RYU CEO and Chairman
“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 to $261,319.
- Gross profit increased from 12% in Q1, 2021 to 25% 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
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
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
Recent Executive hires which have already provided significant impact to overall growth, revenues, and overall opportunities include COO
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
“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
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E-Book Presentation
About
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
FOR MORE INFORMATION, PLEASE CONTACT:
www.ryu.com
1-844-535-2880
investors@ryu.com
Attachment
RYU Apparel Inc - United by Purpose - Driven by Movement
RYU Apparel Inc - United by Purpose - Driven by Movement
RYU Apparel Inc - United by Purpose - Driven by Movement
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