RYU Reports Solid Web And Store Sales Growth And Opportunities For Expansion
PORTLAND, Ore., Oct. 31, 2013 /PRNewswire/ -- RESPECT YOUR UNIVERSE, INC. [RYU] (TSX VENTURE: RYU) (OTCQB: RYUN) reported solid sales growth for September, 2013. RYU.com sales increased approximately 40 percent over September, 2012- $16,400 in 2012, $22,800, in 2013. In other web sales, RYU held a sale on selected women's items on HauteLook, a Nordstrom owned website, in September beating the peer average for first time sales, and has been invited back for a second sale that begins in November. RYU's men's apparel sales on HauteLook in August, 2013 generated a 140% increase over last years sales-$7,200 in 2012, $17,000 in 2013. RYU has partnered with theClymb.com, an outdoor sales site, to sell our women's apparel. Starting today, $1,200 of women's product has been sold in the first two hours of the event.
On the retail brick and mortar front, our Las Vegas store had a successful move to a new location within the Palazzo shops. It is currently generating strong sales. Additionally, RYU has recently partnered with Loehmanns to sell its women's products in a ten store test in selected locations on the East Coast.
Internationally, RYU has been asked to partner with two premiere European department stores, Brown Thomas and Selfridges to develop and implement its store-within-a store concept. This project is currently underway, and looks to launch in Q2 of 2014.
"The sales strategies that we are pursuing are driving strong sales growth, and we are excited for future opportunities with these leaders in retail" said Aditi Sood, Manager of Sales and Marketing. "This strategy is starting to have a significant impact on reducing inventory, as over 7000 units have been sold in the last 90 days," noted Sood.
For more information on RYU, visit www.ryu.com.
RYU is a vertically integrated, active lifestyle apparel brand focused on the needs of individuals and athletes alike. The men's and women's performance and active wear lines are specially designed for people who love to move, feel comfortable and look great. Crafted from organic and/or recycled materials, our products are also designed to help nurture the environment.
On Behalf of the Board
RESPECT YOUR UNIVERSE, INC.
/s/ Craig Brod
CEO and Director
Statements regarding future growth, growth strategy, and the anticipated launch of RYU's partnership with Brown Thomas and Selfridges are forward-looking statements, which are subject to risks and uncertainties that may cause the actual results, performance or achievements of RYU to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others: an economic downturn or economic uncertainty in RYU's key markets; increasing product costs and decreasing selling prices; adverse changes with respect to consumer preferences; inability to develop and introduce new products; inability to manage its growth and the increased complexity of its business; fluctuating costs of raw materials; RYU's highly competitive market and increasing competition; inability to successfully open new store locations in a timely manner; and inability to increase and maintain the value and reputation of its brand. Except as required by law, RYU undertakes no responsibility to update any of the statements contained in this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Respect Your Universe, Inc.