PORTLAND, Ore., Feb. 28, 2014 - Respect Your Universe, Inc. ("RYU") - TSXV: RYU; OTCQB:
RYUN has made significant strides in implementing its strategic plans
announced in December of 2013. This is made possible by a dedicated team
of people who have participated in moving the company forward to
clearly defined ends.
RYU intends to open a flagship store in its Westlake, Seattle location in approximately six weeks. This store replaces the existing temporary one and is designed by architect Richard Altuna.
Mr. Altuna is an internationally known retail architect. RYU has value
engineered the build-out of its store, reducing original cost estimates
by approximately 40 percent while keeping the integrity of the interior
design.
Westlake Center is owned by General Growth Properties, Inc.
which is among the largest owner of malls in the United States.
It is also home to ZARA, a highly successful global retailer, which has
recently opened an over 30,000 square foot store in the center. Since
Zara's opening, our store, which is located nearby, has seen its sales
rise by over 20 percent.
Leasing
agents for Simeon Property Group, Inc., a global Real Estate Investment
Trust, have been so impressed with RYU's new directions in apparel
design and merchandise as featured in our temporary store in Westlake, that they have recently visited company headquarters to offer RYU additional sites in other malls.
"We believe that this will be a turning point in the company's history," stated Craig Brod,
Chief Executive Officer, "and recognition that our new merchandise
direction is beginning to capture the attention of professionals in
retail leasing."
RYU is actively seeking additional mall sites for expansion in the next 30 days. Furthermore, RYU will close its Las Vegas store at the end of February, focus on the West Coast, and re-open in Las Vegas when a prime, permanent location becomes available.
RYU has also been working closely with the founder of Gesaky Interactive Mirror, Mr. Alan Kearney,
to ensure a new shopping experience for RYU's retail customers. This
new technology is intended to allow customers to view themselves dressed
in a new RYU piece, and instantaneously see and source outfits and
accessories off the mirror. The items can, in turn, be seamlessly loaded
on to a customers' smartphone for later viewing, and purchasing. The
Interactive Mirror is anticipated to be installed at the proposed Westlake store shortly after opening, and is anticipated to forms a key part of RYU's retail Omni-Strategy.
RYU's
web strategy is unfolding in three phases. Phase one includes the
upgrade of the site and is underway. We anticipate that it will be
launched in the next 5-7 days. This launch will include the beginning of
a shift in images, content, and product to attract more female
customers. Customers will be able to see selections of our Spring
product---chalk full of new styles and bright colors. This site is being
constructed so that it can easily be upgraded on a regular bi-monthly
basis to help ensure engagement and a more exciting feel. Through
continual newness we intend to answer one of the most important
questions asked by customers who like to shop, "what's new?"
Phase
two, which runs parallel to phase one, includes hiring a Digital
Marketing Manager to manage the digital function with an eye to driving
brand identity and sales increases targeted at 25-30 percent annually.
This Digital Marketing Manager is anticipated to be hired in
approximately two weeks and will lead a behavioral marketing strategy
targeted at significantly increasing our customer base.
Phase three will be launched in approximately two months and will include new images, models, and settings from key cities like Los Angeles,
and mobile applications that make shopping from a smartphone easy and
fun. "The company intends to make a major push into expanding its online
and mobile business including digital media. Several projects are in
the works, and news about their content and timing is anticipated to
follow over the next few weeks," stated Craig Brod, Chief Executive Officer.
Finally,
based on feedback from our customers, we have begun to systematically
re-price selected items to measure the impact of reduced pricing on
sales velocity. So far this has yielded encouraging results, and
suggests that we need to sharpen our discipline in the area of producing
apparel that has higher perceived value for customers.
RYU
is beginning to see positive results now from its strategic initiatives
launched over the last eight months. While these efforts may not
evidence themselves immediately in terms of sales, RYU anticipates
seeing positive sales results over the next two quarters. "To this end,
all team members here at RYU are busy implementing strategies to
increase sales and provide high quality service to customers. We thank
all shareholders for their continued patience and support in our
efforts," stated Chief Executive Officer, Craig Brod.
About RYU
Respect
Your Universe, Inc. is a performance apparel brand designed for both
athletes and active adults. Crafted from organic and/or earth-friendly
materials, RYU apparel enhances movement, is extremely comfortable and
healthy for the environment. Founded in 2008, RYU has incorporated the
lessons learned from mixed martial arts into beautiful everyday
performance wear.
For more information, please visit www.ryu.com
Forward-Looking Statements
Statements regarding RYU intends to open a flagship store in its Westlake, Seattle
location in approximately six weeks, RYU's belief that this will be a
turning point in the company's history, RYU will close its Las Vegas store at the end of February, the Interactive Mirror is anticipated to be installed at Westlake
store shortly after opening, the new website will be launched in the
next 5-7 days, a Digital Marketing Manager is anticipated to be hired in
approximately two weeks, news about new project's content and timing
will follow over the next few weeks, and RYU anticipate seeing positive
sales results over the next two quarter are "forward-looking
statements", which are subject to risks and uncertainties, which 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, that RYU's business
plan is dependent on additional financing, which it may be unable to
obtain on terms acceptable to RYU, RYU may be unable to open any new
stores, changes in general economic or market conditions that could
impact consumer demand for RYU's products, and RYU's ability to execute
on its business plan. Except as required by law, RYU undertakes no
responsibility to update any of the forward-looking 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.
Aucun commentaire:
Enregistrer un commentaire