INDOCHINO is making its tailored apparel available to millions more men by opening eight showrooms over the next four months. Denver and Bethesda will open in May, followed by Short Hills and Scottsdale in June. Columbus and Newport Beach are also scheduled to open this summer in addition to previously announced locations in Dallas, opening May, and New York’s Madison Ave, slated for late summer.
INDOCHINO is growing its network by almost a third from 23 to 31. Showroom locations have been chosen for their close proximity to the young professional community, the company’s core demographic.
“The latest investment in retail marks an important step in our growth strategy as we look to expand our brick and mortar network by almost a third over the course of four months,” says Drew Green, CEO of INDOCHINO. “INDOCHINO has evolved its digitally native foundation over the past few years and expanded at an industry leading pace, based on the belief that an enhanced and custom shopping experience should be accessible to everyone. With each new market we enter, we’re moving closer to achieving this. It’s going to be a busy summer and we couldn’t be more excited.”
Attracting core demographic
Starting online before extending into physical retail in 2015, INDOCHINO is growing its network by almost a third from 23 to 31 by the end of the summer. Each new market has been carefully selected with the aid of a heat map showing its strongest online customer bases. Showroom locations have been chosen for their close proximity to a young professional community and as a premier shopping destination for men aged 25-45, the company’s core demographic.
Here is a list of the new showroom locations, with opening dates in chronological order and size:
- May 11, Knox District, 3119 Knox St, Dallas, TX. 2,900 sq. ft.
- May 18, Cherry Creek North, 105-158 North Fillmore Street, Denver, Colorado. 3,196 sq. ft.
- May 25, Bethesda Row, #16-4838 Bethesda Ave, Bethesda, MD. 2,497 sq. ft.
- June 2018, The Mall at Short Hills, 1200 Morris Turnpike, Short Hills, NJ. 2,435 sq. ft.
- June 2018, Scottsdale Quarter, 15037 N. Scottsdale Rd., Scottsdale, AZ. 1,691 sq. ft.
The following showrooms will open Summer 2018:
- Easton Town Center, Columbus, OH . 1,919 sq. ft.
- Fashion Island, 915 Newport Center Drive, Newport Beach, CA. 2,782 sq. ft.
- 488 Madison Avenue, New York, NY. 1,700 sq. ft.
Offering luxury, interactive experience
INDOCHINO showrooms offer a luxury and highly interactive experience where customers step into the shoes of a designer to create their garments. When they arrive at their appointment, they are paired with a Style Guide who takes measurements, walks them through an array of high quality suiting and shirting fabrics and helps them choose from endless customization options. Each perfectly tailored garment is shipped direct to the customer’s door within three weeks.
INDOCHINO’s unique virtual inventory model enables it to run a very efficient retail business, which it is leveraging via its expansion strategy. The company achieved 49% Gross Margin in 2017 with 52% forecast in 2018. It is expecting to end the year with a 53% three year Compound Annual Growth Rate.
“We have continued to develop a differentiated retail concept that offers our customers a world class experience while enhancing shareholder value through significant and sustainable growth,” Green says. “Showrooms give customers access to a completely new way to shop whilst being highly efficient to operate. We pass these savings on to our customers in the form of great value, high quality clothing. It’s a winning formula.”