RYU revenue surges 67% in FY18

Fourth quarter revenue was posted at $1,773,589 compared with $1,166,126 in the same period in fiscal 2017. Revenue jumped 52 per cent as it included sales from new retail locations. The company opened the quarter with six versus five retail stores, while one more opened exactly at the middle of the quarter and the eight overall location opened for just a couple of weeks before the conclusion of the quarter. Growth in e-commerce sales was constant.

During the year ended December 31, 2018, e-commerce revenue represented 14 per cent of total revenue and the efforts yielded a 42 per cent growth in e-commerce revenue against the year ended December 31, 2017. 

The company also continued to expand its revenues through strategic partnerships with key wholesale accounts that bring high value proposition, such as Nordstrom, Equinox gyms, Rise by We (WeWork) and Steve Nash Fitness Clubs.

"We are delighted with this quarter and yearly results and the constant progress we are making in our strategic plan," said Marcello Leone, CEO. "Moving forward, RYU remains focused and we have a solid execution plan in place to position the brand for success. As creators of Urban Athletic Apparel, we are growing day after day and we are thrilled about our next steps." (RR)

Fibre2Fashion News Desk – India