Home Apparel market RYU Apparel Inc. (TSXV: RYU) (OTCQB: RYPPF) Announces

RYU Apparel Inc. (TSXV: RYU) (OTCQB: RYPPF) Announces

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VANCOUVER, BC, June 27, 2022 (GLOBE NEWSWIRE) — RYU Clothing Inc. (TSXV:RYU) (OTCQB:RYPPF) (FWB:RYAA) (“RYU“or the”Company“), an award-winning urban activewear creator that is positioning itself as a market leader with disruptive technologies and blockchain innovations in the apparel, fitness, sports and lifestyle industries, announces today an operational achievement and the company’s roadmap for investors.

RYU CEO and President Cesare Fazari said, “In light of heightened investor attention and inquiries regarding future growth and goals, RYU is pleased to update accordingly. The accomplishments below have already positioned us for what I believe will become explosive growth for the company and lead us into cutting-edge territory with revolutionizing technology and first-to-market experiences for fans, consumers, athletes, etc.
“In addition, we have exciting partnerships that we believe could lead to attractive acquisition opportunities as part of an overall acquisition strategy involving horizontally and vertically integrated candidates.”
Financial success:

  • Revenue for the first quarter of 2022 reached $347,938, compared to $198,825 during the same period last year.
  • In the first quarter of 2022, sales increased by 49% compared to the first quarter of 2021, from $175,243 to $261,319.
  • Gross margin increased from 12% in the first quarter of 2021 to 25% in the first quarter of 2022.
  • Lease obligations decreased with the closure of two retail stores (Toronto, ON and Brooklyn, NY).

Operational achievements

The company launched a three-pronged wholesale strategy targeting off-price, national chains and specialty retailers. March hires DJM Sales Consulting (SAXX Underwear) (to lead global sales) and Caraway & Company (UGG, Prana) (which will act as RYU’s exclusive wholesale representative in the United States), contributed substantially, leading to the company’s first strategic partnership for its premium sportswear with the leading retailer Canadian lifestyle company, Indigo (TSX: IDG).

Additionally, RYU is launching three main wholesale channels to rapidly scale with premium brand partners and volume retail partnerships through traditional retail, clearance retail and delivery partners. direct.

COO Rob Blair says, “Our e-commerce revenue, transaction rate and average order value are expected to grow in the double to triple digits.”

Additionally, RYU has cultivated an exclusive marketing partnership with The Wall Trainer, makers of a zero-footprint total body workout machine that combines Resistance-Technology™ with world-class video workouts, and are in talks to bring the relationship to new heights. .

RYU also has exciting partnerships with NFL Alumni Academy, Canadian National Skateboarding Teamand soon-to-be-announced exclusive apparel partnerships, including a recently struck deal with one of the highest-grossing film franchises in history.

Recent executive hires which have already had a significant impact on overall growth, revenue and overall opportunities include COO Rob Blaira transformative thinker in branding, creative direction, and apparel product design; Financial Director Robert Lelovicsenior financial executive and consultant, and marketing director, Zachary Beersformerly at apparel industry powerhouse Arc’teryx, where he played a pivotal role in expanding the Direct-To-Consumer channel from under $1 million to over $500 million.

In the future

In line with the company’s “digital first” business model, RYU is assertively positioning itself to dominate categories in the Metaverse and Web3 space. COO Rob Blair comments, “With a digital focus for RYU, there is a lot of potential to claim our position in the metaverse. Web3 and its basket of technologies are there and should not be ignored.

“We also recognize the pent-up demand for physical community experiences based on the last 2 years of pandemic restrictions. RYU is uniquely positioned to leverage our motion-based storytelling to merge online and offline experiences by leveraging metaverse concepts. We hope to be pioneers setting precedents for how direct-to-consumer brands are using blockchain, NFTs, augmented reality and other emerging technologies and not just following the others.

“As Web3 and the Metaverse become more refined, the possibilities will only be limited by our imaginations.”

Profile of RYU OTC markets: https://www.otcmarkets.com/stock/RYPPF WEBSITE: https://ryu.com/
Our Twitter account is: https://twitter.com/RYU_apparel

SEE THE RYU INVESTOR PRESENTATION HERE

Presentation of the e-book

About RYU Clothing

RYU Apparel (TSXV: RYU) (OTCQB: RYPPF) (FWB: RYAA) or Respect Your Universe, is an award-winning brand of urban athletic apparel and accessories designed for active lifestyles. Designed without compromise for fit, comfort and durability, RYU exists to facilitate optimal human performance. For more information, please visit the RYU website at: http://ryu.com

Disclaimer of Forward-Looking Statements

This press release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information may include, but is not limited to, statements based on current expectations involving a number of risks and uncertainties and are not guarantees of RYU’s future performance, such as statements regarding, but not therein, the long-term future growth and success of RYU. ; rebuild RYU into an omnichannel company positioned to compete globally; the company’s belief in overrun opportunities in RYU’s newly launched wholesale division; and RYU’s plans to continue to invest in wholesale and digital marketing to build awareness, which will drive higher product demand and positive shareholder returns. There are numerous risks and uncertainties that could cause actual results and RYU’s plans and objectives to differ materially from those expressed in the forward-looking information, including, without limitation, adverse market conditions and other factors beyond the control of the Company and which are described in more detail in the annual and quarterly management report of the Company and in the other documents filed by the Company with the Canadian securities authorities under the Company’s profile at the address www.sedar.com. Actual results and future events could differ materially from those anticipated in this information. These written and oral forward-looking statements and all subsequent forward-looking statements are based on management’s estimates and opinions as of the dates they are made, and are expressly qualified in their entirety by this notice. Except as required by law, RYU does not intend to update these forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FOR MORE INFORMATION PLEASE CONTACT:

www.ryu.com
1-844-535-2880
[email protected]

  • RYU Apparel Inc – United by Purpose – Motivated by Movement