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InStitchu’s $3 Million Backing from World’s Largest Suit Manufacturer
Custom suit label InStitchu has received a $3 million strategic investment from Dayang Group, the world’s largest suit manufacturer to help it boost its customer offering significantly.
Its new financial boost means that InStitchu will be better placed to enhance its online and in-store customer experience, serve its loyal customer base in new and innovative ways and continue its global showroom rollout in 15 locations worldwide.
The $3 million strategic investment from Dayang Group comes after a big 2017 for InStitchu, with the opening of its first US storefront in New York City showing 114 percent year-on-year growth, which has seen its staff numbers triple.
With cutting-edge technology underpinning all aspects of the customer experience from fit through to purchase, InStitchu is doubling down on an even more seamless user experience across its website, backend infrastructure, and supplier integrations with an in-house development team.
As part of the minority investment, Dayang will become a production partner for InStitchu, lending its decades of expertise and quality to further support InStitchu’s growth and expansion.
“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,” says James Wakefield, co-founder and co-chief executive of InStitchu.
“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.”
Founded by Sydney-based entrepreneurs Robin McGowan and James Wakefield in 2012, InStitchu was created to remove the pain points experienced in menswear shopping, including the lack of convenient, custom, tailored options at an accessible price point. The menswear retailer currently has showrooms in Sydney, North Sydney, Melbourne, Brisbane, Canberra, Auckland and New York City.
The fashion label allows men to design their own custom, tailored suits and shirts, in-person or online, enabling them to choose from hundreds of premium natural fibers including Woolmark Certified Australian Merino wool, linen, cashmere, cotton and mohair.
“Dayang has been an innovator in menswear for years. 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,’ says Robin McGowan, co-founder and co-CEO, InStitchu.
“InStitchu has achieved great success building an incredible brand, a beautiful shopping experience, and a loyal customer base of fans all around the world,” adds Dongmei Hu, CEO of Dayang Group.
“We’re looking forward to working closely with James, Robin, and the team to help InStitchu create a menswear experience custom-built for the 21st century.”