iPower Launches its First Nutrient Product Line “Flourish” on Amazon

Rhea-AI Summary

iPower Inc. (Nasdaq:IPW) has launched its new "Flourish" line of nutrient products available on Amazon. This initial release includes six SKUs covering various categories, such as cloning gels and plant fertilizers. CEO Lawrence Tan indicated that this move will enhance revenue and margins, as nutrient sales account for approximately 20% of total revenue, previously reliant on third-party brands. The company will also increase advertising on Amazon and expand product availability through other partners.

Positive

• Launch of the Flourish nutrient product line expected to drive revenue growth.
• Nutrient and fertilizer sales account for approximately 20% of total revenue.
• Plans to advertise on Amazon and social media to boost brand awareness.

Negative

• None.

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/.

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, CFA
Elevate IR
(949) 200-4603
IPW@elevate-ir.com

Asia Investor Relations Contact:
Sherry Zheng
Weitian Group LLC
(718) 213-7386
shunyu.zheng@weitian-ir.com

FAQ

What new product line has iPower Inc. launched?

iPower Inc. has launched the "Flourish" line of advanced nutrient products.

When was the Flourish product line launched?

The Flourish product line was launched on December 9, 2021.

Where can I buy iPower's Flourish products?

The Flourish products are available on Amazon.

What percentage of iPower's revenue comes from nutrient sales?

Nutrient and fertilizer sales represent approximately 20% of iPower's total revenue.

What marketing strategies will iPower use for the Flourish line?

iPower plans to ramp up advertising on Amazon and social media platforms.