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
RYU Apparel Inc. (OTCQB: RYPPF) reported a strong Q1 2022 performance, with revenues increasing to $347,938, up from $198,825 in Q1 2021. The company also saw a 49% rise in sales and a gross profit margin increase from 12% to 25%. Strategic operational achievements include a new three-pronged wholesale strategy, partnerships with major retailers like Indigo, and plans for category dominance in the Metaverse and Web3. RYU's executive team has been bolstered by key hires, aiming for a significant impact on growth.
- Revenue for Q1 2022 rose to $347,938, up from $198,825 in Q1 2021.
- Sales grew 49% year-over-year, from $175,243 to $261,319.
- Gross profit increased from 12% in Q1 2021 to 25% in Q1 2022.
- Closure of two retail locations reduced lease obligations.
- New three-pronged wholesale strategy targeting Off Price, National Chains, and Specialty Retailers.
- Partnership with Indigo, Canada's leading lifestyle retailer, enhances market reach.
- Executive hires expected to impact growth and revenue positively.
- None.
VANCOUVER, BC, June 27, 2022 (GLOBE 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 achievement 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 t o$261,319. - Gross profit increased from
12% in Q1, 2021 to25% 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
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
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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