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YOUNG ENTREPRENEUR HAS BIG PLANS FOR RYKA LINE
Published August 25, 1995
Michael Rubin, the 23-year old founder of KPR Sports, which recently purchased Ryka, is interviewed in the current SPORTING GOODS BUSINESS. Rubin speaks of his plans for the women's footwear company and why the "cash-strapped" show-maker appealed to him. Rubin says he believes "the equity in the Ryka brand name far outweighs the volume of the brand currently." An immediate goal is to get Ryka "under financial control," with Steven Wolf of Ellesse having been hired as the company's CFO. On plans for the Ryka line: "We discontinued the outdoor category immediately. I don't think it's a category that is really what Ryka's image and heritage is all about. ... We are going to enter the running business for spring '97, which we believe fits very well into Ryka's philosophy." Within six months to a year, Rubin predicts the signing of a "strong licensee which we can have a lot of control over or we'll start to do apparel slowly." Rubin expressed the hope that Ryka will be able to show the growth "that an Avia had five years ago" (SGB, 8/95 issue).