Vancouver-based Indochino, the online retailer of made-to-measure menswear, has secured a $42-million investment from Chinese global clothing manufacturer Dayang Group.
The firm plans to use the funding from the group, which makes clothing for Ralph Lauren, J-Crew and Banana Republic, to expand its product range and operations in North America.
“Our customer wants and expects more – more fabric choices, more personalization options, and a variety of suit styles,” said Indochino CEO Drew Green in a press release.
“This financing enhances our ability to meet and exceed our customers’ expectations.”
The announcement comes after Indochino launched the Suit Up Weddings initiative earlier this year, vowing to suit up 25,000 grooms for free in 2016.
Indochino was founded in 2007. In addition to its online store, it currently has showrooms in New York, San Francisco, Philadelphia, Beverly Hills, Boston, Toronto and Vancouver.
Men can make appointments to be measured for custom-made clothing at the showrooms, with delivery in around four weeks. Suits start at $499, shirts at $79.