Indochino closes $30 million investment with China’s Dayang Group

By

Jennifer Braun

Published
Mar 10, 2016

Indochino, a Vancouver-based global retail pioneer in made to measure menswear, announced on Wednesday an investment of $30 million USD from China’s Dayang Group, a global apparel manufacturer.
 

The investment will help accelerate Indochino's expansion plans, significantly enhance its product offerings, and will generate additional operating efficiencies within the company's 2016-2020 plan. 

Indochino also signed a five-year alliance agreement with Dayang Group that will allow 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. These changes will effect both their online and retail operations.

“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," explaines Drew Green, CEO of Indochino, in a news statement.
 
Indochino has had an average annual growth rate of more than 100 percent since 2007.
 
"Both Dayang and Indochino share the belief that made to measure is the future of apparel, so this strategic partnership came about quite naturally," says Madame Li, Founder and Chairwoman of Dayang Group, in a news statement.
 
Dayang Group is leader in the suit category and manufactures suits for a range of global brands like Ralph Lauren, BCBG, J-Crew and Banana Republic.