RYU continues remarkable rise
30/05/2018
For the three months to March 31, RYU has reported revenue of Can$907,915 ($700,000), an increase of 94% compared to the same period of last year.
"We started the year with exciting developments on all fronts of the business and we are pleased that first quarter results are consistent with our 2018 retail revenue target of 100% year-on-year growth," said Marcello Leone, CEO of RYU. "This is our ninth consecutive quarter of growth and we are especially proud, given that the first quarter in our industry is the slowest.”
The brand’s e-commerce revenue was 50% higher than in the first quarter of 2017.
RYU has said it is on track to have eight stores by the end of 2018. It has already begun construction planning at its retail store in Brooklyn, New York and has secured leases for two more stores in California.
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