VANCOUVER, BC, March 15, 2022 /CNW/ - 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 effective March
3, 2022, Caraway & Company will act as the company's
exclusive wholesale representative across the U.S., promoting and
wholesaling RYU products to strategic retailers nationwide.
Last year RYU refocused the company on crafting world-class
products, brand and generating digital demand for those products.
With wholesale playing a key role in their 4-pillar growth
strategy, retaining Caraway & Company will help scale the
business through nation-wide premium brand partners and volume
retail partnerships that share the company's core values.
The RYU sales team has already made incredible headway with key
retailers, and earlier this month they announced the hiring of DJM
Sales Consulting to lead global sales and oversee their wholesale
strategy. Bringing Caraway & Company onboard was DJM's first
move, and they will immediately build off the existing momentum to
push RYU closer to their 2022/2023 revenue and distribution
targets.
Caraway & Company represents some of the biggest upscale
outdoor and athletic brands, including prAna, UGG, Mountain
Hardware, Havaianas, Helinox and others. In addition to putting RYU
products on the shelves of "best in class" retailers, Caraway &
Company will also advise on merchandising, branding, retail
activations and more to expand RYU's brand presence, promote their
"Movement Matters" mantra and grow their audience base. New
accounts under this agreement are expected to materialize in fall,
2022.
"We believe RYU is positioned for tremendous growth across
North America with the support of
a talented and dedicated team, award winning active product and a
powerful go to market strategy. We're confident, motivated
and excited to join the team and look forward to the opportunity to
represent RYU on this journey to being a dominate player in
athletic activewear space," said Terry Imus Principal at Caraway
& Company.
"This is a truly monumental step for RYU. Terry Imus and his team are champions for
upscale, movement-based apparel brands like ours," says
RYU CEO & Chairman
Cesare Fazari. "With their industry relationships, marketing
insights and long-standing successful track record of matching
brands with retailers, we know we are in excellent hands." Said
Terry Imus Principal at Caraway & Company.
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 active lifestyles. 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. 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.