INDOCHINO Announces 2022 as the Brand’s Most Successful Year to Date
The made to measure brand reached a number of key milestones in 2022, while growing revenues and maintaining positive EBITDA
VANCOUVER, BC, Feb. 16, 2023 /PRNewswire/ — Today, INDOCHINO, the global leader in custom suiting, announced a record breaking year of growth and key milestones for the business. The brand continued its focus on profitability, achieving a seven figure positive EBITDA for 2022, while simultaneously growing their physical retail presence and launching exciting product expansions.
2022 further solidified INDOCHINO’s position as the leader in made to measure apparel, as the brand reached its one millionth suit sold and expanded their collection to include a new women’s base pattern to streamline the measurement and fitting process for customers of all genders. Paired with continued physical retail expansion, including adding nine new showroom locations and eight locations in partnership with Nordstrom, INDOCHINO increased year over year net revenue by 40%. Net orders in physical retail locations grew by over 50%, while a continued focus on e-commerce infrastructure, features and experience resulted in impressive double digit order growth for that channel as well – showcasing the importance of a true omnichannel approach. This was also supported by the brand’s record breaking Black Friday weekend results, where both digital and in-store sales grew significantly, as did the AOV across all orders, highlighting the brand’s resonance with consumers during the year’s most competitive shopping season.
INDOCHINO’s weddings business continued to exceed expectations, posting its best year yet, driven by sustained consumer demand for fashion-forward, elevated formal wear options. Inspired by this trend towards unique wedding day options, INDOCHINO debuted the functionality to turn any suit into a tuxedo, empowering their shoppers to create a truly personalized look.
Partnerships proved a key differentiator for the brand as well, particularly in the sports world. INDOCHINO continued its strong relationships with NBA players, dressing both top draft picks such as Keegan Murray and Jeremy Sochan, and established stars like Chris Paul. The brand also expanded its presence in the NFL, joining forces with the 2022 Super Bowl Champion LA Rams for an exciting year long partnership.
“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.
As the global leader in made to measure apparel, INDOCHINO has developed the shopping experience of the future. Born out of the belief that you don’t need to spend a fortune on a custom wardrobe, INDOCHINO was the first company to disrupt the retail sector by making perfect-fitting, personalized apparel on a mass scale.The brand was also recently named to Newsweek and Statista America’s Fastest Growing Online Shops list for 2022.
Customers take on the role of designer, picking out every detail of their garments to make them truly one-of-a-kind. These are made to their precise measurements and shipped directly to their door, hassle free. The company’s omnichannel approach allows them to shop online or in person at any INDOCHINO showroom.
For more information, visit www.indochino.com and follow INDOCHINO’s social media channels.
Originally published at https://www.prnewswire.com/news-releases/indochino-announces-2022-as-the-brands-most-successful-year-to-date-301748262.html
Some images courtesy of https://pixabay.com
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