Respect Your Universe –[stock_quote symbol=”RYU.V”]– is a company that has screwed up twice, and twice seen management booted out. The first group were well meaning MMA freaks. The second recognized that athletic wear had a bigger audience but spent too much money getting there.
Version 3.0 features Marcello Leone, a Vancouver retail fashion veteran from an esteemed clan with three decades in the business and more contacts than you could list on an MMA fighter’s back tattoo.
The company just raised $4.8m. He brought in $800k of that from his own chequebook. September is when this brand rebrands, relaunches and goes head to head with Lululemon and Under Armour.
I’ve seen their plan and seen their facility and I’m big on their chances. For real.
As, it appears, are others. Stock has jumped from $0.30 to $0.45 in a week.
Private placement participants are licking their lips, having grabbed at that $0.30 paper. Warrants kick in soon.
Does. Not. Suck.