RYU Apparel Inc. Partners with Afterpay to Introduce Flexible Spending
Just in time for the release of its best-selling new Ethos collection, RYU customers can now use Afterpay to pay in four interest-free installments.1
VANCOUVER, BC, Nov. 19, 2020 /CNW/ - RYU Apparel Inc. (TSXV: RYU) (PINK: RYPPF) (FWB: RYAA) ("RYU" or the "Company"), creator of award-winning urban athletic apparel, today announced its global partnership with Afterpay (ASX: APT), the leader in "Buy Now, Pay Later" payments.
Afterpay partners with top fashion, beauty and lifestyle retailers to give consumers a flexible way to spend their own money by paying over time, and now RYU is among them. RYU customers can select Afterpay at checkout in order to buy now and pay later. The payment service can be used to purchase items from RYU's full product offering, including its new Ethos Collection, which features various hoodies, crewnecks, bomber jacks and other fall apparel for both men and women across multiple color options.
On average, Afterpay's Shop Directory generates 19 million referrals per month to its merchant partners, helping customer conversion rates increase by more than 20% and average order values increase by more than 25% compared to all other payment methods.2
"On the heels of our launch in Canada earlier this year, we are extremely excited to partner with Vancouver-born RYU to bring Afterpay to North American customers," said Melissa Davis, Afterpay's Head of North America. "The brand has a strong reputation for the performance and quality of their products, and we admire that they're increasing efforts to produce their clothing lines locally. We look forward to helping them grow their customer base in North America and around the world."
"Partnering with Afterpay will directly benefit our customers and improve the overall customer experience at RYU. We're thrilled to be part of their merchant network, and to complete another key step in our omni-channel strategy," said Cesare Fezari, CEO of RYU.
About RYU Apparel
RYU Apparel (TSXV: RYU, OTCQB: RYPPF), 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
About Afterpay Limited
Afterpay Limited (ASX: APT) is transforming the way we pay by allowing customers to receive products immediately and pay for their purchases over four installments, always interest-free. The service is completely free for customers who pay on time - helping people spend responsibly without incurring interest, fees or extended debt. As at September 30, 2020 Afterpay is offered by nearly 63,000 of the world's favourite retailers, and is used by more than 11 million active customers globally.
Afterpay is currently available in Australia, Canada, New Zealand, the United States and the United Kingdom, where it is known as Clearpay. Afterpay is on a mission to power an economy in which everyone wins.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Late fees may apply. Eligibility criteria apply. See afterpay.com for full terms. |
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Source: Afterpay data |
SOURCE RYU Apparel Inc.
RYU APPAREL INC., Cesare Fazari, CEO, President and Chairman of the Board, Tel: 604-235-2880; Investor Relations: Contact: Anna Brazier, Investor Relations, 1-844-535-2880, [email protected]; www.ryu.com
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