New York-based Mitsui & Co. (U.S.A.), Inc. announced a strategic investment in Indochino Apparel, Inc., a global leader in made-to-measure apparel, selling its products under the brand name, Indochino.
Indochino started out as an online made-to-measure suit retailer, and has expanded its retail touch points that enable customers to order made-to-measure clothing online, via mobile or in person at Indochino showrooms.
Mitsui & Co., Ltd., the parent company of Mitsui U.S.A., identified Retail & Services as one of its group’s areas for strategic growth in the medium-term management plan announced last May. In fashion and textile business, Mitsui has expanded its points of contact with consumers, primarily through brands such as Paul Stuart and Max Mara, and most recently through its investment in Bigi Holdings Co., Ltd., a Japanese apparel company with renowned Japanese brands such as Yoshie Inaba and Papas.
Mitsui also recently announced its Digital Transformation (DT) Strategy. Through the use of digital technology, Mitsui will drive productivity improvement and business model innovations in a wide range of industries.
In pursuing the aforementioned strategies in the fashion and textile business, Mitsui is focusing on investments in Direct-to-Consumer (D2C) digital retailers, such as Indochino, as well as in service providers who provide digitally enhanced solutions (AI, IoT, etc.) to enable retailers to implement DT in their existing businesses.
Mitsui U.S.A.’s investments and strategic collaboration will help Indochino accelerate its North American expansion plans and investments in its global operations and supply chain.