GrowGeneration Unveils New Product Lines Across Its Proprietary Brands Portfolio
GrowGeneration (NASDAQ: GRWG) announced the launch of three new premium product lines across its proprietary brands portfolio. The company introduced the ION 135 Watt Under Canopy LED Light in November, with plans to release pest management traps under The Harvest Company brand and Char Coir Crush Pots in December. These launches increase GrowGen's proprietary product SKU count to over 220. The initiative aligns with the company's goal to have proprietary brand sales represent 35% of total gardening sales by the end of 2025, as part of their profitability strategy focusing on higher margin sales growth.
GrowGeneration (NASDAQ: GRWG) ha annunciato il lancio di tre nuove linee di prodotti premium all'interno del suo portafoglio di marchi proprietari. L'azienda ha introdotto il LED Light ION da 135 Watt sotto il canopeo a novembre, con piani per rilasciare trappole per la gestione dei parassiti sotto il marchio The Harvest Company e i vasi Char Coir Crush a dicembre. Questi lanci aumentano il numero di SKU di prodotti proprietari di GrowGen a oltre 220. L'iniziativa è in linea con l'obiettivo dell'azienda di fare in modo che le vendite dei marchi proprietari rappresentino il 35% delle vendite totali di giardinaggio entro la fine del 2025, come parte della loro strategia di redditività che si concentra sulla crescita delle vendite ad alto margine.
GrowGeneration (NASDAQ: GRWG) anunció el lanzamiento de tres nuevas líneas de productos premium en su portafolio de marcas propias. La compañía presentó la Luz LED ION de 135 vatios bajo el dosel en noviembre, con planes de lanzar trampas para el manejo de plagas bajo la marca The Harvest Company y macetas Char Coir Crush en diciembre. Estos lanzamientos aumentan el conteo de SKU de productos propios de GrowGen a más de 220. La iniciativa se alinea con el objetivo de la compañía de hacer que las ventas de marcas propias representen el 35% de las ventas totales de jardinería para finales de 2025, como parte de su estrategia de rentabilidad enfocada en el crecimiento de ventas de márgenes altos.
GrowGeneration (NASDAQ: GRWG)는 자사 브랜드 포트폴리오에 걸쳐 세 가지 새로운 프리미엄 제품 라인의 출시를 발표했습니다. 회사는 11월에 135와트 하부 캔노피 LED 조명을 소개했으며, 12월에는 The Harvest Company 브랜드의 해충 관리 트랩과 Char Coir Crush Pots를 출시할 계획입니다. 이러한 출시로 GrowGen의 고유 제품 SKU 수는 220개를 초과하게 됩니다. 이 계획은 2025년 말까지 자사 브랜드의 판매가 총 원예 판매의 35%를 차지하도록 하는 회사의 목표와 일치하며, 이는 높은 마진의 판매 성장을 중심으로 한 수익성 전략의 일환입니다.
GrowGeneration (NASDAQ: GRWG) a annoncé le lancement de trois nouvelles gammes de produits premium dans son portefeuille de marques propriétaires. L'entreprise a présenté la Lumière LED ION de 135 Watts sous le couvert en novembre, avec des projets de lancement de pièges de gestion des nuisibles sous la marque The Harvest Company et des pots Char Coir Crush en décembre. Ces lancements augmentent le nombre de SKU de produits propriétaires de GrowGen à plus de 220. Cette initiative est en ligne avec l'objectif de l'entreprise de faire en sorte que les ventes de marques propriétaires représentent 35 % des ventes totales de jardinage d'ici fin 2025, dans le cadre de leur stratégie de rentabilité axée sur la croissance des ventes à forte marge.
GrowGeneration (NASDAQ: GRWG) hat die Einführung von drei neuen Premium-Produktlinien in seinem Portfolio an eigenen Marken angekündigt. Das Unternehmen stellte im November das ION 135 Watt LED-Licht unter dem Baldachin vor und plant, im Dezember unter der Marke The Harvest Company Fallen zur Schädlingsbekämpfung und Char Coir Crush Töpfe einzuführen. Diese Produkteinführungen erhöhen die Anzahl der SKUs für proprietäre Produkte von GrowGen auf über 220. Die Initiative steht im Einklang mit dem Ziel des Unternehmens, dass die Verkäufe eigener Marken bis Ende 2025 35 % des gesamten Gartenverkaufs ausmachen, als Teil ihrer Rentabilitätsstrategie, die auf das Wachstum des Verkaufs mit höheren Gewinnmargen fokussiert ist.
- Expansion of proprietary product lines with higher margins
- Strategic growth towards 35% proprietary brand sales target by 2025
- Increased product portfolio to over 220 SKUs
- None.
Insights
The launch of new proprietary product lines represents a strategic shift towards higher-margin business but carries moderate immediate impact. The target of 35% proprietary brand sales by 2025 shows promise for margin expansion, as these products typically deliver better profits than third-party goods. The expansion to over 220 SKUs demonstrates commitment to vertical integration.
However, success depends heavily on market acceptance and competitive positioning. While the indoor growing market remains challenging, GrowGen's focus on premium products could help differentiate them. The timing aligns with industry consolidation trends, though revenue impact will likely be gradual rather than immediate. Current market conditions and
Company to Launch New Product SKU’s by End of Year in Grow Lighting, Essential Accessories and Medium Categories for Indoor Growing and Greenhouse Hydroponics
In line with GrowGen’s stated objective for proprietary brand sales to account for
Coming in December, GrowGen expects to launch new essential accessories lines of pest management traps under The Harvest Company brand, as well as a new line of Char Coir Crush Pots in its grow medium products category. Combined, these product launches bring GrowGen’s total proprietary product SKU count to over 220.
Darren Lampert, GrowGen’s Co-Founder and Chief Executive Officer, said, “As part of our recently introduced profitability strategy, we are driving higher margin sales growth by launching a series of new, innovative products in high-demand areas. That way, we can better meet our customers’ needs and contribute to stronger margins for GrowGeneration. With our high-performing brands and a consistent pipeline of exciting new products, we’re on track to reach our target of proprietary brands comprising
The Company’s proprietary-branded products cover all stages of growing, and include such notable industry brands as Char Coir, Drip Hydro, Power Si, Ion lights and The Harvest Company.
About GrowGeneration Corp:
GrowGen is a leading developer, marketer, retailer, and distributor of products for both indoor and outdoor hydroponic and organic gardening, as well as customized storage solutions. GrowGen carries and sells thousands of products, such as nutrients, additives, growing media, lighting, environmental control systems, and benching and racking, including proprietary brands such as Char Coir, Drip Hydro, Power Si, Ion lights, The Harvest Company, and more. Incorporated in
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Forward Looking Statements:
This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect opinions only as of the date of this release. Please keep in mind that the Company does not have an obligation to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as “look forward,” “expect,” “believe,” “continue,” “building,” or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are often discussed in filings made with the United States Securities and Exchange Commission, available at: www.sec.gov, and on the Company’s website, at: www.growgeneration.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241119758470/en/
KCSA Strategic Communications
Philip Carlson
Managing Director
T: 212-896-1233
E: GrowGen@kcsa.com
Source: GrowGeneration Corp.
FAQ
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