RYU partners with Guesst to expand product offering
Vancouver-based athletic brand RYU Apparel Inc. (Respect Your Universe) is teaming up with technology platform Guesst to introduce new complementary brands and product categories to its store offering in the United States.
Guesst’s platform, which provides easy search and live chat functions, will allow RYU to source and connect with new and different direct-to-consumer brands through one convenient system. In addition, the Guesst software will act as a secondary POS for RYU’s U.S. stores and will handle all sales transactions, payments, inventory tracking and reporting.
RYU and Guesst are expected to officially launch the activation by the fourth quarter holiday season.
“As a retail company, digitally driven with physical stores, we want to be open to new concepts, new opportunities and forward-looking approaches to the experience," said Massimo Bellini Bressi, director of business development at RYU, in a news statement.
"The digital component of Guesst’s approach is also very intriguing and we definitely look forward to what’s next."
RYU relaunched in November 2015 and has been growing its retail presence across North America ever since. It opened it first U.S. retail store location in August 2018, and now has three stores in the U.S., spread between New York City and southern California, as well as six locations throughout Canada, including four in Vancouver, and two in Toronto.
The Canadian company has previously expressed plans to open on average five stores per year, until the end of 2022 for a total of 29 stores.
The company, lead by president and CEO Marcello Leone, has always believed in creating customized store experiences and business plans for every type of community it serves - a concept equally embraced by fellow Canadian athletic brand Lululemon. The move should see product offerings vary from store to store, across the United States and Canada.
In its most recent quarter, RYU announced a 31 percent revenue increase. Revenue for the second quarter ended June 30, 2019, reached $1.5 million, compared to $1.14 million reported during the same period last year.
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