RYU Apparel Inc.
(TSXV:
RYU) (OTCQB:
RYPPF) Announces Company Achievements and Roadmap For
Shareholders with growth in Operations, Rollup Acquisition
Strategy, and Disruptive Technology
Opportunities
VANCOUVER, BC,
Canada -- June 27,
2022 -- InvestorsHub NewsWire -- RYU Apparel Inc. (TSXV:
RYU) (OTCQB:
RYPPF) (FWB: RYAA) ("RYU" or the
"Company"),
creator of award-winning urban athletic apparel that is positioning itself as a market leader with
disruptive technology and blockchain innovations in the apparel,
fitness, and sports & lifestyle sectors, announces today an
operational achievements and the company's roadmap ahead for
investors.
RYU CEO and Chairman Cesare Fazari states: "In
light of increased investor attention and inquiries regarding
growth and forthcoming objectives, RYU is pleased to update
accordingly. The achievements below have already positioned us for
what I believe will become explosive growth for the company and
leading us into cutting-edge territory with a revolution of
first-to-market technology and experiences for fans, consumers,
athletes, and more."
"In addition, we have some exciting partnerships we
believe could lead to attractive acquisition opportunities as part
of a rollup acquisition strategy regarding both horizontally and
vertically integrated candidates."
Financial
Success:
- Revenue for 2022 Q1
hit $347,938, up from $198,825 during the same
period last year.
- In 2022 Q1, Sales grew 49%
compared to Q1 2021,
from $175,243 to $261,319.
- Gross profit increased
from 12% in Q1, 2021 to 25% in Q1, 2022.
- Lease obligations
decreased with the closure of two retail locations (Toronto,
ON and Brooklyn, NY).
Operational
Achievements
The company has launched a three-pronged wholesale
strategy targeting Off Price,
National Chains and Specialty Retailers. The March hirings
of DJM Sales Consulting (SAXX
Underwear) (to lead global sales) and Caraway & Company (UGG, Prana) (to act as RYU's exclusive U.S.
wholesale representative), have contributed substantially, leading
to the company's first strategic partnership for its premium
activewear with Canada's leading lifestyle retailer, Indigo (TSX:
IDG).
In addition, RYU is launching three main wholesale
channels to rapidly scale with premium brand partners and volume
retail partnerships via Traditional retail, Clearance retail, and
Drop Shipping partners.
COO Rob Blair states, "Our eCommerce revenues, transaction rate and
average order value is anticipated at double- and triple-digit
growth."
As well, 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 discussions to take the
relationship to significant new
heights.
RYU also has exciting partnerships with
NFL Alumni Academy, Canada Skateboard National
Team, and soon to be announced
exclusive apparel partnerships including a recently secured deal
with one of the highest grossing film franchises in
history.
Recent Executive
hires which have already
provided significant impact to overall growth, revenues, and
overall opportunities include COO Rob Blair, a transformative thinker in areas of brand
strategy, creative direction and apparel product design; CFO Robert Lelovic, a senior financial executive and consultant, and
Marketing Director, Zachary Beers, formerly with apparel industry powerhouse
Arc'teryx, where he was pivotal in the expansion of the
Direct-To-Consumer channel from less than $1 million to over $500
million.
Into the
Future
In line with the company's 'digital first' business
model, RYU is assertively positioning itself for category dominance
in the Metaverse and Web3 space. COO Rob Blair comments,
"With an emphasis on digital for
RYU, there's a lot of potential in staking our claim in the
metaverse. Web3 and its basket of technologies is here and should
not be ignored."
"We also recognize the pent-up demand for physical
community experiences based on the past 2 years of pandemic
restrictions. RYU is uniquely positioned to leverage our
movement-based storytelling to merge online and offline experiences
leveraging metaverse concepts. We hope to be pioneers that set the
precedents on how direct-to-consumer brands use blockchain, NFTs,
Augmented Reality, and other emerging technologies and not simply
follow others."
"As Web3 and the metaverse become more refined, the
possibilities will only be limited by our
imagination."
RYU OTC Markets Profile: https://www.otcmarkets.com/stock/RYPPF
WEBSITE: https://ryu.com/
Our Twitter account
is: https://twitter.com/RYU_apparel
VIEW THE RYU INVESTOR PRESENTATION
HERE
E-Book: https://bit.ly/3ONHurz
About RYU
Apparel
RYU Apparel (TSXV:
RYU) (OTCQB:
RYPPF) (FWB: RYAA) or
Respect Your Universe, is an award winning urban athletic apparel
and accessories brand engineered 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
Forward Looking
Statements Disclaimer
This news release contains forward-looking
information that involves various risks and uncertainties regarding
future events. Such forward-looking information can include without
limitation statements based on current expectations involving a
number of risks and uncertainties and are not guarantees of future
performance of RYU, such as statements regarding, but not limited
to, RYU's future, long-term growth and success; rebuilding RYU into
an omni-channel business positioned to compete on a global scale;
the Company's belief about opportunities to overachieve in RYU's
newly-launched wholesale division; and RYU's plans to continue to
invest in wholesale and digital marketing to build awareness,
resulting in higher product demand and a positive return to
shareholders. 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 such
other factors beyond the control of the Company and which are more
fully described in the Company's annual and quarterly management's
discussion and analysis and other filings made by the Company with
Canadian securities regulatory authorities under the Company's
profile at www.sedar.com.
Actual results and future events could differ materially from those
anticipated in such information. These and all subsequent written
and oral forward-looking statements are based on estimates and
opinions of management on 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 TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in 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
investors@ryu.com
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