$RYPPF RYU Apparel Reports 304% Increase in Q3 Revenue
https://www.prnewswire.com/news-releases/ryu-...41917.html
VANCOUVER, BC, Dec. 10, 2021 /PRNewswire/ - RYU Apparel Inc. (TSXV: RYU) (OTCQB: RYPPF) (FWB: RYAA) ("RYU" or the "Company"
, creator of award-winning urban athletic apparel, is pleased to announce that the Company has reported sales of $313,9868 for the three-month period ending September 30th, 2021, a 304% increase over the prior year.
During the first two quarters of 2021, RYU's inventory and sales were significantly impeded by the global supply chain challenges and restrictions associated with the pandemic. Although many of the global headwinds remain industry-wide challenges, the revenue increase represents an inflection point as the company continues to build upon its strong foundation and corporate strategy.
Other fiscal period highlights Include:
During the last three months, RYU has efficiently deployed its foundational product architecture, brand tenants and omni-channel ecosystem that have enabled the launch of its four-pillared sustainable growth strategy.
Combined USA retail Point of Sale (POS) and eCommerce sales are up 199% vs. the same period from the previous year.
Fully opened its Vancouver, Toronto, and Williamsburg store locations, expanded its floor sales team and piloted a new retail guest experience.
Overall combined Canadian and USA retail Point of Sale (POS) is up 173%1 from the previous quarter.
Expanded management team with two key hires in Global Sales and Social Media Management. Both divisions have now completed an in-depth audit and restructuring of key performance indicators on traffic, conversion rates, search engine optimization (SEO), and search engine marketing (SEM).
The US wholesale business is up 320% from vs. the same period from last quarter
Increased eCommerce conversion rate of 86% compared to the same period last year. New customer acquisitions, driven primarily by paid media channels, is achieving 3:1
Launched first printed catalogue with distribution to households across the U.S., a key component of their omni-channel strategy
_______________________________
1 Specific eCommerce and Retail results are unaudited
converted to CAD
* 1.2405 CAD/USD
*1.267 CAD/USD
LETTER FROM CEO
Over the last two years I have been set on marshaling in a new era for RYU with a focus on strong capital market partners and establishing a team of world class apparel executives. Those who know me well know I'm eager, enthusiastic and that I pride myself on honesty and dedication to achieving results that drive shareholder value.
My experiences over these past two years have taught me the importance of patience and clear processes for developing a successful apparel business. Growth is something we have achieved as professionals, as a team and at every level of RYU's business.
Our team has fully operationalized this business, and in the past nine-month period, has achieved many of our stated corporate objectives. By way of example, in his first letter to shareholders in June, COO Rob Blair stated we would accelerate revenue in the second half of 2021. Our increase of 304% vs. the previous period last year is a marker that reflects our team's commitment to delivering on our corporate strategy. As the market forecast continues to trend upwards in the athleisure category, we are positioned for further growth especially considering this past quarter does not yet include revenue contribution for soon-to-be-launched consumer products, as well as revenue contribution related to inventory shortages and delayed deliveries.
Although much of what makes an apparel company like RYU great never makes a headline, Mr. Blair continues to effectively and tirelessly rebuild the business and add key components that will further our product innovations, unparalleled customer experiences, demand creations and seamless end-to-end brand experience.
As we press onward, I thank shareholders for their continued support and patience, and I am excited for the team to share more about their plans for 2022 and beyond.
Sincerely,
Ceasare Fazari
https://www.prnewswire.com/news-releases/ryu-...41917.html
VANCOUVER, BC, Dec. 10, 2021 /PRNewswire/ - RYU Apparel Inc. (TSXV: RYU) (OTCQB: RYPPF) (FWB: RYAA) ("RYU" or the "Company"
, creator of award-winning urban athletic apparel, is pleased to announce that the Company has reported sales of $313,9868 for the three-month period ending September 30th, 2021, a 304% increase over the prior year. During the first two quarters of 2021, RYU's inventory and sales were significantly impeded by the global supply chain challenges and restrictions associated with the pandemic. Although many of the global headwinds remain industry-wide challenges, the revenue increase represents an inflection point as the company continues to build upon its strong foundation and corporate strategy.
Other fiscal period highlights Include:
During the last three months, RYU has efficiently deployed its foundational product architecture, brand tenants and omni-channel ecosystem that have enabled the launch of its four-pillared sustainable growth strategy.
Combined USA retail Point of Sale (POS) and eCommerce sales are up 199% vs. the same period from the previous year.
Fully opened its Vancouver, Toronto, and Williamsburg store locations, expanded its floor sales team and piloted a new retail guest experience.
Overall combined Canadian and USA retail Point of Sale (POS) is up 173%1 from the previous quarter.
Expanded management team with two key hires in Global Sales and Social Media Management. Both divisions have now completed an in-depth audit and restructuring of key performance indicators on traffic, conversion rates, search engine optimization (SEO), and search engine marketing (SEM).
The US wholesale business is up 320% from vs. the same period from last quarter
Increased eCommerce conversion rate of 86% compared to the same period last year. New customer acquisitions, driven primarily by paid media channels, is achieving 3:1
Launched first printed catalogue with distribution to households across the U.S., a key component of their omni-channel strategy
_______________________________
1 Specific eCommerce and Retail results are unaudited
converted to CAD
* 1.2405 CAD/USD
*1.267 CAD/USD
LETTER FROM CEO
Over the last two years I have been set on marshaling in a new era for RYU with a focus on strong capital market partners and establishing a team of world class apparel executives. Those who know me well know I'm eager, enthusiastic and that I pride myself on honesty and dedication to achieving results that drive shareholder value.
My experiences over these past two years have taught me the importance of patience and clear processes for developing a successful apparel business. Growth is something we have achieved as professionals, as a team and at every level of RYU's business.
Our team has fully operationalized this business, and in the past nine-month period, has achieved many of our stated corporate objectives. By way of example, in his first letter to shareholders in June, COO Rob Blair stated we would accelerate revenue in the second half of 2021. Our increase of 304% vs. the previous period last year is a marker that reflects our team's commitment to delivering on our corporate strategy. As the market forecast continues to trend upwards in the athleisure category, we are positioned for further growth especially considering this past quarter does not yet include revenue contribution for soon-to-be-launched consumer products, as well as revenue contribution related to inventory shortages and delayed deliveries.
Although much of what makes an apparel company like RYU great never makes a headline, Mr. Blair continues to effectively and tirelessly rebuild the business and add key components that will further our product innovations, unparalleled customer experiences, demand creations and seamless end-to-end brand experience.
As we press onward, I thank shareholders for their continued support and patience, and I am excited for the team to share more about their plans for 2022 and beyond.
Sincerely,
Ceasare Fazari
