Respect Your Universe Inc (C-RYU) - Shareholders Letter
Respect to open Las Vegas store by mid-October
2012-09-11 06:39 PT - Shareholders Letter
Shares issued 48,322,128
RYU Close 2012-09-10 C$ 0.75
Mr. David Campisi reports
CEO SHAREHOLDER MEMO SEPTEMBER 2012
The following is a memo from the Respect Your Universe Inc. chief executive officer to stockholders.
To all RYU shareholders,
After four weeks on the ground, including a week at the spring 2013 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, honour and sustainability resonates on a global level. I believe more now than ever we have something special.
It is important that we build a five-year strategy that is achievable, putting a structure together that allows us to build a 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 2012 inventory, and securing spring 2013 bookings. It is 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 (Lululemon).
3. Focusing our assortment using the 80/20 rule. At this stage of development, you will find that 20 per cent of your inventory will drive 80 per cent of your sales. We intend to identify the key items, identifying the hidden gems in our current men's and women's lines. We then 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 five-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 and chief executive officer, RYU
We seek Safe Harbor.