RYU Apparel Provides Omnichannel Strategy Update
The Company’s four-pillar strategic growth strategy, implemented under the leadership of the COO Rob Blair, includes RYU’s guiding mantra “Movement Matters” – an overarching 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 stores, expanded its ground sales team and began piloting a new retail experience for customers. Right off the bat, and thanks to the launch of its premium print t-shirt collection, golf shirt and new Vapor apparel collection, as well as its recent “So Long To Summer” marketing campaign, retail demonstrated positive markers of success across the channel.
Performance growth from Q3 to Q4*
- Canadian retail outlets (POS) grew 279%
- United States POS is up 287%
- 12% INCREASE IN MOUNTAIN BIKES IN Q3
Along with the brick and mortar’s continuous improvement, driven by a 3:1 return on ad spend (ROAS) from new integrated campaigns, RYU’s e-commerce has recently seen positive trends over the past 15 last days of the third trimester.
- E-commerce conversion rate is up 86%
- New customer acquisitions, led primarily through paid media channels, achieve a ROAS of 3:1 and achieve a cost per customer acquisition of $45.00
Led by newly hired Social Media Manager Travis Robersonwho has worked with world famous brands such as Red BullMonster and social media star JustDustin, RYU’s own social media also saw spikes in engagement across the channel.
- Pinterest engagement increased by 320%
- Engagement on Facebook increased by 27%
- And Instagram interactions increased by 66%
As RYU’s omnichannel trajectory continues, RYU remains focused on improving its go-to-market operational processes to increase the speed and frequency of new product rollouts.
RYU e-commerce The division is about to complete an extensive audit and restructuring of key performance indicators on traffic, conversion rates, search engine optimization (SEO) and search engine marketing (SEM). Through advanced analytics and monitoring of acquisition channels, sales funnels, and consumer behavior, the RYU team expects to meet and exceed brand and sales metrics in the future.
Company news retail The strategy remains on track for a 2023 launch, with a smaller footprint experience that enables a seamless omnichannel click and collect model. The model will enable geographic customization of the design from consumer data collected through the company’s e-commerce initiatives. This model is expected to increase productivity, targeting $1,500–$2,500 sales per square foot with lower comparative overhead, putting the Company on track to achieve its goals of gross margins >70% and a five-year CAGR of >80%.
Wholesale operations are also progressing with the integration of Flain’s first online store, which serves the bustling and culturally rich capital of Kuwait and will serve as a regional test to determine further expansion into the booming fashion markets of the Middle East.
RYU has also expanded its distribution agreement with TorontoAltitude-Sports retailer. Altitude-Sports.com is a leading Canadian sportswear retailer, serving Canada with premium ski, snowboard, outdoor and athletic apparel for over 35 years.
“I am delighted with our tremendous progress on all fronts,” said RYU CEO Cesare Fazari. “The challenges of 2020 are in the rearview mirror and positive momentum is building as we build on our past successes.”
About RYU Clothing
RYU Apparel (TSXV:RYU, OTCQB:RYPPF), or Respect Your Universe, is an award-winning brand of urban sports apparel and accessories designed for men’s and women’s fitness, performance and lifestyle. sports woman. Designed without compromise for fit, comfort and durability, RYU exists to facilitate optimal human performance. For more information, please visit RYU’s website at: http://ryu.com.
Disclaimer of Forward-Looking Statements
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release. Press.
This press release contains forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information may include, but is not limited to, statements based on current expectations involving a number of risks and uncertainties and are not guarantees of RYU’s future performance, such as statements regarding the renewal of the RYU brand, store growth or revenue increase. 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 resulting from the COVID-19 pandemic or otherwise; (ii) an inability to renew the RYU brand, implement strategic objectives and return to profitability; (iii) not achieving target revenue projections as planned; (iv) Actual results and future events could differ materially from those anticipated in this information. These written and oral forward-looking statements and all subsequent forward-looking statements are based on management’s estimates and opinions as of 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.
SOURCE RYU Clothing Inc.
For further information: RYU APPAREL INC. : Cesare Fazari, President and CEO, +1 (604) 235-2880; Corporate Communications: Anna Brazier, +1 (844) 535-2880, [email protected]; www.ryu.com