Indochino, a manufacturer of tailored men’s clothing, reported that sales throughout its physical retail network increased by double digits helping first-quarter revenues shatter previous records.
The company, which has its headquarters in Vancouver, said that the volume of its physical showrooms grew with each location, “maximising the return of each storefront in the brand’s network.” Shop-in-shops all saw this growth, with those sites posting year-over-year increases in net sales of 15 per cent and gross margin of 16 per cent.
Overall, the company saw a staggering 130 per cent rise in sales over the course of the four weeks, which led to a 35 per cent gain in EBITDA from the previous year.
According to a press statement, the company also signed a variety of collaborations during the quarter and launched its made-to-measure womenswear product line fully omnichannel, both of which “driven new customer acquisition, and increased brand awareness and operating leverage.”
Through quicker production turnaround times and a collaboration with DHL Express Canada, the business also boosted the speed at which suits were delivered to customers across North America.
The Canadian company manufactured 90 per cent of suits in two weeks or less and 98 per cent in under three weeks throughout the course of the quarter while cutting the shipping transit time from ten days to five days.
“After the exceptional success we saw in 2022, it was essential that we carry that momentum into the first quarter with initiatives, programs, and partnerships that both improve our customer experience and fuel profitable, sustainable growth for the business,” said Drew Green, CEO and president of Indochino.
