Vancouver-based multi-discipline performance training and fitness brand RYU has substantial growth plans, with a goal of becoming the top brand of its kind in the world. Its first flagship is scheduled to open this fall, and the company has plans for more free-standing locations as well as shop-in-stores. It also plans to see substantial wholesale growth worldwide. We spoke with the company's President and CEO, Marcello Leone, to learn more.
Founded in Portland, Oregon, RYU or 'Respect Your Universe' has origins in the performance and philosophy of martial arts. It is an athletic tech-style apparel brand engineered for the fitness, training and performance of the multi-discipline athlete. In 2011, the son of the founders of Vancouver-based luxury retailer Leone, Marcello Leone, saw potential, and stepped in as an investor. At the time, RYU was struggling -- inefficient logistics, a long supply chain, and an ill-suited Portland lease contributed to RYU financial woes. In 2014, Mr. Leone took leadership of RYU and spearheaded an overhaul which saw its headquarters moved from the United States to Canada, choosing his hometown of Vancouver to be its new corporate address.
As part of RYU's initial revitalization, Mr. Leone raised equity and renegotiated better terms and costs with suppliers and manufacturers, resulting in increased gross margins. He recruited top fashion industry talent, established the 'DNA' of the brand, and developed an enhanced corporate culture with a new long-term vision.
The brand's growth goal is substantial. As mentioned, RYU's intention is to become the world's top multi-discipline performance training and fitness brand, complimenting top category brands such as Lululemon, Under Armour, Nike, Adidas and Reebok. By 2019, it plans to redress one million athletes, with sales forecasts exceeding $100 million.