Companies that offer customized-menswear services are experiencing major opportunities and revenue growth. And they’re responding by investing in upgrades to their supply chain policies.
InStitchu, the affordable custom-tailored menswear brand, recently received a $2.5 million investment from Dayang Group, the world’s largest suit manufacturer. The investment comes on the heels of InStitchu’s positive performance in 2017, when the company opened its first U.S. storefront in New York City, had a 114 percent year-on-year growth and tripled staff to more than 60 worldwide.
“InStitchu has achieved great success building an incredible brand, a beautiful shopping experience and a loyal customer base of fans all around the world,” Dayang Group CEO Dongmei Hu, said. “We’re looking forward to working closely with…the team to help InStitchu create a menswear experience custom-built for the 21st century.”
With the investment, InStitchu will continue elevating efforts to serve its loyal customer base by continuing its global showroom expansion, and enhancing online and in-store experiences. Dayang will become a production partner for InStitchu’s, offering its decades of expertise to further support the company’s growth.
“The Dayang team share our vision that the future of menswear is made-to-measure, and in the belief that a meticulously crafted suit should be affordable,” said James Wakefield, InStitchu’s cofounder and co-CEO. “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.”
InStitchu is equally as enthusiastic about the partnership, believing it will both benefit from focusing on the shared beliefs that shopping enhancements, both online and in-store, are the keys to long-term growth.
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“We share a similar philosophy that men want more from their shopping experience, and strongly believe that an equally appealing online and offline approach is the key to long-term, sustainable growth,” Robin McGowan, InStitchu’s cofounder and co-CEO said. “Working with our new partners, we’ll be able to help more men around the world dress better, look better, and feel better.”
In another move forward for customized suiting, Men’s Wearhouse and JoS. A. Bank, subsidiaries of Tailored Brands, recently announced plans to improve its speed to market to cater to growing consumer demand for custom tailoring.
The company announced last week that it will narrow its delivery timeframe on premium custom suits from four weeks to just three. The decision came in response to increasing interest in personalized men’s goods, which drove more than $100 million in sales for Tailored Brands in fiscal 2017.
“As one of the largest and fastest growing custom clothing retailers for men, we strive to continuously delight our customers with the highest level of customer service,” Doug Ewert, Tailored Brands CEO, said. “Our brands have a distinct competitive advantage in that we can deliver beautifully constructed custom suits to our customers faster through our Made-in-America manufacturing process.”