RYU Apparel appoints new COO, unveils growth strategy
RYU Apparel shared on Tuesday the appointment of Rob Blair as chief operational officer as it launches a new growth strategy.
Blair, who previously worked with brands such as Red Bull, Lululemon, Gap Body and Nike joined the company in January, and has already been credited with advancing the company's design, merchandising and corporate brand strategy. Moreover, under the leadership of Blair, RYU said it is currently meeting with investors to unveil the beginnings of its growth strategy.
The growth strategy is aimed at helping RYU carve out its own part of the athleisure and athletic apparel market and to reach a goal of $100 million in revenue by 2025. Led by the new brand motto, 'Train, Run, Live', the strategy is focused on being a technology first company built around an integrated digital eco-system. The full plan will be unveiled in the coming months.
"Digital shopping has replaced physical channels at a rate of 10-years' growth in just three months," said Blair. "Yet, statistics show that only 18% of consumers believe brands offer an exceptional customer experience. To me, that's a big opportunity.”
Last month, RYU inked a wholesale distribution agreement with Mexico City-based fashion, athletic apparel and cosmetic distributor Grupo Pavel, and late last year it teamed up with brand partners, such as Canada Skateboard, Zoom Media and Branded Entertainment Inc.
Next, it plans to finalize the brand and product creative direction, further aligning the supply chain and ensuring the company meets its corporate responsibility and sustainability guidelines.
"We believe that our new strategy, combined with this growth capital will benefit our existing shareholders by greatly increasing our universe of potential customers, store partners, investors and shareholders both in the U.S. and internationally,” said Cesare Fazari, chairman and CEO.
“We are moving toward our ultimate vision of building the leading urban apparel brand and as I've stated before, I am committed to the successful achievement of joining the ranks of the Lululemon, Roots, and Canada Goose as a globally recognized Canadian apparel brand."
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