“I can see a similar business model fitting well into MMA for a few reasons,” said Andrew Burns, a Lake Oswego-based analyst with D.A. Davidson who follows Lululemon. “One thing Lulu did exceptionally well is look at yoga as an activity and design specific apparel for that, but also look at yoga as more of a lifestyle. What kind of pants do they wear in class, but also after class.” In the last six fiscal years Lululemon’s sales have grown tremendously, rising from $40.7 million in 2007 to nearly $712 million in 2010 — a compound annual growth rate of 61 percent. Martens is hopeful RYU can tread a similar path. The company’s five-year plan, he said, could put RYU in a similar place to where Lululemon and another upstart athletic apparel brand, Under Armour Inc., were in that stage of their existence. “They were in a range of $150 million to $200 million,” Martens said. “Our (outlook) is a little more conservative. But we think there’s opportunity.”
When company gets rocking I'll get a real kick out of the fact that McBalls and Joel will be known as the guys that poo-pooed this deal everyday from the beginning without hesitation or pause based on lazy analysis. -henry
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