iPower Launches its First Nutrient Product Line “Flourish” on Amazon
December 09 2021 - 8:30AM
iPower Inc. (Nasdaq:IPW) (“iPower” or the “Company”), one of the
leading online hydroponic equipment suppliers and retailers in the
United States, is announcing the launch of its new “Flourish” line
of advanced nutrient products, now available on Amazon
(NASDAQ:AMZN). The initial line includes six SKUs across both
nutrient and fertilizer categories with products ranging from
cloning gels and plant supplements to plant and vegetable
fertilizer, among others.
“We are thrilled to launch our highly-anticipated nutrient
product line,” said iPower CEO Lawrence Tan. “We expect this to be
the first set of many new SKUs that we introduce within the
nutrient and fertilizer category. Nutrient and fertilizer sales
represent approximately 20% of our total revenue and, until now,
have only included third-party branded products. As such, the
launch of our very own branded products presents a strong
opportunity for both revenue growth and margin expansion.
“In addition to the financial benefit, we believe our Flourish
suite of products will provide significant value to the home grower
as our products are specifically designed for their needs, which
are unique in comparison to the needs of commercial growers. We
look forward to continue serving our customers with high-value
hydroponic products at an affordable price.”
The Company plans to ramp advertising on Amazon’s marketplace in
addition to mainstream social media platforms to promote brand
awareness for Flourish. iPower also anticipates offering the new
Flourish line of products across other channel partners as well as
its own captive site, Zenyhdro.com.
About iPower Inc.
iPower Inc. is one of the leading online retailers and suppliers
of hydroponics equipment and accessories in the United States.
iPower offers thousands of stock keeping units from its in-house
brands as well as hundreds of other brands through its website,
www.zenhydro.com, and its online platform partners. All orders are
fulfilled from its two fulfillment centers in Southern California.
iPower has a diverse customer base that includes both commercial
businesses and individuals. For more information, please visit
iPower's website at https://ir.meetipower.com/.
Forward-Looking Statements
All statements other than statements of historical fact in this
announcement are forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties and
are based on current expectations and projections about future
events and financial trends that iPower believes may affect its
financial condition, results of operations, business strategy and
financial needs. Investors can identify these forward-looking
statements by words or phrases such as "may," "will," "expect,"
"anticipate," "aim," "estimate," "intend," "plan," "believe,"
"potential," "continue," "is/are likely to" or other similar
expressions. iPower undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although iPower believes that the expectations
expressed in these forward-looking statements are reasonable, it
cannot assure you that such expectations will turn out to be
correct, and iPower cautions investors that actual results may
differ materially from the anticipated results and encourages
investors to review other factors that may affect its future
results in iPower's registration statement and in its other filings
with the SEC.
US & Canada Investor Relations
Contact:Sean Mansouri, CFAElevate IR(949)
200-4603IPW@elevate-ir.com
Asia Investor Relations
Contact:Sherry ZhengWeitian Group LLC(718)
213-7386shunyu.zheng@weitian-ir.com
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