RYU Apparel Secures U.S. Wholesale Representation with World-Class Agency
RYU Apparel Inc. (TSXV: RYU, OTCQB: RYPPF) announced the appointment of Caraway & Company as its exclusive U.S. wholesale representative effective March 3, 2022. This move aligns with RYU's growth strategy, focusing on premium brand partnerships and expanding retail presence. The sales team aims to leverage Caraway's expertise with upscale brands to enhance RYU's market reach and visibility by fall 2022. RYU emphasizes its commitment to quality urban athletic apparel tailored for performance, aiming for significant growth across North America.
- Appointment of Caraway & Company as exclusive U.S. wholesale representative.
- Focus on expanding premium brand partnerships to increase market reach.
- Sales team making progress with key retailers and new accounts expected by fall 2022.
- None.
VANCOUVER, BC, March 15, 2022 /PRNewswire/ - RYU Apparel Inc. (TSXV: RYU) (OTCQB: RYPPF) (FWB: RYAA) ("RYU" or the "Company"), creator of award-winning urban athletic apparel, is pleased to announce that effective March 3, 2022, Caraway & Company will act as the company's exclusive wholesale representative across the U.S., promoting and wholesaling RYU products to strategic retailers nationwide.
Last year RYU refocused the company on crafting world-class products, brand and generating digital demand for those products. With wholesale playing a key role in their 4-pillar growth strategy, retaining Caraway & Company will help scale the business through nation-wide premium brand partners and volume retail partnerships that share the company's core values.
The RYU sales team has already made incredible headway with key retailers, and earlier this month they announced the hiring of DJM Sales Consulting to lead global sales and oversee their wholesale strategy. Bringing Caraway & Company onboard was DJM's first move, and they will immediately build off the existing momentum to push RYU closer to their 2022/2023 revenue and distribution targets.
Caraway & Company represents some of the biggest upscale outdoor and athletic brands, including prAna, UGG, Mountain Hardware, Havaianas, Helinox and others. In addition to putting RYU products on the shelves of "best in class" retailers, Caraway & Company will also advise on merchandising, branding, retail activations and more to expand RYU's brand presence, promote their "Movement Matters" mantra and grow their audience base. New accounts under this agreement are expected to materialize in fall, 2022.
"We believe RYU is positioned for tremendous growth across North America with the support of a talented and dedicated team, award winning active product and a powerful go to market strategy. We're confident, motivated and excited to join the team and look forward to the opportunity to represent RYU on this journey to being a dominate player in athletic activewear space," said Terry Imus Principal at Caraway & Company.
"This is a truly monumental step for RYU. Terry Imus and his team are champions for upscale, movement-based apparel brands like ours," says RYU CEO & Chairman Cesare Fazari. "With their industry relationships, marketing insights and long-standing successful track record of matching brands with retailers, we know we are in excellent hands." Said Terry Imus Principal at Caraway & Company.
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 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
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. 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.
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SOURCE RYU Apparel Inc.
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