Dive Brief:
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As part of a broader strategy to grow its assortment, custom apparel retailer Indochino began offering its first ready-to-wear collection on Monday in showrooms across the U.S. and Canada.
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The ready-to-wear capsule includes blazers starting from $349 and pants from $150, with on-site alterations available.
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The Canada-based company plans to grow its ready-to-wear assortment in the future and “significantly expand” its accessories, according to the press release.
Dive Insight:
Indochino's launch of its ready-to-wear collection expands the brand's product assortment beyond its staple of custom suiting.
“Indochino is on a mission to bring well-fitting suits to the masses,” President and CEO Drew Green told Retail Dive in an email on Tuesday. “Being able to have an assortment of suits available for the customer on their timeline is paramount in reaching that goal.”
The digitally native brand relies on an omnichannel approach, allowing customers to shop virtually or in person at its showrooms in the United States and Canada.
Indochino launched in 2007 and made-to-measure suits remain the core of its business.The brand continues to expand its product offerings — including through a womenswear collection that launched in 2022 and a ready-to-wear knitwear line that launched in 2021 — and grow its presence through showrooms and retail partnerships.
Although privately-owned, Indochino reported revenue growth in 2022 and its first quarter last year. The brand reported it saw “record-setting” revenue in its first quarter and last February reported a 40% bump in year-over-year revenues in 2022. The company has not released financial information for 2023 as a whole.
“We are excited to be able to expose an even larger share of the market to the Indochino brand with our new Ready to Wear offering,” Green said to Retail Dive. The ready-to-wear Collection “is a natural progression of the Indochino brand as we work to continue to develop our community of brand loyalists.”
In 2019, Indochino expanded its physical presence on the West Coast with its fourth store in California. That same year Indochino opened its 50th showroom in Washington, DC, followed by one in New Orleans in 2020. In summer 2021, the brand partnered with Nordstrom, allowing it to open 21 shop-in-shops in Nordstrom stores nationwide.
