Indochino to open four new US showrooms this summer
Made-to-measure retailer Indochino on Thursday announced plans to open more showrooms in four major cities in the US this summer.
The Vancouver-based company is expanding its physical locations in response to an increased demand from customers. The first of four showrooms will open on July 7 in New York City’s Financial District, and will be Indochino’s second New York City location, joining the retailer’s SoHo location on Broome Street.
On July 14, Indochino will open a flagship showroom in Chicago at The Shops at North Bridge in the River North District, followed by Tyson’s Galleria in the Washington DC area on July 21, and finally the King of Prussia Mall outside of Philadelphia on August 11.
Like the new Financial District location, the King of Prussia Mall showroom will join a freestanding Philadelphia-area showroom on Chestnut Street in Philadelphia, while the Chicago and Washington DC locations will serve new markets for Indochino.
"In the span of a month, we will almost double the number of our U.S. locations as we continue to change shopping habits and bring our unique showroom experience to men across North America," said Drew Green, CEO of Indochino. "We've been prudently searching for the perfect locations to become available and are confident that launching all stores in quick succession will better serve our growing customer base while continuing to build a strong brand presence."
Launched as an online retailer in 2007, Indochino opened its first physical location in its home city of Vancouver in 2014. The retailer currently operates 13 locations in North America, and plans to open 150 global physical locations by 2020.
The expansion comes as no surprise for Indochino. The retailer recently reported a 57% increase in net revenue for the months between December 2016 and May 2017, as well as a gross margin improvement of 1,100 basis points, and a 43% increase in customer base. Indochino also expects its EBITDA and net income to improve by over $11 million in 2017.
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