INDOCHINO Teams Up with Postmedia in a Strategic Marketing Partnership Worth More Than $40 Million in Media Value
VANCOUVER, BC - INDOCHINO, the world's largest made to measure apparel company, today announced a strategic partnership with Postmedia, a Canadian media company representing more than 200 newspaper brands across Canada. Postmedia has committed more than $40M CAD in media dollars in the brand over the next five years. The agreement will help INDOCHINO exponentially grow its market share in Canada by leveraging Postmedia's powerful network reaching almost two thirds of the Canadian adult population.
Under the agreement, Postmedia will promote INDOCHINO's premium custom suits and shirts to its average of 13.4 million monthly unique digital visitors and 8.3 million weekly print readers in the form of print, digital and native advertising. INDOCHINO has eight showrooms in Canada and the Postmedia print and digital properties give INDOCHINO access to key retail markets including Toronto, Ottawa, Vancouver, Calgary and Edmonton, as well as introduce the brand to emerging markets within Canada on a large scale.
"We're proud to be symbiotically aligned with Canada's largest newspaper company, which provides credible sources of news via its digital and print network to two in three adults," said Drew Green, CEO, INDOCHINO. "As part of our 2016-2020 plan, we've boldly sought out strategic alliances to help us achieve our business goals and this mutually beneficial partnership will no doubt have a profound impact on our growth in Canada."
Drew Green continued: "We're boosting our marketing activity to the equivalent of Postmedia's largest advertisers, whilst at the same time lowering one of our largest expenses. Both sides have a vested interest in making the partnership work, which optimizes the chance of success and greatly reduces risk. It's a winning formula and one that I hope will pave the way for similar ventures in other markets."
As part of the agreement, Postmedia will share a portion of INDOCHINO's revenues in the Canadian market with the option to purchase its stock at current prices. This innovative transactional media model creates an alternative revenue stream for Postmedia while INDOCHINO will be able to access the slew of assets Postmedia can provide, including massive reach and digital innovation.
"This is a great opportunity for two companies to leverage each other's strengths in order to grow their businesses," said Andrew MacLeod, President and Chief Operating Officer, Postmedia. "We believe it's a perfect fit."
The partnership, which commenced in February 2017, demonstrates the confidence Postmedia has in INDOCHINO and its position as a unique presence within the apparel market. The agreement is already tracking above revenue performance benchmarks. Canadian Net Orders are up +63% y/y and Net Revenue Growth is +77% y/y and INDOCHINO has been able to optimize Postmedia's strong Canadian media brands for greater efficiency thanks to targeting flexibility within markets, publishers and ad units.
Postmedia's print and digital brands include national and regional newspapers such as the National Post, the Vancouver Sun, the Ottawa Citizen and the Calgary Herald. The company provides INDOCHINO with access to its target customer base, with 57% of Canada's C-Suite business executives in the top six Canadian markets accessing its content on a weekly basis as well as 3,500,000 millennials across Canada.
INDOCHINO (www.indochino.com) has updated the traditional tailoring experience for the modern man. Inspired daily by the belief that men don't need to spend a fortune for custom clothing, the brand creates an elevated experience without the high price tag usually associated with made to measure.
INDOCHINO is the first online company to disrupt the retail sector by delivering mass one-to-one apparel garments for its customers. The company's multi-touch customer experience allows men to order their made to measure clothing online, via mobile or in person at INDOCHINO showrooms.