Sydney menswear startup InStitchu raises $3 million in strategic funding from suit manufacturer Dayang Group

Sydney-founded custom menswear startup InStitchu has raised $3 million in a strategic investment from suit manufacturer Dayang Group that will see Dayang become the startup’s production partner.

Founded by Wakefield and Robin McGowan in 2012, InStitchu in 2014 raised $2 million from fund management firm Aura Group. The fresh funding will go towards furthering InStitchu’s global rollout of its showrooms, with 15 locations in the  and enhancing the in-store and online experience for customers.

James Wakefield, cofounder and co-CEO of InStitchu, said the support from Dayang will increase the startup’s efficiencies across production and operations cycles, allowing it to be “even more customer-centric”.

“The Dayang team share our vision that the future of menswear is made-to-measure, and in the belief that a meticulously crafted suit should be affordable,” he said.

“Their expertise coupled with our top-notch product and focus on retail expansion, will allow us to bring InStitchu into the hands of even more customers.”

McGowan added, “We share a similar philosophy that men want more from their shopping experience, and strongly believe that an equally appealing online and offline approach is the key to long-term, sustainable growth. Working with our new partners, we’ll be able to help more men around the world dress better, look better, and feel better.”

Allowing men to design custom tailored suits and shirts online and in-store, InStitchu last year opened its first bricks and mortar store in New York City and grew its team to 60 employees globally, reporting growth of 114 percent year on year. Read more

Gina Baldassarre - Startup Daily - 27 Feb 2018