Dive Brief:

• Following its Black Friday and Cyber Monday sales bump, custom suit company Indochino said it reached a seven-figure EBITDA last year, the company announced on Thursday. Though the company did not disclose exact figures, it said it increased its revenue by 40% compared to 2021.
• Its net orders from its brick-and-mortar stores jumped by 50%. On the e-commerce side, the company also saw double-digit order growth, according to the announcement.
• The company did not provide specific figures for its Black Friday weekend sales, but said that sales across its online and in-store operations grew “significantly.”

Dive Insight:

Though the private company is not obligated to disclose exact figures, it appears that its efforts to offer more products and expand its physical presence have paid off.

In June 2021, the company announced plans to open 21 shop-in-shops in Nordstrom locations across the country. And last August, it unveiled its women’s suiting business with custom suits starting at $449.

The company previously highlighted its Black Friday and Cyber Monday success in early December 2022. The company said last year’s Black Friday weekend sales rose 36% year over year, according to a company press release. Its e-commerce business also surpassed previous projections by 23%.

In its announcement, Indochino also touted the success of its wedding business and sports partnerships. The brand previously dressed NBA draft picks and star players, including Keegan Murray, Jeremy Sochan and Chris Paul. It also partnered with the Los Angeles Rams for a year-long deal last year, per the announcement.

“Smart growth and innovation are core to Indochino’s DNA, and 2022 was an exceptional year for the business in both of these regards. Our focus on profitability and operating efficiency, while simultaneously investing in an industry-leading omnichannel customer experience, has put the business in a strong position for continued success,” Indochino CEO Drew Green said in a statement. “We look forward to continuing this momentum into 2023, as we debut our Spring collection and look to build upon the success of womenswear with a full omnichannel launch.”