Indochino will add to its retail presence this summer by opening four more “showrooms” in the U.S. over the next two months.The Vancouver-based omnichannel men’s wear brand will open stores in New York, Chicago, Washington, D.C. and King of Prussia, Pa., between July 7 and Aug. 11. That will bring the number of stores overall to 17. Indochino refers to its storefronts as “showrooms” since unlike traditional retail, the locations carry no inventory. Instead, customers visit the store to be fitted and to personalize their suits and furnishings in a process similar to that employed by Bonobos and Knot Standard.The first new Indochino store will be located at 25 Broad Street, across from the New York Stock Exchange in lower Manhattan. It’s expected to open on July 7. Next up is a location at The Shops at North Bridge in the River North District of Chicago on July 14. On July 21, a unit will bow at the Tyson’s Galleria in McLean, Va., outside Washington, D.C., and the last one will open on Aug. 11 in the King of Prussia Mall outside Philadelphia.The showrooms will average 2,300 to 2,500 square feet, although the Chicago unit will be smaller, at 1,600 square feet.Drew Green, chief executive officer of Indochino, said Washington and Chicago will be new markets for the company while there are already successful stores in SoHo in New York and on Chestnut Street in Philadelphia.“In the span of a month, we will almost double the number of our U.S. locations,” Green said. “We’ve been prudently searching for the perfect locations to become available and are confident that launching all stores in quick succession will better serve our growing customer base while continuing to build a strong brand presence."[caption id="attachment_10923977" align="aligncenter" width="600"] Indochino's storefronts carry no inventory.[/caption]Indochino, which had been rumored to be a potential takeover target for fashion-crazed Amazon, has been beefing up its management team as it expands its presence in North America. In April, the company opened three showrooms in Western Canada.Green joined the company at the end of 2015 and last March secured a $30 million investment from China’s Dayang Group, one of the world’s largest suit manufacturers that counts Warren Buffett as a major fan.Green has said he has no plans to sell the business and will work instead to expand organically. “We continue to grow in a profitable way,” he said. Although Green declined to provide more specific numbers, he said the company has seen sales rise 57 percent and gross margin improvement of 1,100 basis points over the past six months. He expects sales to end the year up 60 percent over 2016. Green said both earnings before interest, taxes, depreciation and amortization and net income are on pace to improve by more than $11 million in 2017.The brand has shipped 68 percent more product year-to-date than last year and Indochino’s “virtual inventory model,” is proving successful. “We’re not burdened by inventory when we expand our retail footprint,” he said, adding that the showrooms become profitable in under a year. He believes that the brand can operate as many as 150 stores but that growth will be measured and slow. “We’re not just blindly opening stores,” he said. “We’re committed to keep growing the business in a strategic and sustainable way.”Green said he expects to add at least one more showroom this fall in America.Beyond the retail expansion, Green said he is brainstorming with Dayang about which product categories to add next year. “Customers only need so many suits and blazers,” he said. He expects to decide on which categories will be offered in 2018, “but it definitely won’t be women’s wear."
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)