Latest Strategic Milestones Include: Company Overview
Presentation, Multi-Warehouse Shipping Solution with NRI
Distribution and Re-Launch of North American Wholesale
Division.
VANCOUVER, BC, Nov. 24, 2020 /CNW/ - RYU Apparel Inc. (TSXV:
RYU) (OTC: RYPPF) (FWB: RYAA) ("RYU" or the
"Company"), a creator of award-winning urban athletic
apparel, is pleased to share a second corporate update letter from
CEO Cesare Fazari.
Dear Shareholders,
In my first CEO letter I made the commitment that we would be
consistent in sharing updates on our operational progress with
investors. In my previous CEO update I outlined the
details of our Phase I corporate initiatives. Our rapid
progress continues, and I'm again delighted to
share three key updates from Phase II of our corporate
strategy.
- RYU has deployed a new multi-warehouse shipping solution that
makes Canadian inventory available to customers across the United States. RYU's zone skipping based
solution consolidates shipments, decreases delivery times and
reduces costs while minimizing likelihood of delays for individual
shipments. Further, RYU's ShopifyPlus direct to warehouse
integration is on track for completion prior to close of Q4
2020. Furthering the company's commitment to a "Digital First"
ecommerce infrastructure, these activations augment our global
partnership with Afterpay (ASX: APT), the leader in "Buy Now,
Pay Later" payments, as well as the changeover of our Ecommerce
store to the Shopify (TSE: SHOP) platform.
- As part of our omni channel strategy, I'm also incredibly
pleased to welcome Grant Matzen to
the RYU family. Mr. Matzen will be in charge of the re-launch and
scaling of RYU's North American wholesale division. Mr. Matzen is
an experienced sales and marketing professional with over a decade
of experience working with iconic brands in the sports and
lifestyle apparel industry such as Under Armour (NYSE: UAA),
Vans, Quiksilver, and Roxy. Most recently, Mr. Matzen worked
with Stormtech Performance Apparel as Sales Manager - Retail and
International, where he developed a complete wholesale division,
building out the sales team and strategy for taking the brand to
the retail market. Said Mr. Matzen, "I'm extremely excited to
be joining the RYU team as it has been a brand I have admired
for years. Their high-end product, message of respect,
and the team in place is inspiring to be part of. I see amazing
things for the future of RYU."
- Lastly, for those new or familiar with our story I welcome
you to review our latest Corporate Overview
Presentation. I'm not shy about my belief in the power of the
RYU brand, quality of our products and I trust
this presentation will give credence to who we are,
why we do what do and our vision of success.
In
summary, our significant progress is the
result of a clear strategy alongside diligent execution and work
ethic from our team. These efforts and your ongoing support
continue to progress RYU towards being a dominant industry
force.
As always, I thank RYU's shareholders for your support
throughout this process and for your belief in our
vision.
Sincerely,
Cesare Fazari
CEO
RYU
About RYU Apparel
RYU Apparel (TSXV: RYU, PINK: RYPPF, FWB: RYAA), 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 the renewal of the RYU
brand, implementation of strategic objectives and regaining
profitability of RYU in 2021; revenue projections for Q3 and Q4
more than doubling from 2019; increasing the RYU footprint in
Canada and U.S. and RYU becoming a
dominant industry force; entering into a consulting relationship
with Joel Primus, co-founder of
Naked Brands Inc.; changes in operations resulting cost
saving and other advantages; planned reopening of our
flagship store which will pilot the "RYU Studio" concept.
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, including
conditions arising as a result of the COVID-19 pandemic or
otherwise; (ii) an inability to renew the RYU brand, implement
strategic objectives and regain profitability; (iii) failing to
meet target revenue projections as anticipated; (iv) failing to
enter into the anticipated consulting arrangement and (v) the
inability to complete the planned re-opening of the its store or
the piloting of the "RYU Studio" concept. 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.