PRLog (Press Release) –
Apr 23, 2008 – Victoria, British Columbia – Indochino Inc., an online fashion company with offices in Victoria, B.C. and Shanghai, China, announced today that it has received an investment from Burda Digital Ventures, the venture capital arm of one of Germany’s largest media companies. Visitors to the company’s website www.Indochino.com can order high quality, affordably priced, custom tailored men’s suits to be delivered direct to their door within two weeks. Indochino will use this round of financing to build operations and scale to meet growing demand.
Placing quality and customer service as top priority, Indochino taps into the rapidly growing online retail market with a socially conscious business model that establishes partnerships with skilled master tailors in one of the world’s leading garment manufacturing hubs. Indochino offers these small manufacturers sustainable business opportunities and increased profit margins while providing a convenient way for customers around the world to order high quality, custom made suits via the Web.
Local internet entrepreneur and investor Boris Wertz (W Media Ventures) was an early backer of Indochino who introduced the company to Burda Digital Ventures. Mr. Wertz said, “Over the past two years, Indochino has seen steady growth and has laid the foundation for their operations in China. Now with the backing of a team of investors with expertise in the online retail space, Indochino is well positioned for global success.”
In a recent research report, Forrester group noted that the online sale of apparel is the largest revenue generating online retail category with $22.1 billion worth of apparel sold online in 2007 topping the online sale of computers at $17.2 billion.
About Indochino
Indochino provides custom tailored, premium quality suits in the latest styles - backed by superior customer service and fast delivery times. As a leader in online, custom tailored suits, Indochino meets the fashion needs of busy professionals, hard to fit body types, corporate groups, wedding parties and anyone who wants high quality, custom suits delivered to their door within two weeks. Indochino makes it easy and affordable for customers to get a custom tailored suit for a look that is professional, fashionable and truly sophisticated. www.Indochino.com
About Burda Digital Ventures
Burda Digital Ventures is the venture capital arm of Hubert Burda Media, one of Germany’s largest media companies. Together with local Internet entrepreneur and investor Boris Wertz (W Media Ventures), Burda Digital Ventures plans to expand its investment activities in the Pacific North West and Alberta by focusing on Consumer Internet opportunities. Current investments in this region include, among others, AbeBooks Inc.,TeamPages, Suite101.com and Nexopia.
Contact Information
Investors and Business Contacts
Kyle Vucko
CEO
Indochino Inc.
Tel: +86 13764299615
kyle@indochino.com
Media Contacts
Joanne Macdonald
Public Relations
Tel: (250) 893-1626
jmacdonald@telus.net
