The creator of urban athletic apparel, RYU Apparel Inc. (OTCQB: RYPPF) saw its stock price rise 52.20% to $0.1003 during the last trading session which raised its market cap to $19.53M.
RYU stock currently has 194.67M shares outstanding vs 62.85M float. RYPPF’s stock rose in the absence of current news, but recently released an update that may have contributed to the increase.
What was that update about?
As an award winning urban athletic brand engineered for active lifestyles, RYU or Respect Your Universe is an award winning apparel and accessories line. To facilitate optimal human performance, RYPPF provides fit, comfort, and durability without compromising on quality.
CEO Cesare Fazari gave an update on RYU Apparel recently.
Corporate Update in Brief:
- In the last quarter, RYU has concentrated on integrating COO Robert Blair’s new corporate strategy, as well as on the hiring of six team members.
- As a result of these hires, new divisions like women design, ecommerce, product strategy, and brand management have been formed.
- With a comprehensive plan for implementing Mr. Blair’s strategy and cultivating key industry relationships in addition to building inventory, launching new products, and forming new partnerships, management believes that RYU is poised for positive future growth starting in Q4 2021.
- Due to its current financing position, RYPPF will be able to carry out its corporate strategy.
- A loss of market confidence and unfavorable market conditions have caused RYPPF to suspend the previously announced convertible debenture financing.
- In order to boost growth plans with much bigger inventory orders, RYPPF will consider the best financial options as it gains more strength, trust, and sales momentum.
It’s only a matter of time until the Canada Skateboard Collaboration is released, and RYPPF soon will be launching a new campaign introducing bags, uniforms, and commercial apparel. RYU Apparel (RYPPF) is launching a multi-faceted marketing campaign in anticipation of a Fall 2021 release of its apparel collaboration, which will be the official partner of the NFL Alumni Academy.