VANCOUVER, BC, Feb. 22, 2021 /PRNewswire/ - RYU Apparel Inc. (TSXV: RYU) (OTC: RYPPF) (FWB: RYAA) ("RYU" or the "Company"), creator of award-winning urban athletic apparel, is pleased to announce it has successfully shipped product to Mexico City-based fashion, athletic apparel and cosmetic distributor Grupo Pavel.
In a milestone agreement that is a key step in the company's wholesale strategy, Grupo Pavel will sell RYU's best-in-class sports apparel throughout Mexico. Since 1967, Grupo Pavel has thrived as a leading distributor of premium cosmetics and apparel in Mexico. RYU will join the company of some of the world's leading brands, among them Tumi (NYSE: TUMI), Johnston & Murphy, On Running, Lorna Jane, Garmin (NASDAQ: GRMN), New Era, and Li-Ning (HKG:2331).
"Premium sportswear and athleisure represent a strong, growing market in Mexico, and our team is very excited to introduce RYU's award-winning clothing, aesthetic, and brand message to our customers" stated Cesare Fazari, CEO and Chairman of RYU.
"I am honored, on behalf of our entire team, to have the opportunity to become a partner of RYU and introduce it to our clients in Mexico" said Federico Velez Parsons, CEO of Grupo Pavel. "Mexico is eager to wear and experience new great brands and RYU reflects our values: we look forward to a great partnership".
About RYU Apparel
RYU Apparel (TSXV: RYU, OTCQB: RYPPF, FWB: RYAA), or Respect Your Universe, is an award-winning urban athletic apparel and accessories brand engineered for the fitness, performance and lifestyle of the athletic man and woman. Designed without compromise for fit, comfort, and durability, RYU exists to facilitate optimal human performance. For more information, please visit the RYU website at: https://ryu.com
About Grupo Pavel
Grupo Pavel is a leading Mexican marketer specialized in the marketing of luxury international brands. Family owned and operated for over 50 years ensures personal involvement in all aspects of the business and close ties with our Clients/Distributors on a personal basis.
Special emphasis in the marketing of fashion, perfumes/fragrances and accessories. Close personal relationships with top-management and company owners. A multidisciplinary team dedicated to successfully introduce brands via department stores, self-service stores, mono-brand free-standing stores to assure proper market positioning and branding. For more information, please visit the RYU website at http://www.pavel.com.mx/en.html
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, such as statements that: RYU will sell products in Europe or the UK, or the market trends will continue. 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.