RYU Apparel Inc. (TSXV:RYU) (OTCQB:RYPPF) has been making major strides lately in the retail industry, but despite its positive movement, the apparel company’s stock has dropped today.
RYU Apparel Inc. Movement
RYU Apparel is an athletic apparel brand based out of Vancouver, British Columbia. It develops, markets, and distributes athletic clothes, bags, and accessories for men and women. The company currently has five retail stores and an e-commerce site. RYU was founded back in 2008.
Just recently, the Canadian-based company announced three major announcements. On October 4th, the company started trading live on the OTCQB, under the RYPPF trading symbol.
“We continue to expand our operations in the United States, opening a few more locations in the coming weeks,” said Marcello Leone, CEO of RYU.
In addition to its expansion down south, RYU Apparel also took on its biggest competitor Lululemon Athletica Inc. (NASDAQ:LULU), which was also founded in Vancouver, in a trademark legal battle and won.
RYU successfully protected its registration over its RYU trade-mark registrations in Canada—including its RYU logo. Leone explained: “We will always protect our intellectual property and we are proud to own the RYU Marks. The word Respect is in our name and at the heart of our values and it is the purpose of our movement.”
The third announcement occurred this morning and further extends its push into the US. RYU Apparel was featured in the latest online edition of Shape magazine. The company’s Cardio Short was featured as one of the best in its category, in the article called, “How To Style Bike Shorts Like A Fashion Blogger.”
RYU Stock Movement
Despite all the positive company news, RYU shares are down on the TSXV. According to Yahoo Finance, RYU is currently trading at $0.20 a share, down -$0.02 (-6.98%). On the OTCQB, RYPPF shares are trading at $0.6, down -$0.01 (-8.20%).
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