GrowGeneration Unveils New Product Lines Across Its Proprietary Brands Portfolio
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
GrowGeneration Corp. (NASDAQ: GRWG) ("GrowGen" or the "Company"), one of the largest retailers and distributors of specialty hydroponic and organic gardening products in the United States, today announced the launch of three new premium product lines across its portfolio of proprietary brands, in product categories including grow lighting, essential accessories and medium for indoor growing and greenhouse hydroponics.
In line with GrowGen's stated objective for proprietary brand sales to account for 35% of total gardening sales by the end of 2025, over the next two months GrowGen has and will be releasing a number of exciting new products across its exclusive portfolio. Starting in November, the Company recently launched its new ION 135 Watt Under Canopy LED Light, designed to help cultivators improve their harvest quality, increase yields and to grow more profitably.
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 35% of total sales by the end of 2025."
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 Colorado in 2014, GrowGen is the largest chain of specialty retail hydroponic and organic garden centers in the United States. The Company also operates an online superstore for cultivators at growgeneration.com, as well as a wholesale business for resellers, HRG Distribution, and a benching, racking, and storage solutions business, Mobile Media or MMI.
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