PORTLAND, Ore., Feb. 28, 2014 /PRNewswire/ -- 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
On Behalf of the Board
RESPECT YOUR UNIVERSE, INC.
/s/ Craig Brod
Craig Brod
CEO and Director
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.
818 North Russell
Street
Portland, OR
97227
Tel: +1 877 798 8326
Website: www.ryu.com
SOURCE Respect Your Universe, Inc.