SUGARMADE
MOVES INTO EUROPEAN HYDROPONIC MARKET
Monrovia, CA -- August 16,
2018 -- InvestorsHub NewsWire -- Sugarmade, Inc. (SGMD), one of the largest
publicly traded hydroponics supply companies, today announces
expansion into the European market for hydroponics supplies by way
of its first order via Amazon UK. Under the terms of the agreement,
Sugarmade will supply dozens of SKUs to be sold in United
Kingdom.
The European market is
growing relative to hydroponics. U.S.-based importers and marketers
have developed strong product lines at very attractive prices,
based on worldwide sourcing. The quality of these products and
reasonable price points have started to attract European
cultivators who have not been able to source similar products at
attractive prices within the European markets. This inability to
source quality products at attractive price points creates a
significant opportunity for suppliers such as
Sugarmade.
Over the past few financial
quarters, Sugarmade has seen revenue growth patterns expand
geographically. Whereas as recently as mid-2017, the majority of
hydroponic-related revenue growth was seen from the California and
other west coast marketplaces, growth is becoming more
geographically dispersed among U.S. states were legalization has
eased restriction. This movement into United Kingdom further
expands the base of geographic growth areas.
"We continue to grow in
terms of top line revenue and in geographic scope," commented Jimmy
Chan, CEO of Sugarmade. "While we have previously informed our
investors of our $30 million revenue goal for next year, revenues
continue to grow across the board. The lack of available products
within the European markets provides Sugarmade additional revenue
growth opportunities. We view this as a potential growth market for
Sugarmade especially considering there are more than 740 million
people in Europe compared to only about 360 million in the U.S. We
believe even a few points of market share of this huge market will
have a very positive effect on our growth rate."
About Sugarmade, Inc.
(OTC:SGMD):
Sugarmade, Inc. is a
product and brand marketing company investing in products and
brands with disruptive potential. Sugarmade's brands
include ZenHydro.com, CarryOutSupplies.com, and BudLife Cannabis
Storage Solutions. For more information on the Company's products,
please visit http://www.Sugarmade.com.
For inquiries please
contact Jimmy Chan at (888) 982-1628 or info@Sugarmade.com.
FORWARD-LOOKING STATEMENTS:
This release contains "forward-looking statements" within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements also may be included in other publicly available
documents issued by the Company and in oral statements made by our
officers and representatives from time to time. These
forward-looking statements are intended to provide management's
current expectations or plans for our future operating and
financial performance, based on assumptions currently believed to
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"project," "estimate," "expect," "strategy," "future," "likely,"
"may," "should," "would," "could," "will" and other words of
similar meaning in connection with a discussion of future operating
or financial performance. Examples of forward looking statements
include, among others, statements relating to future sales,
earnings, cash flows, results of operations, uses of cash and other
measures of financial performance.
Because forward-looking
statements relate to the future, they are subject to inherent
risks, uncertainties and other factors that may cause the Company's
actual results and financial condition to differ materially from
those expressed or implied in the forward-looking statements. Such
risks, uncertainties and other factors include, among others such
as, but not limited to economic conditions, changes in the laws or
regulations, demand for products and services of the company, the
effects of competition and other factors that could cause actual
results to differ materially from those projected or represented in
the forward looking statements.
Any forward-looking
information provided in this release should be considered with
these factors in mind. We assume no obligation to update any
forward-looking statements contained in this
report.