RYU Apparel Inc. appointed Cesare Fazari as chairman of the board and CEO. As part of this reorganization, Marcello Leone has resigned as executive chairman and director and Martino Ciambrelli has also resigned as director of the company.
“I would like to thank Mr. Leone and Mr. Ciambrelli on behalf of the Management team and Board for their contributions over the past five years,” said Fazari. “Mr. Leone, as CEO of RYU, was instrumental in the creation and launch of the RYU brand and establishing RYU as an award-winning Urban Athletic Apparel and accessories brand engineered for fitness, performance and lifestyle. RYU is widely recognized for fit, comfort and durability by both male and female consumers.”
“In the weeks ahead I will be providing our shareholders and other stakeholders with a significant update on the strategic direction and financing efforts of the company, I would also like to thank our shareholders and employees for their continued support.”
RYU (Respect Your Universe) is an athletic apparel maker. Its business model over the past five years has been a hybrid of physical retail storefronts and e-commerce. Under Fazari’s leadership, RYU will evolve its business model to focus primarily on online sales in addition to key retail locations in major markets including Vancouver, Toronto, New York and Southern California.
Fazari is a significant investor in RYU. He has a long history of successful business activities in real estate, health care, biotechnology and financial technology, along with significant investments as a venture capital investor in numerous private and public emerging companies.
Photo courtesy RYU/Brooklyn, NY