Indochino aims to reach its target demographic through a partnership with Postmedia
The media company is officially in Indochino’s (rather lush) pockets
Postmedia and Vancouver-based men’s apparel retailer Indochino are joining forces, with the former granting some $40 million in “media dollars” to the latter in exchange for a share of its revenue. Before journalists get too amped up about the idea of a currency dedicated to their profession, it should be noted that the term likely refers to advertising.
Vancouver Sun and Province publisher Postmedia will promote Indochino’s “premium custom suits and shirts in the form of print, digital and native advertising,” the deal announcement says. In addition to a slice of revenue, Postmedia will have the option to buy the private company’s stock at whatever the rate is at the time.
“We believe it’s a perfect fit,” Postmedia president and COO Andrew MacLeod said in a statement that is surely the funniest thing ever attributed to him.
Indochino is hoping to reach its core demographic with the deal, given that 57 per cent of Canada’s C-suite executives in the top six markets and 3.5 million millennials across the country access Postmedia’s content weekly, according to the announcement.
Indochino has eight showrooms in Canada.