RYU Apparel Provides Shareholder Update from CEO
RYU Apparel Inc. (RYPPF) provides a shareholder update from CEO Cesare Fazari, highlighting the strategic significance of acquiring Kosan Travel, known for a successful Kickstarter campaign. RYU has undergone significant transformations to adapt to evolving consumer trends favoring ecommerce, which grew 19% in 2020 and is projected to comprise 22% of global retail sales by 2023. The company aims to enhance its digital presence, pursue synergistic acquisitions, and innovate the athleisure and travel-wear categories through advanced technologies, ensuring long-term growth and value for shareholders.
- Proposed acquisition of Kosan Travel signifies strategic growth.
- Ecommerce market growth provides favorable conditions for expansion.
- RYU's transformation positions it for leadership in athleisure and travel-wear.
- Potential risks associated with acquiring new brands and technologies.
- Market uncertainty may affect the ability to secure necessary financing.
VANCOUVER, BC, April 15, 2021 /PRNewswire/ - RYU Apparel Inc. (TSXV: RYU) (OTC: RYPPF) (FWB: RYAA) ("RYU" or the "Company"), creator of award-winning urban athletic apparel, is pleased provide a shareholder update from CEO Cesare Fazari:
Following the recent announcement of our proposed acquisition of Kosan Travel, the functional travel brand that generated one of the most successful apparel campaigns in Kickstarter history, I wanted to personally outline the strategic significance of the transaction.
As you know, over the past six-months RYU has made holistic changes that transformed our organization into a platform rich in industry talent, demand creating opportunities, and growth oriented operational infrastructure. Alongside our transformation, consumer trends have rapidly evolved away from brick-and-mortar and towards online shipping, accelerating ecommerce from next to now.
Global ecommerce is estimated to have grown
And ecommerce captured an even greater share of apparel sales throughout 2020 due to the coronavirus pandemic. In fact, ecommerce contributed all of the
These are very compelling numbers and given these industry tailwinds, we intend to leverage our brand platform to rapidly expand our existing digital footprint at RYU and pursue the development of a single, best-in-class ecommerce and technology platform serving the apparel and accessories needs of consumers in today's digital world.
In pursuit of being a true ecommerce leader in the athleisure and lifestyle markets, we are looking to make accretive acquisitions of categorically synergistic, existing ecommerce brands with loyal consumers, such as the proposed acquisition of Kosan Travel. Through these acquisitions we would aim at reducing central cost structures across businesses while leveraging special talents and marketing opportunities to simultaneously maximize scale and profits.
In conjunction, RYU will continue to add platform technologies that create best-in-class customer experiences.
We are committed to revolutionizing the athleisure industry, as well the emerging sub-category of travel-wear, through our dedication to design, quality, innovation, and customer experience. In this pursuit, we are exploring the efficacy and potential integration of new technologies and tools into our operations including body scanning, artificial intelligence, and augmented realities to provide a world-class, personalized shopping experience.
The combination of our growth strategy, proposed acquisition of Kosan, in addition to other targets and access to the public capital markets, give me every confidence in our capability to execute this dynamic strategy successfully.
Taken together, we are excited to be embarking on this continued transformation of our business and believe you, our shareholders, will better appreciate the long-term value and growth potential that it facilitates.
I look forward to providing more updates as we continue to execute throughout 2021 and beyond.
About RYU Apparel
RYU Apparel (TSXV: RYU, OTCQB: RYPPF), or Respect Your Universe, is an award winning urban athletic apparel and accessories brand engineered for the fitness, performance and lifestyle of the athletic man and woman. 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
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
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 that: successful acquire any brands, acquire new technologies or become a leader in the athleisure category. 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: (i) adverse market conditions resulting in the inability of RYU to raise necessary financing required to enter and make payments under the proposed definitive agreements; (ii) the inability of RYU to obtain any necessary approvals in respect of the proposed agreements, including approvals necessary for the issuance of the RSU's; and (iii) inability to restructure and transform its business as required. 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.
View original content to download multimedia:http://www.prnewswire.com/news-releases/ryu-apparel-provides-shareholder-update-from-ceo-301269860.html
SOURCE RYU Apparel Inc.
FAQ
What is RYU Apparel's proposed acquisition target?
How has the ecommerce market affected RYU Apparel?
What are RYU Apparel's plans for enhancing its business?
What risks does RYU Apparel face in its business strategy?
