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RYU Apparel Inc. Announces Pro Golf Luminary Andrew Parr and Award-Winning Designer James Chapman to Lead Development of RYU Golf Apparel Division

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Golf Performance Apparel Division set to Launch in Booming Golf Market by Summer 2021

VANCOUVER, BC, Dec. 10, 2020 /CNW/ - RYU Apparel Inc. (TSXV:RYU) (OTC:RYPPF) (FWB: RYA) ("RYU" or the "Company"), a creator of award-winning urban athletic apparel, is pleased to announce that it has commenced development on its Golf Apparel Division as well and welcome James Chapman and Andrew Parr to team.

Focusing on professional and leisure golfers alike, RYU is eager to provide high performance, scientifically engineered urban athletic gear for the booming golf industry. According to a Business Wire article, the golf tourism market is poised to grow by $5.36 bn during 2020-2024, progressing at a CAGR of 4% during the forecast period.1

Further positive indicators include Callaway (NYSE:ELY) and Acushnet Holdings (NYSE:GOLF), both golf manufacturing companies, the latter owning Titleist and FootJoy indicated turnarounds according to Yahoo Finance and this past year, despite global headwinds alongside limited  sporting activities, Dick's Sporting Goods the owner of Golf Galaxy, (NYSE:DKS) trounced expectation in their second quarter. 2

Leading RYU's Golf Apparel design team will be industry talent, James Chapman - an expert in innovation, trend, suitability and cutting-edge 3D digital design technology. Mr. Chapman has worked with Perry Ellis Golf and Callaway and will lead this division based out of Toronto.

Joining Mr. Chapman as a leader in our Golf Division is Andrew Parr. Parr has a rich and diverse background in athleticism and athletic development. As a golfer, Parr played pro in forty plus countries over an eight-year career. Parr currently serves as assistant coach of the Canadian National team — Golf Canada. He is also the Founder of Wildernest Performance Camp which is an Incubator for change makers to breakthrough their limits with world-class guides through movement, leadership + public speaking. To support his work as a performance coach, Parr co-founded 'Quiet the noise' - a life engineering program for athletes and entrepreneurs.

"We all have a hidden potential. Often, it's just beyond our edge. I enjoy taking you to that edge. How can we always respect ourselves, others and the world we live in no matter what is happening? Excited to join the RYU team."

The Golf Apparel Division has commenced development and product is set to be available by Summer 2021.

Said RYU CEO Cesare Fazari, "It's an incredibly exciting announcement for RYU to welcome Mr. Parr and Mr. Chapman. Their complimentary experience in golf will empower RYU to deliver this iconic sport apparel, I have no doubt, it will be extremely well received."

About RYU Apparel

RYU Apparel (TSXV:RYU, OTC: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: http://ryu.com

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 the launching a golf apparel division, booming golf industry, future sales of golf apparel or cutting edge design from those expressed in the forward-looking information, including: (i) adverse market conditions, including conditions arising as a result of the COVID-19 pandemic or otherwise; (ii) an inability to renew the RYU brand, implement strategic objectives and regain profitability; (iii) failing to meet target revenue projections as anticipated; (iv) failing to enter into the anticipated consulting arrangement and (v) the inability to complete the planned re-opening of the its store or the piloting of the "RYU Studio" concept. 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. 

1 https://www.businesswire.com/news/home/20201204005459/en/Global-Golf-Tourism-Market-Report-2020-with-Impact-of-COVID-19---ResearchAndMarkets.com

2 https://ca.finance.yahoo.com/news/golf-business-boomed-during-the-pandemic-morning-brief-095626068.html

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/ryu-apparel-inc-announces-pro-golf-luminary-andrew-parr-and-award-winning-designer-james-chapman-to-lead-development-of-ryu-golf-apparel-division-301190325.html

SOURCE RYU Apparel Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2020/10/c0778.html

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