RYU’s Wholesale Strategy an Unprecedented Success with Addition of Former Saks Fifth Ave SVP, National Expansion, and New Partnerships with Wholesale Icons such as Zappos, Urban Outfitters, Nordstroms, and Others
27 Juli 2022 - 1:30PM
RYU Apparel Inc. (TSXV: RYU) (OTCQB: RYPPF) (FWB:
RYAA) (“
RYU”
“RYPPF” or the
“
Company”), a cutting-edge lifestyle brand, and
creator of award-winning urban athletic apparel that facilitates
human movement, is experiencing dramatic growth in its new
wholesale strategy in Q2, 2022, exceeding previous forecast
expectations.
This momentum is attributed to the addition of a key strategic
wholesale agency partner on the East Coast with Thomas Ott, who has
an extensive background in luxury, department store, and off price
retailing, with oversight into all merchandise areas, and a
majority of his career to date in luxury at Saks Fifth Avenue where
he was SVP Men's , Home, & Concession. He joins DJM Global and
Carraway and Co, two well established leaders in the US wholesale
market, to lead RYU’s push into strategic wholesale.
RYU is proud to announce new partnerships with several
best-in-class wholesale accounts such as Nordstroms, Urban
Outfitters, and Zappos. These key accounts supplement a strong
wholesale roster which currently includes large partners such as
Altitude Sports and Winners. Several additional partners have been
identified and talks are underway to continue to expand the RYU
wholesale business.
COO Rob Blair said “We’re having conversations across the board
with Equinox, Zappos, Sport Chek Canada, Altitude Sports,
Nordstrom’s, Backcountry.com, Indigo, and more. We’ve already taken
half of those accounts and landed preliminary buys.”
He added, “What we are doing is taking the category-pillar
approach. We don’t want to go in and be a mile-wide and an
inch-thick. We want to go in and be meaningful to our partners to
deliver the solutions that ultimately drive dollars per square foot
in the retail environment.”
RYU is building three main wholesale channels to scale their
business through premium brand partners and volume retail
partnerships. Each is designed to fill a particular need:
Traditional: Stockholding retailers (both brick
+ mortar and ecommerce) at standard keystone margins, focused on
current season products.
Drop ship: Digital partners who will sell RYU
products on their ecommerce storefronts through EDI (electronic
data interchange) drop shipping; and
Clearance: Premium clearance partners to clear
out old inventory.
For 2023, RYU’s wholesale plan is to position its Impact
collection as the go-to brand inside the sporting goods channels,
reaching accounts such as REI, Scheel’s, Dick’s Sporting Goods, and
Academy Sports. RYU also sees an opportunity to bring the luxury
Rebel collection in 2024 to REI, Simons in Canada and
Bloomingdale’s while expanding the Terry collection to The Buckle.
For 2024, the goal is to reach the selling floors of Macy’s and
Urban Outfitters. “RYU also sees an opportunity to a reimaged
Technical Street offering,” states COO Rob Blair, “the Rebel is the
culmination of our design DNA in accessible luxury and athleisure
and this technical street style will evolve RYU’s look to speak to
a key consumer audience.”
Cesare Fazari, CEO, added “The wholesale program is the results
of strong partnership and brand building work RYU has developed for
years. Partners like the NFL Alumni Academy and its 40,000 members
are a force multiplier for brand awareness. Combined with other
partners like Zoom Media, the Canadian Skateboard Olympic Team, and
8000 gym locations, RYU is building momentum. These partnerships
are creating the awareness to convert into large wholesale orders.
With RYU’s expansion into game and Esports, we’re going to continue
to drive strong awareness and demand for our product across North
America.”
Blair said about the wholesale push, “The exciting part of it is
that everybody wants to talk to us. The feedback I’m constantly
getting from the rep group and the sales leadership is that
everybody’s excited.”
About RYU Apparel Inc.RYU Apparel Inc. (TSXV:
RYU, OTCQB: RYPPF), or Respect Your Universe, is a movement-focused
apparel brand. Headquartered in Vancouver, Canada, we create
multi-purpose clothing, bags and accessories for performance and
everyday wear. RYU is an experiential omni-channel retailer and
sells its products in Canada and the United States through
strategic wholesale accounts and online via its e-commerce site
http://ryu.com
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 that: RYU will sell products
or receive media exposure as a result of new immersive retail
systems. 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 but not limited to adverse market conditions and
the inability of RYU’s wholesale plans to result in a
positive contribution 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 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.
RYU APPAREL INC.Cesare
FazariChairman & Chief Executive Officer 416-434-5750
Corporate Communications investors@ryu.com
www.ryu.com
- RYU’s New Partnerships with Wholesale Icons such as Zappos,
Urban Outfitters, Nordstroms, and Others
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