As the year comes to an end, Indochino announced its YTD results, some new key hires, and revealed some of their expansion plans for 2017.
Clay Haeber, formerly head of IT at Kit and Ace, will be taking over as chief operating officer. Morgan Whitney, former financial reporting manager at lululemon, will be Indochino’s VP of finance. Joseph Ford, who was operations manager at Louis Vuitton and Aritzia, will be Indochino’s head of global supply chain and operations managing director in China. Aly Habib, formerly manager of customer care at Shaw Communications, will be Indochino’s director of Customer Service.
“We have assembled one of the best leadership teams in North America for the mission we have, with over 100 years of combined experience leading and growing world-class retail and e-commerce brands. We have made some very bold hires this year,” said Drew Green, CEO of Indochino.
The company said that net revenue for November 2016 increased 40 percent over October 2016, and 109 percent over November 2015. Net revenue for the 11 months ending on November 2016 increased 55 percent over the 11 months ended on November 2015.
“2016 has been a year of exceptional growth and improved profitability for Indochino, highlighted by the resounding success of our November 2016 sales, which are up almost two-thirds over last year,” said Drew Green, Indochino CEO.
For 2017, the company said that it is focusing on the North American market by opening additional showrooms next year where online sales show the strongest demand. In June, Indochino opened its first shopping centre showroom in Square One in Mississauga.
“We offer a truly Omni-channel experience, and intend to expand our retail footprint throughout North America and, in time, around the globe,” said Green. “Our showrooms offer customers an incredible experience and product that is superior to similarly priced retail competitors. Our customers can be measured and build a profile in store, and then purchase later from the comfort of their home or vice versa. They can access their profile at any time and reorder at the touch of a button.”