Home / Knowledge / News / Apparel/Garments / Indochino seals $30 mn investment deal with Dayang
Indochino seals $30 mn investment deal with Dayang
10
Mar '16
Chinese apparel giant Dayang Group, has taken a $30 million stake in Canada's Indochino, a startup selling made-to-measure menswear, mostly through its website, with measuring done by customers.

In a press release, Indochino said this investment will help accelerate the company's expansion plans, significantly enhance the product offering to its customers, and generate additional operating efficiencies within the company's 2016-2020 plan.

In conjunction with the investment, Indochino signed a five-year alliance agreement with Dayang Group that will enable the company 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.

“My objective as incoming CEO of Indochino was to create a five-year business plan and associated investment strategy that would position the company to become an undisputed global market leader in made to measure apparel. This alliance is the first phase of our investment strategy, and we will continue to explore strategic opportunities that further accelerate demand and distribution for our brand and products,” explained Drew Green, CEO of Indochino.

Since its founding, Indochino has become one of the world's largest dedicated made to measure apparel brands, with an average annual growth rate north of 100 per cent since 2007, customers in over 130 countries, and retail showrooms in seven North American cities.
As part of its investment strategy, the company will significantly expand its retail footprint in North America and increase its media budget to help unlock the online business' vast potential in North America and globally.

“Indochino is one of those rare e-commerce companies that was early to multiple big trends, like online customization and online-to-offline retail, with the potential to fully capitalize on those trends in the months and years to come,” said Michael Cam-Phung, Principal at Highland Consumer Partners. “This financing and strategic partnership solidifies the company's position and ability to scale globally.”

As part of this financing, Indochino is entering into a long-term strategic alliance with Dayang Group. A leader in the suit category, Dayang manufactures suits for a range of global brands like Ralph Lauren, BCBG, J-Crew and Banana Republic. This vertically integrated partnership will significantly improve Indochino's business operations and margins by helping to reduce variable production costs, optimize fixed costs and enhance the virtual inventory model it has established through beneficial terms with fabric mills globally.

“Both Dayang and Indochino share the belief that made to measure is the future of apparel, so this strategic partnership came about quite naturally,” said Madame Li, Founder and Chairwoman of Dayang Group. “We were looking to increase our operations in this rapidly growing category, and Indochino had the expertise, along with a strong focus on growing its business into a global brand and leader in the made to measure category.”

A representative from Dayang will also join Indochino's board, the release said. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Bangladesh panel to revise minimum wage for garment workers

Apparel/Garments | On 16th Jan 2018

Bangladesh panel to revise minimum wage for garment workers

The Bangladesh labour and employment ministry recently formed a panel ...

Bruckner to supply dry finishing lines for textile project

Textiles | On 16th Jan 2018

Bruckner to supply dry finishing lines for textile project

Bruckner, a producer of high-tech lines for the dry finishing of...

Courtesy: Carrefour

Apparel/Garments | On 16th Jan 2018

Carrefour signs strategic agreement with Showroomprive

Carrefour, the second largest retail chain in the world, has...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search