RYU Apparel Inc. (RYPPF)

[Louied91]

$RYPPF $RYU RYU Apparel Reports 304% Increase in Q3 Revenue

https://www.prnewswire.com/news-releases/ryu-apparel-reports-304-increase-in-q3-revenue-301441917.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