Getting a man to shop can be a difficult task. Indochino has raised $13 million to make it easier.
Indochino is an online menswear store that makes shopping for stylish clothing as painless as possible. Men pick from a selection of suits, shirts, outerwear and accessories to choose their style, customize their choices with details like monograms and linings, and go through a quick step-by-step guide to create their measurement profile. The clothes are then made and delivered within 35 days of ordering.
“Most men need all the help they can get when shopping for their own wardrobe,” said Tom Stemberg, Managing General Partner of Highland Consumer Fund, in a statement. “By providing higher quality custom menswear at a lower cost, Indochino has revolutionized the direct-to-consumer business and become a global presence in custom menswear.”
Highland led this round and Stemberg will join the company’s board. Madrona Venture Group and Acton Capital Partners also participated in this round. Vertically-integrated e-commerce startups are taking off, as well as fashion startups geared towards men who appreciate the convenience of online shopping. Last April, online mens clothing retailer Bonobos raised $16.4 million and other startups like Frank & Oak and Trunk Club have garnered attention for making good style easy and accessible to the average Joe. By cutting out the middlemen, companies like these can offer higher quality goods at a lower cost and prove a greater layer of personalization.
This financing will be used to investment in marketing and product development. Indochina is also opening up a pop up ‘Traveling Tailor’ store in Boston, where men can be measured and styled in person. Indochino is headquartered in Vancouver, BC. It was founded in 2007 and has raised $17.25 million to date.
Photo Credit: Indochino
How startups are scaling communication: The pandemic is making startups take a close look at ramping up their communication solutions. Learn how