VANCOUVER, British Columbia, July 16, 2018 (GLOBE NEWSWIRE) -- INDOCHINO, the global leader in made to measure apparel, is thrilled to announce that CEO Drew Green has been named as a finalist in the EY Entrepreneur of the Year Awards program for the Pacific region. The awards celebrate those who drive growth, live outside the box and disrupt with purpose.

“On behalf of everyone at INDOCHINO, our shareholders and partners, I’m humbled and honoured to be named a finalist in these distinguished awards,” said Drew Green, CEO of INDOCHINO, “Over the past three years, we’ve worked tirelessly to transform the business into a globally recognized, profitable brand and great place to work. I couldn’t be prouder of the entire team for their collaborative work, dedication and passion, which has led to our continued growth and success.”

In 2015, Green joined as CEO and Director, crafting a bold vision to put the company on a path to success and redefine INDOCHINO as a global omnichannel apparel business. Over the past three years, he has transformed the company from a niche, digitally native brand into a mass market, leading retailer by building a superior alternative to off the rack, taking market share from all the major suit suppliers. The company has expanded into retail with 28 showrooms across North America, including nine opening since January 2018. Another eight are in development and planned to launch by the end of the year.

Under Green’s tenure, INDOCHINO has tripled in size, achieving 48% compound annual growth between 2015 and 2018. Gross margin improved 1300 basis points in 2017 vs 2015, and is set to reach a 1900 basis point improvement in 2018 vs 2015. 2017 was the first EBITDA positive year in the company's history.

Green is among a highly respected list of finalists in Canada, all of whom were selected after a long and rigorous evaluation process conducted by an independent panel of judges. This recognition was awarded to a select group of Canadian entrepreneurs that have demonstrated integrity, perseverance and an enduring spirit of ingenuity, and are recognized innovators that lead with purpose to drive outstanding performance.

ABOUT INDOCHINO
As the global leader in made to measure apparel, INDOCHINO has developed the shopping experience of the future.

Born out of the belief that you don’t need to spend a fortune on a custom wardrobe, INDOCHINO was the first company to disrupt the retail sector by making perfect-fitting, personalized apparel on a mass scale.

Customers take on the role of designer, picking out every detail of their suits and shirts to make them truly one-of-a-kind. These garments are made to their precise measurements and shipped directly to their door, hassle free. The company’s omnichannel approach allows them to shop online or in person at any INDOCHINO showroom.

ABOUT DREW GREEN
Drew Green is an award winning entrepreneur and expert in managing fast-paced, high-growth companies. A visionary leader, Green has created one of the world's fastest growing apparel brands. Since 2015, he has established up to $90M CDN in strategic capital commitments for INDOCHINO, with less than 27% shareholder dilution via these transactions. Green’s focus, dedication and decisiveness has tripled the size of the company, helped it achieve its first EBITDA positive year in 2017, improving EBITDA by $8 million USD year-over-year. 

Prior to INDOCHINO, Green founded and was Chief Executive Officer of SHOP.CA, Canada’s first multi-merchant marketplace, which is now owned by EMERGE COMMERCE, which he leads as Chairman and major shareholder. EMERGE has successfully combined several ecommerce brands globally over the past two years. Throughout his career, Drew has helped create billions in shareholder value through leadership roles at DoubleClick (acquired by Google), SHOP.COM (acquired by Market America) and Flonetwork (acquired by DoubleClick).

MEDIA INQUIRIES
For all media inquiries, please contact:

INDOCHINO
Sarah Mayer
[email protected]

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/28d5bd2c-d6f8-4c94-9caa-118a2ee0294c