VANCOUVER, BC, April 15, 2021 /CNW/ - 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 19% in
2020, reaching $4.2
trillion in sales worldwide. By 2023, ecommerce is
expected to represent 22% of global retail sales, or $6.5 trillion, according to eMarketer.
And ecommerce captured an even greater share
of apparel sales throughout 2020 due to the coronavirus
pandemic. In fact, ecommerce contributed all of the 1.9%
year-over-year growth in total
U.S. apparel sales.
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.
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SOURCE RYU Apparel Inc.