Indochino, a Vancouver-based company, experienced record-breaking sales in the first quarter.
The company’s physical showrooms saw an increase in volume per location, resulting in a 15 percent increase in net revenue and a 16 percent increase in gross margin year-over-year for its shop-in-shops.
Overall, Indochino achieved a remarkable 130 percent sales increase, leading to a 35 percent increase in EBITDA year-over-year.
In addition to its sales growth, the company formed diverse partnerships and launched its made-to-measure womenswear product assortment, which contributed to new customer acquisition and increased brand awareness.
The company also improved its speed to delivery through faster production times and a partnership with DHL Express, allowing for 90 percent of suits to be produced in two weeks or less, and 98 percent in under three weeks.
Shipping transit time was also reduced from ten days to five days.
After a successful partnership with Resorts World Las Vegas, Indochino plans to further strengthen its connection to the sports world in the second quarter..
