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A young Vancouver company that got its start as an online alternative to bespoke men’s tailoring is charting brick-and-mortar expansion plans in Greater Boston and other metro areas.
Indochino is scouting locations for 18 store openings in 2018, said Corey Bialow, CEO of Needham-based Bialow Real Estate, which is serving as the company’s real estate advisor on the nationwide expansion.
Founded in 2014, Indochino enables men to submit online measurements and order custom-tailored suits, blazers and other apparel at prices designed to undercut traditional tailored clothing shops. After an experiment with “traveling tailor” pop-up stores, Indochino began opening permanent locations in 2014 and now has 19 stores – the company calls them “showrooms” – in the U.S. and Canada, including one at 85 Newbury St.
The first round of openings exceeded the company’s expectations, Bialow said, as Indochino’s “omnichannel” strategy seeks to emulate the success of brands like Warby Parker and Untuckit, which have made the transition from e-commerce to physical stores.
“What (Indochino) found was when they opened the showrooms in a market, their online presence is growing because of brand awareness,” he said. “Now they’re looking at it as a customer acquisition tool.”
The company’s requirements are for 2,500 to 3,500 square foot spaces, primarily in coastal cities with high concentrations of college-educated Millennials. It’s looking at downtown storefronts, lifestyle centers and regional malls, Bialow said. Greater Boston can probably support up to three additional locations, and the Seaport District is a potential destination, he said.
Bialow Real Estate is essentially serving as Indochino’s real estate department, an arrangement that chains have increasingly adopted in recent years to cut costs in the challenging retail environment, Bialow said. His firm also represents the bowling and arcade chain Bowlmor Lanes and vegan fast-casual concept By Chloe, both of which are looking for sites in Greater Boston.
