RYU Apparel Inc., a tailored technical urban athletic apparel brand engaged in the development, marketing and distribution of apparel, has announced financial results for full year ended December 31, 2016.
During the period under review, the apparel retailer noted a 57 per cent increase in its revenue to US $ 1,367,043 compared to US $ 869,917 during the year ended December 31, 2015.
“Since re-launching RYU in the fourth quarter of 2015, we have had cumulative revenue of $1,612,210 and we are extremely pleased with our 2016 annual revenue performance and our gross profit percentage of 46 percent,” Marcello Leone, CEO of the company was quoted as saying in a news statement.
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RYU Apparel also saw an increase in online revenue in 2016, following the re-launch of its e-commerce website. It expects even stronger sales for 2017 as the brand continues its Canadian expansion.
The company offers tops, bottoms, outwear and a range of accessories for both men and women.
