Private equity firm NPM Capital has strengthened its participation in Suitsupply by providing further growth capital. At the end of 2017, NPM Capital invested a first tranche, which allowed Suitsupply to open 25 stores and grow the organization.
Commercially, the company is developing well. Global sales have grown, particularly in the US and Asia. The Suistudio women’s line has been expanded with stores in Milan, Shanghai, Frankfurt and New York. Furthermore, Suitsupply is capitalizing on the casualization trend by offering more clothes that can be worn with a suit or a jacket. Digital development remains a spearhead, with an increasing symbiosis between the physical stores and the webshop. An example is the digital fitting room, where customers decide online what items should be ready for them in a fitting room.
The second tranche of growth capital that NPM Capital has provided will be used for the further development of the omnichannel retail concept, the conversion and restyling of existing stores and the opening of new stores, with a focus on China.
Read more NPM invests in Suitsupply’s growth