Vancouver-based menswear chain Indochino plans to open its 39th location on January 18 – a fourth store in New York City and the company’s first store in Brooklyn.
The company that launched in 2007 as an online venture has in recent years morphed into being an omni-channel retailer with showrooms in cities across North America.
That expansion is ramping up, with up to 20 new stores, including the Brooklyn store, set to open in 2019, according to the company.
Those showrooms are largely used as places where potential customers go to get their measurements taken, and to buy accessories.
“We expect a series of exciting announcements over the coming months that will ensure we continue to excite and delight shoppers looking for a great fit, personalized style and exceptional value in North America and beyond,” said CEO Drew Green.
His estimate is that when Indochino's final sales are counted for 2018, there will be a 43% year-over-year increase in sales, and a compound annual growth rate for sales of 55% between 2016 and 2018.
The year ended on a high note, with Indochino notching what the company said was the largest fourth quarter growth rate in its history, without revealing exactly what that growth rate was.
Indochino’s focus for expansion in 2019 is primarily along the east and west coasts of the U.S. Some of the confirmed showrooms to open in eastern North America are in:
•Brooklyn, New York;
•Greenwich, Connecticut;
•Manhasset, New York;
•Paramus, New Jersey;
•Boston, Massachusetts (second location); and,
•Toronto, Ontario (fourth location).
Showrooms along the west coast of the continent include three in California – Roseville, San Diego and San Jose; Portland, Oregon; and Bellevue, Washington.
“2019 is set to be another phenomenal year as we explore more new markets while profitably growing our existing markets, introduce consumers to exciting new custom products and push the boundaries of what it means to be a world-class retailer,” said Green.
