RYU Apparel said it has appointed Rob Blair as COO. Blair, who previously worked with Red Bull, Lululemon, Gap Body, and Nike, made his mark on the company’s design, merchandising and corporate brand strategy. He joined the company in January.
At Nike, he was global category apparel leader, NikeLab from 2015 to 2016. At Lululemon, he was director, design and head of vision from 2012 to 2013. He was most recently VP of product, consumer products North America at Red Bull.
RYU’s growth strategy, led by its new motto, Train, Run, Live, and with a focus on being a technology-first company built around an integrated digital eco-system, aims to carve out its share of the athleisure and athletic apparel market. Targeting $100 million in revenue by 2025, the plan, which will be unveiled in the coming months, is pillared by product innovations, customer experience, demand creation through content, and end-to-end brand experience.
“Digital shopping has replaced physical channels at a rate of 10-years’ growth in just three months,” stated Blair, “Yet, statistics show that only 18 percent of consumers believe brands offer an exceptional customer experience. To me, that’s a big opportunity.”
In addition to the key team members and brand partners, such as Canada Skateboard, Zoom Media and Branded Entertainment Inc, that onboarded in late 2020, core to its plan, the company has also expanded its operational team to enhance its proficiency in e-commerce, brand and merchandising.
Currently underway is the finalization of the brand and product creative direction, further aligning the supply chain and for the company to meet its corporate responsibility and sustainability guidelines.
RYU also announced the completion of a secured convertible debenture financing with participation by Canaccord Genuity for total gross proceeds of up to $10 million. The debentures will bear interest at 7 percent per annum. Proceeds are expected to be used for general working capital and accounts payable.
Cesare Fazari, chairman and CEO, commented, “We believe that our new strategy, combined with this growth capital will benefit our existing shareholders by greatly increasing our universe of potential customers, store partners, investors and shareholders both in the U.S. and internationally. We are moving toward our ultimate vision of building the leading urban apparel brand and as I’ve stated before, I am committed to the successful achievement of joining the ranks of the Lululemon, Roots, and Canada Goose as a globally recognized Canadian apparel brand.”
Photo courtesy RYU Apparel
