INDOCHINO, the global leader in custom suiting, announced a record breaking year of growth and key milestones for the business.
2022 has proven to be INDOCHINO's strongest year to date, driven by a renewed interest in tailored clothing as consumers return to the office, weddings and other events, as well as the brand's continued physical retail expansion. Showrooms and in-person measurement sessions are a cornerstone of the brand's success with net orders from physical retail locations up 87% this year.
"Smart growth and innovation are core to INDOCHINO's DNA, and 2022 was an exceptional year for the business in both of these regards. Our focus on profitability and operating efficiency, while simultaneously investing in an industry-leading omnichannel customer experience, has put the business in a strong position for continued success. We look forward to continuing this momentum into 2023, as we debut our Spring collection and look to build upon the success of womenswear with a full omnichannel launch", said Drew Green, CEO of INDOCHINO.
Main areas that lead to retail expansion and growth in 2022:
Paired with continued physical retail expansion, including adding nine new showroom locations and eight locations in partnership with Nordstrom, INDOCHINO increased year over year net revenue by 40%.
Net orders in physical retail locations grew by over 50%, while a continued focus on e-commerce infrastructure, features and experience resulted in impressive double digit order growth for that channel as well - showcasing the importance of a true omnichannel approach
INDOCHINO's weddings business continued to exceed expectations, posting its best year yet, driven by sustained consumer demand for fashion-forward, elevated formal wear options.
Record breaking Black Friday weekend results, where both digital and in-store sales grew significantly, as did the AOV across all orders, highlighting the brand's resonance with consumers during the year's most competitive shopping season.
Partnerships proved a key differentiator for the brand as well, particularly in the sports world. INDOCHINO continued its strong relationships with NBA players, dressing both top draft picks such as Keegan Murray and Jeremy Sochan, and established stars like Chris Paul.
In August 2022, INOCHINO debuted the pilot program for women's suiting is now available at 8 showrooms across the US and Canada, including locations in Vancouver, Toronto, New York City, Seattle, and Bellevue, with plans to expand to additional showrooms in 2023.
