Men’s fashion retailer Indochino has appointed Drew Green, the founder of Shop.ca, as its new CEO. Green will replace outgoing CEO Kyle Vucko, who will continue as a strategic advisor.
As CEO, Green will lead the Indochino growth strategy, which will include expanding the product catalog and significantly expanding the company’s online and physical retail presence through domestic and international strategic partners.
Indochino’s recent financial results indicate that the expansion comes at a great time. The retailer has already surpassed 2014’s total year sales and is on track for annual sales growth of 40%. Additionally, the retailer experienced a 47% year-over-year growth in suits sold in November 2015, and a 39% increase in new customers acquired.
“After an extensive international search, the Board is thrilled to have an executive of Drew’s caliber leading the company’s growth strategy,” said Scott Jacobson, Chairman of INDOCHINO and Managing Director at Madrona Venture Group. “Drew is a rare blend of entrepreneur and passionate operator, and is unquestionably one of the top e-Commerce and retail executives in North America. Drew brings a proven ability to create and grow shareholder value, and we are confident in his bold vision for building Indochino into a global brand.”
Green comes to Indochino from Shop.ca, the Canadian online marketplace he founded in 2009. Green was that company’s CEO and Chairman, and still remains a director and the majority shareholder there. Previously, Green held executive positions at Flonetwork, DoubleClick and Shop.com.