RYU apparel sees revenue jump 57% in 2016
Vancouver-based athletic brand RYU Apparel Inc. (Respect Your Universe) announced on Thursday a 57 percent increase in revenue for the full year ended December 31, 2016.
Revenue was $1,367,043 in 2016, compared to $869,917 during the year ended December 31, 2015. Meanwhile, gross profit was $627,866 for the year.
"Since relaunching 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,” says Marcello Leone, CEO for RYU, in a news statement.
RYU also saw an increase of online revenue in 2016. Following the re-launch of its e-commerce website, online revenue saw a 33 percent quarterly increase of direct and organic traffic and a 34 percent increase in new visitors. In total last year, online revenue represented 20 percent of retail revenue.
What’s more, both men and women apparel segments were strong with a sales ratio of 49 percent for men and 51 percent for women.
The company expects even stronger sales for 2017 as the brand continues its Canadian expansion. Earlier this week, they opened their third retail location and currently plan to open two others before the end of the year including their first store outside of the province of British-Columbia.
RYU is a tailored technical training brand engineered for the fitness, training and performance of the multi-discipline athlete.
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