Indochina Raises $13M for Custom Online Menswear Shop

Money Sign

It costs money to look good, and Indochina just got a bundle, raising $13 million in a Series B round led by the Highland Consumer Fund with participation by existing investors Madrona Venture Group, Acton Capital Partners, and Jeff Mallett , Indochino Chairman and former president and COO of Yahoo!.

Tom Stemberg of the Highland Consumer Fund will join the company’s board. Stemberg is the founder of Staples and sits on the board of a broad set of retailers from lululemon athletica to PetSmart.

“Most men need all the help they can get when shopping for their own wardrobe,” says Tom Stemberg, Managing General Partner of Highland Consumer Fund. “By providing higher quality custom menswear at a lower cost, Indochino has revolutionized the direct-to-consumer business and become a global presence in custom menswear.”

Indochina is an online menswear shop that specializes in custom clothing. Shoppers choose from a selection of suits, shirts, outerwear and accessories, select a style for each with customizable options such as linings, trim, and monograms. Each measurement profile is customizable at every level. The suit is then assembled and delivered to the buyer’s home within 35 hours.

The company claims it can offer high quality clothing at a reasonable price by cutting out the middleman at the tailor shop while still providing a speedy service. The company will invest this latest round in building out its management team as well as its marketing and development departments.

“Over the past several years we have seen incredible growth in the world of online to offline fashion,” said Kyle Vucko, CEO and co-founder, Indochino. “Consumers are accustomed to the convenience of online shopping, but want something more personal.”

With this round of funding, the company announced the launch of a pop up “travelling tailor” store in Boston where shoppers can be measured in person.

The online mens shopping sector has gotten a good deal of investment heat lately. Online men’s clothing retailer Bonobos raised $16.4 million last year.