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Canadian brand RYU enters phase 2 of growth: CEO

20
May '19
Pic: RYU Apparel
Pic: RYU Apparel
Respect Your Universe (RYU), a Vancouver-based innovative performance brand for athletic apparel, has entered phase 2 (2019-2020) stage of its growth that will see the brand mature and maximise its full retail potential and ensure all systems are functioning properly in existing locations before looking for new markets, according to its president Marcello Leone.

In a letter to shareholders recently, Leone, who is also the chief executive officer (CEO), said the company intends to add two more locations in the next few months in California.

The first phase of ‘investment’ stage was accomplished by the end of 2018, which consisted of setting the foundation by investing in human capital, laying the infrastructure frameworks for e-commerce and retail stores and in those intangible factors to build the brand, such as brand awareness community events, retail experiences and public relations efforts, he wrote.

Over the last three years, consumer expectations have accelerated, retail has scaled vertically, and the globalization of trade has transformed the retail environment, he said.

RYU's business model takes full advantage of all of these disruptors and intends to step change in the performance apparel category, he said.

The company now has brick & mortar presence in nine locations: in Vancouver, Toronto, New York City, Venice–Los Angeles and Newport Beach.

The third phase, ‘accelerate & lead’, will start in 2021 and will focus on growth and acceleration, he added. (DS)

Fibre2Fashion News Desk – India


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