The Amsterdam-based company Suitsupply has raised EUR 300 million in funding from NPM Capital and a consortium of banks including ABN Amro, BNP Paribas, ING and Rabobank. Suitsupply will use the funds for further international expansion and investments in its technology.
The privately-held Suitsupply was founded by Fokke de Jong who still serves as its Chief Executive Officer. It started as online only and opened its first bricks-and-mortar store in 2000, though 30 percent of its revenue is still generated online. Suitsupply currently operates 91 stores in 73 cities on 3 continents, including 32 in North America, a market it entered in 2011.
Private equity firm NPM Capital considers Suitsupply to be one of the diamonds of Dutch entrepreneurship. Through its unique business model and disruptive approach, the company has realized incredible expansion in recent years. The model has been proven in various geographies and is very scalable. Through its strong position in the value chain, its well-developed omnichannel sales proposition, and its focus on the US and Asia, Suitsupply is regarded as having significant potential for further growth.