RYU sees its revenue more than double in 2017
12/04/2018
This is the company’s second year of operations since its relaunch in November and it said it is “encouraged” by its sales record during this period.
RYU’s fourth-quarter results included additional revenue from three new retail stores in its home market.
Its revenue from e-commerce increased 125% year on year in 2018, making up 17% of its total revenue. It is aiming for 35% of its business to come from online platforms by 2021. To this end, it has begun to offer international shipping through its website, which will also be upgraded later in 2018.
From a physical store perspective, RYU will open its first US outlet, in Brooklyn, New York, in the third quarter of 2018. It has also secured the leases for two more stores, in New York City and in Los Angeles.
RYU has said it is on target with its plans to have eight stores by the end of 2018.
Share this story:
