronto area as well as in key shopping malls in Canada — has proven successful.
“Our data suggests we have strong consumer interest in

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