RYU Apparel Stores Reopening in
A key step in RYU's omni-channel strategy and corporate re-set is the reopening the Company's flagship stores that have been closed due to the global COVID-19 pandemic. The reopening of the Company's
Known for its interactive experiences, customer service, and community events, RYU's stores have always been a cornerstone to the Company's brand and culture. Once re-opened, customers will be able to once again enjoy bespoke shopping experiences that include:
- Personalized product education for every customer to ensure the products they are being outfitted with will best meet their performance needs
- Exclusive, limited seasonal products
- In stock, best-selling "hero items"
- Health and wellness focused special events
- Enhanced measures to ensure health and safety of our customers
RYU Apparel Expands in
RYU continues its rapid expansion across channels, driven by recent operational changes, including a streamlined supply chain and the move to the Shopify ecommerce platform.
The first regions outside
According to market research, revenues in the sports apparel market are estimated to reach around US
This expansion comes at a decisive moment in RYU's growth plan as the Company globalizes its exposure through its sponsorship of
"We are delighted to open our incredible line-up of products to customers in
Customers in
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1 | https://www.statista.com/statistics/254489/total-revenue-of-the-global-sports-apparel-market/ |
2 | https://www.globenewswire.com/news-release/2020/03/06/1996274/0/en/Global-Sports-Fitness-Clothing-Industry.html |
3 | https://www.morningbrew.com/marketing/stories/2020/12/22/2021-marketing-trends-two-common-predictions-pros |
RYU Apparel Secures
On
The Company intends to use the loan primarily for inventory purchases for replenishment of top-selling styles, Fall 2020, and Spring 2021 collections. In addition, funds will be allocated to general working capital to accelerate growth through current and future marketing and sales initiatives, including continued wholesale roll out across
An existing shareholder of the Company has agreed to provide a personal guarantee to secure repayment of the Loan. In consideration for providing the personal guarantee by way of a share pledge agreement, RYU has agreed to issue the guarantor, as a bonus, an aggregate of 1,333,333 common shares (the "Loan Bonus Shares") of the Company. The Loan and the issuance of the Loan Bonus Shares are subject to the approval of the
The Loan Bonus Shares will be subject to a four-month plus one-day hold period in accordance with applicable securities laws.
COO Rob Blair Option Granted Stock Options and Restricted Share Units
Recently appointed Chief Operational Office (COO)
Per his employment agreement
a. 1,000,000 RSUs will vest on the date which is one year from the Start Date;
b. 1,000,000 RSUs will vest on the date which is two years from the Start Date; and
c. 1,000,000 RSUs will vest on the date which is three years from the Start Date.
About
"
Tel: 1–844–535–2880
This news release contains forward-looking information that involve 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 the Company, such as the statement regarding the intended use of funds from the Loan. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including the failure of the Company to obtain the necessary approval for the Loan and grant of Loan Bonus Shares, failure of the Company to repay the Loan and any other factors that may cause the Loan not to be repaid, the ability of the management team to execute on its business plan, risks in the apparel industry in general, and COVID-19 related risks. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information 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, the Company does not intend to update these forward-looking statements.
Neither the
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