VANCOUVER, British Columbia,
July 2, 2014 /PRNewswire/ -- Respect Your Universe, Inc. (TSX
VENTURE: RYU) (OTCQB: RYUND) ("RYU"), an athletic
lifestyle apparel brand designed for all disciplines of
movement, is pleased to provide a business update to its
shareholders.
Business Highlights:
- Selection of Marcello Leone as
President, a fashion retail visionary with an entrepreneurial
passion about consumer brands and global distribution and
reach
- Appointment of Marcello Leone,
Maria Leone and Peter Ying Pan as Directors
- Relocation of corporate headquarters to Vancouver, British Columbia
- Re-focusing business strategy back to spirit of martial arts
lifestyle performance apparel
- Engagement of Darrell Kopke and
Institute B as a strategic advisor; principals of Institute B have
helped shape the cultural foundations of Starbucks, Ikea and
lululemon athletica
- Hiring of Alex Briglio as VP
Sales and Marketing and access to North American National Swany
sales agent team; Alex has built the number one performance winter
sport accessory brands in North
America
- In process of opening a Vancouver flagship retail store in prime
location
- In process renovation and re-launch of Seattle retail location with Richard Altuna design, and mirror technology;
targeting store opening August 1,
2014
- In process of building strong social media platform in order to
drive revenue growth and clearly establish our cultural
identity
- Redefined the distribution channel to address global shipping
for web orders in U.S. and Canada,
to avoid double duties for Canadian clients and international
demand; gained access to distribution center in China and reduced costs associated with the
logistical distribution centers
- Implementation of full quality control of all products prior to
shipping in North America;
professional quality control provided by China Rich Garments
Additionally, at RYU's annual general meeting held on
June 26, 2014, Craig Brod was not re-elected to the Board of
Directors.
Marcello Leone, RYU's President,
stated, "We believe we are taking the desired strategic
changes to better position RYU for growth and reward
shareholders. It begins with people and we have recently added
management, Directors, sales people and strategic advisors with
extraordinary backgrounds in retail and/or apparel. This human
capital upgrade, combined with our recently closed
$3.44 million private placement
financing and our re-focus to get back to our roots will
enable us to prove our product and branding are superior and
valued by consumers. These are important steps as we begin to
enter the re-positioning and growth phase for RYU."
About RYU
Respect Your Universe, Inc. is a performance apparel brand
designed for 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, visit www.ryu.com.
On Behalf of the Board
RESPECT YOUR UNIVERSE, INC.
Marcello Leone,
President and Director
Forward-Looking Statements
Statements regarding opening a Vancouver store, re-launching the Seattle store, and the impact of the changes
to the RYU's distribution channel 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, 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.