INDOCHINO AIMS FOR MAJOR GROWTH IN 2022
Custom apparel company Indochino wants to make next year its biggest yet and plans to do so by expanding into womenswear, eclipsing 100 retail locations and significantly increasing its share of the men’s wedding apparel market.
“We’re always looking for new ways to enhance our experience and provide quality, affordable made-to-measure options to a generation of men, and now women, so I’m excited for what next year will bring,” said Drew Green, President and CEO of Indochino, in a statement. “We are very proud of 2021, and there are many positive indicators that 2022 will be our biggest year yet with our expansion into womenswear, increasing retail footprint and core experience helping to fuel our growth for decades to come.”
The Vancouver-based company will launch its first women’s line in 2022, targeting a completely new demographic.
“We know that many women are looking for well-tailored custom clothing that doesn’t cost a fortune and there simply isn’t a custom womenswear brand comparable to Indochino on the market,” Green continued. “We’ve been looking to fulfill this need for years but wanted to make sure that the timing was right, we could do it right, and the brand was ready, so I’m delighted to share the news that we will be introducing our first womenswear collection next year.”
The retailer will also surpass 100 physical locations in 2022. The company plans to expand into new markets such as New Mexico, Kentucky and Alabama, while continuing to increase its presence in prominent existing markets such as New York and California. It currently has 79 locations across North America where customers are measured and then design their own apparel that ranges from suits to casualwear.
The new stores will be in both standalone Indochino showrooms and Nordstrom shops, as the brand continues to grow its partnership with the retail giant.
It will also focus on increasing market share of men’s wedding apparel in 2022. This follows a sharp increase in sales of custom wedding attire in 2021, with year-to-date wedding appointments 79 percent higher than the company’s highest benchmark.
In November alone, wedding appointments increased 141 percent over 2019. This correlates with reports that 2022 is set to be the biggest year for weddings since 1984.
Indochino will introduce more fabrics and product features for grooms and groomsmen. Sales of tuxedos, a mainstay of formal weddings, increased by 93 percent in 2021 compared to 2019 and, launching in 2022, customers will have the ability to design any suit fabric as a tuxedo. Customers can also expect an expanded assortment of its most popular ongoing fabric collections, offering wedding customers even more choice throughout the year.