About iPower

iPower Inc. (iPower) engages in the marketing and sale of advanced indoor and greenhouse lighting, ventilation systems, nutrients, growing media, grow tents, trimming machines, pumps and other products and accessories mainly in the North America. The company owns and operates the retail website www.zenhydro.com where it sells a wide array of stock keeping units (SKUs) and multiple best-selling products, which enable its customers to grow vegetables, fruits and flowers, and other plants, including cannabis. The company is one of the largest online hydroponic equipment suppliers in the United States. The company intends to take advantage of current market conditions by providing consumers with an one-stop shopping experience where they can satisfy all of their horticultural needs and have the products shipped directly to them. The company has also leveraged its product development, merchandising and ecommerce expertise to extend its product catalog to address the broader general gardening and home goods market. The company is also developing a suite of ecommerce services to enable companies and brands to penetrate global markets more effectively. The company leases approximately 220,000 square feet of floor space across its four fulfillment centers just outside of Los Angeles, California and in Rancho Cucamonga, California. The company has fostered relationships with recognized commercial shipping enterprises. From its four fulfillment centers, the company delivers directly to customers, including homes, farms, and small commercial cultivators, as well as various commercial hydroponics stores across the United States. In addition to iPower’s website, www.zenhydro.com, the company sells its products through third party e-commerce channels, including Amazon (Amazon.com), eBay, and Walmart.com (Walmart), where the company has worked to develop a strong presence on their platforms. Products iPower offers essential supplies to the hydroponic, gardening and home goods industry, including nutrients, industry-leading hydroponic equipment, power-efficient lighting, and thousands of additional products for home users and professional growers. In addition to offering products from hundreds of third-party brands, the company has established its own in-house branded products, which are also made available for purchase through its various sales channels. The company’s in-house branded products, marketed under the iPower and Simple Deluxe brands, include grow-light systems, ventilation systems, activated carbon filters, nutrients, growing media, hydroponic water-resistant grow tents, trimming machines, pumps and many more hydroponic-related items, some of which have been designated as Amazon best seller product leaders, including products, which have been designated ‘Amazon Choice Products’ and ‘#1 Best Seller SKUs’. The company offers more than 4,000 products from its proprietary, in-house branded products to consumers. This year, the company’s in-house catalog has expanded to include more general home goods products, including floor fans, wall fans, shelving units, chairs and other items that are extensions of its hydroponic product catalog. Specifically for the hydroponics market, the company owns and operates the retail website www.zenhydro.com where it sells a wide array of stock keeping units (SKUs) and multiple best-selling products, which enable the company’s customers to grow vegetables, fruits and flowers, and other plants, including cannabis. The company’s principal industry opportunity is in the retail sale and distribution of hydroponics equipment and supplies, general gardening supplies, and home goods. Customers and Suppliers The company has a diverse customer base, with residential gardeners and hobbyists constituting a significant portion of its customer base and thus the largest segment of its total sales. The company sells to both commercial and home cultivators growing specialty crops. At present, sales to customers through Amazon and other third-party online platforms accounts for more than 90% of its annual sales. The company does not manufacture any of the hydroponic products it sells through its distribution channels. The company purchases its products from more than 100 suppliers, including manufacturers and distributors in the U.S. and China. E-Commerce Strategy The company continues to grow and develop its e-commerce platform, www.zenhydro.com., where the company sells hydroponic products, including equipment, tools, nutrients and more. In addition to the company’s website, it offers products to consumers through established e-commerce channels, such as Amazon, eBay and Walmart. Through these portals, the company offers various hydroponic, specialty and organic gardening products for sale. The company’s e-commerce site has been designed to appeal to both the professional grower, as well as the home gardener/hobbyist. Consumers can shop online day and night and have their purchases shipped directly to the location of their choice, or simply elect to use the company’s website as a resource. Google advertising, social media advertising and email list marketing, in addition to auto-ship functionality, are the primary mechanisms the company employs to drive traffic to www.zenhydro.com and the other portals through which the company makes its products available for sale, including Amazon.com, eBay and Walmart. At present, more than 50% of the company’s total sales occur through Amazon.com. Large Established Distribution Infrastructure The company has a fully developed distribution network through its three distribution centers in California. The company works with a network of third-party common carrier trucking/freight companies that service its customers throughout the U.S., Canada, and across the globe. The company receives daily customer orders via its business-to-business e-commerce platform. Intellectual Property and Proprietary Rights The company holds rights to website addresses related to its business, including websites that are actively used in its daily business operations, such as www.Zenhydro.com. The company owns federally registered trademarks for ‘iPower’ and ‘Simple Deluxe’, which correspond to its in-house branded products. Competition The company’s key competitors include many local and national vendors of gardening supplies, local product resellers of hydroponic and other specialty growing equipment, as well as other online product resellers on large online marketplaces, such as Amazon.com and eBay. History The company, a Nevada corporation, was founded in 2018. It was incorporated in 2018. The company was formerly known as BZRTH Inc. and changed its name to iPower Inc. in 2020.