VANCOUVER, BC, Jan. 28, 2021 /PRNewswire/ - RYU Apparel Inc. (TSXV: RYU) (OTCQB: RYPPF) (FWB: RYA) ("RYU" or the "Company"), a creator of award-winning urban athletic apparel, is pleased to welcome Rob Blair as its new Chief Operational Officer (COO).
Mr. Blair brings nearly two decades of experience building high-growth iconic apparel and sportswear brands. As an industry expert in design, merchandizing and corporate brand strategy, Mr. Blair has worked with iconic athletic apparel brands Red Bull, Lululemon (NASDAQ: LULU), Gap Body (NYSE: GPS) and Nike (NYSE: NKE).
Career highlights include:
- Mr. Blair was the visionary architect behind the Lululemon men's business, refocusing the strategy to address the needs of the modern male consumer, and creator of the ABC pant, a now iconic style and franchise program that sells more than 1M units annually and delivers 25% of the men's business and a significant portion of the company's annual revenue.
- As a result of Mr. Blairs product innovation strategy and leadership, Lululemon's Men's division resulted in 73% margins and today continues to deliver multi-year double-digit growth
- Executed a full re-brand strategy to address the needs of the modern male consumer, achieving a 200% increase in growth while working with performance denim brand DUER.
- Expanded a $100 million portfolio at Nike Lab, achieving double digit growth, including over 40% comparative growth and 60% margin growth
- Operationalized the Nike Lab apparel business model to support Nike innovation and category amplification, building a $100 million product portfolio and while delivering double digit growth.
- Led the GAP BODY and GAP Fit division, a $240M Growth driver for the GAP brand.
Mr. Blair commented, "I'm excited to join the talented and hardworking RYU team. The company has an incredible heritage of high-end performance products, sport-style innovation and a clear message of respect. 2020 was a difficult year for many businesses due to the pandemic. However, there are very positive tailwinds and market momentum in ecommerce, athletic and athleisure apparel, and RYU is an award-winning brand with great potential. Together, I am confident, we can grow the business into a significant player in the athletic apparel segment."
RYU CEO Cesare Fazari stated: "Mr. Blair is a transformative thinker with a sharp eye for trend and a long history of executing high-growth strategies. It is an incredibly exciting announcement for RYU to welcome him to the team. Heading into 2021, his experience will complement and empower the RYU team as we move to deliver on our strategic plans, which includes Canada Skateboard, Zoom Media, European distribution, product placement in BEI's new series, "The Count" and RYU.com's new ecommerce store."
About RYU Apparel
RYU Apparel (TSXV: RYU,OTCQB: RYPPF, FWB: RYAA), or Respect Your Universe, is an award winning urban athletic apparel and accessories brand engineered for the fitness, performance and lifestyle of the athletic man and woman. Designed without compromise for fit, comfort, and durability, RYU exists to facilitate optimal human performance. For more information, please visit the RYU website at: http://ryu.com.
Forward Looking Statements Disclaimer
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
This news release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of RYU, such as statements the launching a golf apparel division, booming golf industry, future sales, continued appointment from Rob Blair, expressed in the forward-looking information, including: (i) adverse market conditions, including conditions arising as a result of the COVID-19 pandemic or otherwise; (ii) an inability to renew the RYU brand, implement strategic objectives and regain profitability; (iii) failing to meet target revenue projections as anticipated; (iv) failing to enter into the anticipated consulting arrangement and (v) the inability to complete the planned re-opening of the its store or the piloting of the "RYU Studio" concept. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking statements are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, RYU does not intend to update these forward-looking statements.
SOURCE RYU Apparel Inc.