RYU Apparel posts 57 percent jump in annual revenue

After re-launching the brand in November 2015, RYU Apparel said that revenue for the year ended December 31, 2016 was 1,367,043 Canadian dollars (1,024,961 dollars), a 57 percent jump over 869,917 Canadian dollars (652,263 dollars) at the end of December 31, 2015. The company also generated a positive 46 percent gross profit percentage during the year marking its fifth consecutive quarter of revenue growth since re-launch.

“We anticipate stronger sales moving forward as we proceed with our Park Royal store opening this week and towards opening one additional store location in Vancouver and our first store location in Toronto by mid-2017,” said Marcello Leone, CEO for RYU in a media statement.

RYU reports 34 percent rise in ecommerce shoppers

During 2016 the company’s online revenue as a percentage of retail revenue represented 20 percent for the year ended December 31, 2016. After the brand re-launch RYU increased the ease of navigation and shopability of its e-commerce site leading to a 33 percent quarterly increase of direct and organic traffic and growth in new visitors of 34 percent.

During the year, the company announced new business relationships with Vancouver‐based fitness brand YYoga and with the Vancouver Canucks NHL hockey team and collaborated with Goop, a lifestyle website curated by celebrity actress Gwyneth Paltrow.

The company added that it retail store expansion plan is on target and it aims to have five new stores by the end of 2017. It currently operates three stores and two are under construction. In addition to the opening of Park Royal South, the first half of 2017 will see the opening of RYU’s first Toronto store on Queen Street West, and its first enclosed mall location at Metrotown in Vancouver.

Picture:Facebook/RYU Apparel