Latest Strategic Milestones Include: Company Overview Presentation, Multi-Warehouse Shipping Solution with
Dear Shareholders,
In my first CEO letter I made the commitment that we would be consistent in sharing updates on our operational progress with investors. In my previous CEO update I outlined the details of our Phase I corporate initiatives. Our rapid progress continues, and I'm again delighted to share three key updates from Phase II of our corporate strategy.
- RYU has deployed a new multi-warehouse shipping solution that makes Canadian inventory available to customers across
the United States . RYU's zone skipping based solution consolidates shipments, decreases delivery times and reduces costs while minimizing likelihood of delays for individual shipments. Further, RYU's ShopifyPlus direct to warehouse integration is on track for completion prior to close of Q4 2020. Furthering the company's commitment to a "Digital First" ecommerce infrastructure, these activations augment our global partnership with Afterpay (ASX: APT), the leader in "Buy Now, Pay Later" payments, as well as the changeover of our Ecommerce store to the Shopify (TSE: SHOP) platform. - As part of our omni channel strategy, I'm also incredibly pleased to welcome
Grant Matzen to the RYU family.Mr. Matzen will be in charge of the re-launch and scaling of RYU's North American wholesale division.Mr. Matzen is an experienced sales and marketing professional with over a decade of experience working with iconic brands in the sports and lifestyle apparel industry such as Under Armour (NYSE: UAA), Vans, Quiksilver, and Roxy. Most recently, Mr. Matzen worked withStormtech Performance Apparel as Sales Manager - Retail and International, where he developed a complete wholesale division, building out the sales team and strategy for taking the brand to the retail market. SaidMr. Matzen , "I'm extremely excited to be joining the RYU team as it has been a brand I have admired for years. Their high-end product, message of respect, and the team in place is inspiring to be part of. I see amazing things for the future of RYU." - Lastly, for those new or familiar with our story I welcome you to review our latest Corporate Overview Presentation. I'm not shy about my belief in the power of the RYU brand, quality of our products and I trust this presentation will give credence to who we are, why we do what do and our vision of success.
In summary, our significant progress is the result of a clear strategy alongside diligent execution and work ethic from our team. These efforts and your ongoing support continue to progress RYU towards being a dominant industry force.
As always, I thank RYU's shareholders for your support throughout this process and for your belief in our vision.
Sincerely,
CEO
RYU
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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, such as statements the renewal of the RYU brand, implementation of strategic objectives and regaining profitability of RYU in 2021; revenue projections for Q3 and Q4 more than doubling from 2019; increasing the RYU footprint in
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