iPower Launches its First Nutrient Product Line “Flourish” on Amazon
DUARTE, Calif., Dec. 09, 2021 (GLOBE NEWSWIRE) -- 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/.
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.
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