RYU Apparel Inc., a tailored technical urban athletic apparel brand engaged in the development, marketing and distribution of apparels, has reported an encouraging financial results in the first quarter ended March 31, 2018.
The company is proud to report a ninth consecutive quarter of growth.
The brand reported a whopping 94 per cent increase in revenue from US $ 467,003 in the corresponding period last year to US $ 907,915 this year. It plans to have eight stores by the end of 2018 and to attain 100 per cent year over year growth in retail business.
During the quarter under review, RYU Apparels further reported a 50 per cent growth in e-commerce revenue as compared to the same period last fiscal due to 57 per cent growth in traffic on ryu.com.
Also, the construction work of retail store in Brooklyn, New York, started in the reporting quarter while lease secured for its second and third US store locations in the state of California. The three under construction stores are likely to become operational in the third quarter of 2018.
The retailer also teamed up with THRSXTY/Exposure, a marketing services agency based in London, Tokyo, New York, and Paris, specialising in fashion, retail and lifestyle brands, as its new global Agency of Record for creative strategy and marketing services.
The RYU team is working hard to execute its business plan with the recent influx of capital.
