indochino.com takes new round of financing from Burda Digital

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British Columbia, Startups, Venture Capital

Shanghai (by way of Victoria) based startup, Indochino.com, who we first profiled in September, and who I finally got around to ordering from a few weeks ago, has announced that they have taken a new round of financing from Burda Digital Ventures, a German Venture Capital group who have been very active in Western Canada, getting a lot of deals that Canadian VCs are missing including TeamPages, Suite101.com and Nexopia

Indochino.com is a unique online retailer that specializes in custom-tailored suits, shirts and other apparel based on measurements done by the customer. I ordered a jacket and shirt from them a few weeks ago and I think I got a taste of both ends of the spectrum of ordering online.

The shirt came and right out of the package it was hands down the nicest shirt I have ever bought. The fit was perfect and it looked and felt great. The jacket looked great as well, but a few of the measurements are off. So I printed off their claim form and will take the jacket to a tailor tomorrow. For the price however, the jacket is great.

This round of financing is focused on building the operations back-end as well as scaling up to meet growing demand.

This is a long way from where they were when I first profiled them just 8 months ago and things are looking up. I am looking forward to seeing what they do in the next 8 months with new financing and some more experience behind them.

Comments

7 responses to “indochino.com takes new round of financing from Burda Digital”

April 23, 2008

heri

hmm i thought ecommerce websites don’t get vc funding? and it’s a tailored clothes? isn’t this a “lifestyle” business? or the tailored jackets and the brand just the beginning for something bigger?

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April 23, 2008

heri

hmm i thought ecommerce websites don’t get vc funding? and it’s a tailored clothes? isn’t this a “lifestyle” business? or the tailored jackets and the brand just the beginning for something bigger?

Reply
April 23, 2008

Jevon MacDonald

The difference between a lifestyle business and something fundable isn’t a matter of what the actual product is, it is a matter of approach and scalability.

Indochino is building a custom-clothing fulfillment business that they can scale. If it was just Kyle (the CEO) and a tailor or two, then sure, it would be a lifestyle business. But he is doing a lot more.

This is also the second ecommerce site to get funded in Canada this month.

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April 23, 2008

Jevon MacDonald

The difference between a lifestyle business and something fundable isn’t a matter of what the actual product is, it is a matter of approach and scalability.

Indochino is building a custom-clothing fulfillment business that they can scale. If it was just Kyle (the CEO) and a tailor or two, then sure, it would be a lifestyle business. But he is doing a lot more.

This is also the second ecommerce site to get funded in Canada this month.

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April 23, 2008

Kyle Vucko

Totally right Jevon. We made a decision early to ‘Go Big’ with this company. We got successful angels in the etailing space (CEO/COO/CFO of AbeBooks), and got a first round of financing before incorporating the company back in March of last year.

If the opportunity is there (which we have a bias to think so), you want to get as much of the market before another player comes in, and through the web, you can get access to quite a large market relatively easy!

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April 23, 2008

Kyle Vucko

Totally right Jevon. We made a decision early to ‘Go Big’ with this company. We got successful angels in the etailing space (CEO/COO/CFO of AbeBooks), and got a first round of financing before incorporating the company back in March of last year.

If the opportunity is there (which we have a bias to think so), you want to get as much of the market before another player comes in, and through the web, you can get access to quite a large market relatively easy!

Reply
January 20, 2009

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