Vancouver-based made-to-measure brand Indochino announced on Thursday 2022 as a record breaking year of growth, achieving a seven-figure positive EBITDA, and increasing year-over-year net revenue by 40%.
In 2022, Indochino reached its one millionth suit sold and expanded its collection into womenswear, streamlining the measurement and fitting process for customers of all genders. The company also continued physical retail expansion, with the opening of nine new showroom locations and eight locations in partnership with Nordstrom.
Net orders in physical retail locations also grew by over 50%, while e-commerce saw a double digit order growth. This was also supported by the brand’s record breaking Black Friday weekend results.
Other key milestones include the company’s wedding business, which posted its best year yet, and securing notable partnerships with NBA players, and expanding its presence in the NFL.
“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,” said Drew Green, CEO.
“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.”
Indochino, which first launched in 2007 as an online retailer, currently operates over 80 locations across North America.
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