Vancouver-based menswear company Indochino has inked a US $ 30 million deal with Chinese apparel manufacturer Dayang Group, to open more retail stores in North America region, enhance product selection, and improve its operational efficiencies by reducing costs.
As reported by GeekWire, the newly appointed CEO of the company Drew Green said, “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.”
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Elaborating more on the deal, Li Guilian, Founder and Chairwoman of Dayang Group said that both the companies are of the belief that ‘made to measure’ is the future of apparel and as Dayang is looking to increase its operations in this segment, Indochino’s expertise made it a perfect firm to partner with.
The company was founded in the year 2007 and since then, Indochino’s site has grown by more than 100 per cent yearly, the company claims, and it now has customers in more than 130 countries across the globe.
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