VANCOUVER, BC, Oct. 26, 2021 /CNW/ - RYU Apparel Inc. (TSXV:
RYU) (OTCQB: RYPPF) (FWB: RYAA) ("RYU" or the
"Company"), a creator of award-winning urban athletic
apparel, is pleased to provide an update on the execution of its
omni-channel strategy – a key driver of the Company's previously
announced four-pillar growth model.
Led by a combined sales leadership team who have been
instrumental in growing high-value consumer brands in the sports
and lifestyle apparel sector, such as Under Armour (NYSE:UAA) Roxy,
Quicksilver, Van's, Outdoor Research and Saxx underwear, the
company's omni-channel strategy is driving brand and team
activations with positive markers across RYU's three locations
(Toronto, Vancouver, and New
York).
The Company's four-pillar strategic growth strategy, set in
motion under the guidance of COO Rob
Blair, includes RYU's governing mantra "Movement Matters" –
an all-encompassing brand philosophy covering consumer facing
assets as well as how the Company recruits talent and executes its
vision. Under this brand and design ethos, RYU has now opened its
Vancouver, Toronto and Williamsburg store locations, expanded
its floor sales team and has begun piloting a new retail guest
experience. At the first outset, and through the launch of its
Premium Printed T-Shirt Collection, Golf Shirt and new Vapor
Apparel collection as well as its recent "So Long To Summer"
marketing campaign, retail has demonstrated positive success
markers across channel.
Q3 to Q4 Performance Growth*
- Canadian retail point of sale (POS) is up 279%
- USA POS is up 287%
- Q3 ATV'S UP 12%
Alongside brick and mortars continued improvement, driven by 3:1
return on ad spend (ROAS) through new integrated campaigns, RYU's
eCommerce has recently experienced positive trends during the last
15-day period of Q3
- Ecommerce conversion rate is up 86%
- New customer acquisitions driven primarily by paid media
channels is achieving 3:1 ROAS and hit a cost per customer
acquisition milestone of $45.00
Led by newly hired Social Media Manager Travis Roberson, who has worked with world
renowned brands such as Red Bull,
Monster and social media star JustDustin, RYU's own social media
has seen engagement spikes across channel as well.
- Pinterest engagement is up 320%
- Facebook engagement is up 27%
- And Instagram interactions is up 66%
As RYU's Omni-Channel trajectory continues, RYU remains focused
on improving its go-to-market operational processes to increase
speed and frequency of new product rollouts.
RYU's eCommerce division is nearing completion of an
in-depth audit and restructuring of key performance indicators on
traffic, conversion rates, search engine optimization (SEO), and
search engine marketing (SEM). With advanced analytics and through
monitoring acquisition channels, sales funnels, and consumer
behavior, the RYU team expects to meet and exceed brand and sales
metrics moving forward.
The Company's new retail strategy remains on path for a
2023 launch, with a smaller footprint experience that allows for a
seamless omni-channel "click and collect" model. The model will
allow for geographic customization in design from the consumer data
collected via the Company's eCommerce initiatives. This model is
expected to increase productivity, targeting $1,500-$2,500 sales
per sq. ft. with lower comparative overhead, placing the Company on
a path to achieve its targets of >70% gross margins and a
five-year CAGR of >80%.
Wholesale operations are also progressing with the onboarding of
premier online boutique Flain, which serves the lively and
culturally rich capital of Kuwait
and will serve as a regional test to determine further expansion
into the burgeoning fashion markets of the Middle East.
RYU has also expanded its distribution agreement with
Toronto-based retailer,
Altitude-Sports. Altitude-Sports.com is a premiere Canadian
athletic apparel retailer, serving Canada with premium ski, snowboard, outdoor
and sport apparel for over 35 years.
"I'm pleased with our tremendous progress on all fronts," said
RYU CEO Cesare Fazari. "The
challenges of 2020 are in the rear-view mirror and positive
momentum is growing as we build upon our past successes."
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 the renewal of the RYU
brand, store growth or revenue increases. 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) 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.