Indochino hits monthly sales record as eighth store opens

Mississauga mall opening is expected to be the first of several store openings in 2016

Indochino CEO Drew Green expects his overall sales to double this year

Indochino reported June 7 that it achieved an all-time sales record in May, surpassing its former best-ever month of November 2015, which had the blockbuster sales day of Black Friday.

The menswear company would not reveal exact sales volume but said that 2016 sales until the end of May are up 67% compared with the same five months last year.

Part of that increase has come from the largely e-commerce company’s strategy to open brick-and-mortar stores. Its seventh store, for example, opened last August in Beverly Hills.

Indochino’s eighth store opened June 1 in Mississauga’s Square One. It is Indochino’s only store to open in a mall.

Indochino CEO Drew Green said that his company is on its way to achieving what he called a “100% year-over-year growth plan.”

At least a couple more store openings are likely by the end of the year.

“The team’s hard work, focus and collaborative approach to daily efforts is paying off,” he said.

“We’re one of the fastest growing apparel brands in the world and, given our plans for expansion, the best is yet to come.”

Earlier this year, Chinese clothing manufacturer Dayang Group invested $42 million in Indochino.

Click here to read a profile of Indochino CEO Drew Green.

gkorstrom@biv.com 

@GlenKorstrom