Dayang Group, the world’s largest suit manufacturer, has invested in another custom men’s wear maker.
InStitchu, an Australian made-to-measure start-up founded in 2012, will reveal today that it has received a $2.5 million strategic injection from the Chinese company to continue its expansion of showrooms around the world while also elevating the in-store and online experience.
As part of the deal, Dayang will become the production partner for InStitchu, which opened its first showroom in New York last year. The company also operates six showrooms in Australia and New Zealand.
In 2016, Dayang invested $30 million into the Canadian made-to-measure men’s brand, Indochino, a company with a similar business model. It also negotiated to become Indochino’s manufacturer following that investment.
For InStitchu, the funds will allow the brand to more than double its showroom count to 15, the company said. The brand is targeting both the U.S. and Australia for growth.
“The Dayang team share our vision that the future of men’s wear is made-to-measure, and in the belief that a meticulously crafted suit should be affordable,” said James Wakefield, cofounder and co-chief executive officer of InStitchu. “Dayang’s support will increase efficiencies across production and operations cycles, allowing us to be even more customer-centric. Their expertise coupled with our top-notch product and focus on retail expansion will allow us to bring InStitchu into the hands of even more customers.”
Robin McGowen, his business partner and co-founder and co-ceo, added: “Dayang has been an innovator in men’s wear for years. We share a similar philosophy that men want more from their shopping experience, and strongly believe that an equally appealing online and off-line approach is the key to long-term, sustainable growth. Working with our new partners, we’ll be able to help more men around the world dress better, look better and feel better.”
Dongmei Hu, ceo of Dayang Group, pointed to InStitchu’s ability to build a strong brand, provide a good shopping experience and attract a loyal customer base as reasons for its investment. “We’re looking forward to working closely with James, Robin, and the team to help InStitchu create a men’s wear experience custom-built for the 21st century.”
InStitchu was founded high school friends, Australians McGowan and Wakefield, and is now one of the largest made-to-measure producers in Australia.