Brand known for its athleisure is permanently closing its only Toronto store
The only Toronto location of a Vancouver-based brand for athleisure wear opened just around five years ago, but now it's closing down permanently here and in other locations.
RYU, short for Respect Your Universe, announced in a press release that they would be closing both their Toronto and New York City stores soon.
The flagship location in Vancouver will remain open. The brand was known for apparel and accessories like backpacks and duffel bags that were designed to transition from the gym to the street seamlessly while maximizing performance ability.
The company is expecting their e-commerce revenue and average order value "to double and triple in growth." They also launched a printed catalogue program in November 2021 that they're expecting to help increase online sales.
As for brick and mortars, they're hoping to focus more on a shop-in-shop presence especially in the United States.
"The closing of these stores is made more difficult by the loss of excellent team members," says COO Rob Blair.
"Our strategy as a digital-first company is expected to maximize the performance of our capital."
The Toronto location of RYU should be closing on Mar. 27.
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