SOURCE: Respect Your Universe, Inc.
PORTLAND, OR--(Marketwire - Sep 11, 2012) - The following is a memo from the Respect Your Universe, Inc. (TSX VENTURE: RYU) (OTCBB: RYUN), http://www.ryu.com/, Chief Executive Officer to Stockholders.
To all RYU shareholders,
After 4 weeks on the ground, including a week at the Spring 13 Magic show in Las Vegas, I wanted to reach out to all of you and tell you how excited I am to be here leading RYU. I truly believe RYU has the potential to be the next iconic brand in the apparel industry. The story of Respect, Strength, Honor, and Sustainability resonates on a global level. I believe more now than ever we have something special.
It is important that we build a 5 year strategy that is achievable, putting a structure together that allows us to build great product, tell a great story, service the business, and build a great team. We must however, put first things first, and walk before we run.
You can trust that I am a highly disciplined executive who will put the right processes and accountabilities in place that will deliver the results you expect and deserve.
During the next 100 days we intend to focus on the following key priorities.
1. Driving wholesale, e-commerce, and our retail store revenue with our current Fall 12 inventory and securing Spring 13 bookings. It's time to execute.
2. Opening our Las Vegas store in a big way by mid-October. This will be a laboratory in developing the RYU secret sauce (ala Lululemon).
3. Focusing our assortment using the "80/20 rule." At this stage of development you will find that 20% of your inventory will drive 80% of your sales. We intend to identify the key items, identifying the "hidden gems" in our current men's and women's line. We than anticipate making big things happen with the right inventory investment, demand forecasting, presentation and marketing support.
As we move past this critical time frame, we anticipate our strategic 5 year plan will be completed. We intend to continue to invest in the business, and raise the capital to operate the way I believe we can and hire the right talent. A great strategy must have the right talent to execute and deliver the results.
I take your investment seriously and would like to conclude with what I have always believed. Companies that win are the companies that communicate the best.
Chairman & CEO RYU
Respect Your Universe
This shareholder letter contains certain forward-looking statements regarding the Company's short and long-term business strategy. These forward-looking statements are based on current information and expectations, and are subject to risks and uncertainties discussed in our filings with the Securities and Exchange Commission and Canadian securities commissions, which could cause the Company's actual results to differ materially from expected results. Unless required by applicable law, we undertake no obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.