RANCHO CUCAMONGA, Calif., May 20, 2024 (GLOBE NEWSWIRE) -- iPower Inc. (Nasdaq: IPW) (“iPower” or the “Company”), a tech and data-driven online retailer and supplier of consumer home, pet and garden products, as well as a provider of value-added ecommerce services, today announced the first anniversary of its SuperSuite supply chain business (“SuperSuite”) and key differentiators fueling its transformative growth.
“Since its inception in 2023, SuperSuite has emerged as a critical partner for innovative product companies looking to expand their omnichannel presence, enabling them to accelerate their sales growth and brand recognition,” said Lawrence Tan, CEO of iPower. “We're pleased with SuperSuite's strong sales momentum in recent months, as it now accounts for approximately 10% of revenue and contributed to iPower’s return to profitability in our fiscal third quarter of 2024. We are working through a robust pipeline of top-tier partners and look forward to capitalizing on the growing demand for SuperSuite as it becomes an even larger contributor to our revenue mix.”
iPower’s SuperSuite provides a comprehensive solution that includes access to major U.S. online channels such as Amazon.com Vendor Channel, Amazon.com 3P, Walmart.com, Temu, TikTok Shop, eBay, HomeDepot.com, Lowes.com, and Target.com, as well as robust connections with offline big-box retailers. Coupled with a strategically located network of fulfillment centers and a proprietary business intelligence platform, SuperSuite empowers brands with efficient fulfillment services and critical data-driven insights for strategic decision-making.
SuperSuite has become a trusted partner for innovative brands such as Sansui, a leading manufacturer of TVs, computer monitors and speakers; and Kuka Home, a supplier of high-quality upholstered furniture. These brands have generated remarkable sales growth and operational efficiencies by leveraging SuperSuite's deep network of sales channels, strategic fulfillment centers and data-driven insights. Their success underscores SuperSuite's superior capabilities in supply chain management, merchandising and warehousing to ultimately drive partner growth across diverse industries.
iPower’s SuperSuite platform is also an ecosystem open to value-added partners, including logistics, technology, and marketing providers, further enhancing the comprehensive service offerings. This collaborative approach has positioned SuperSuite at the forefront of market trends, attracting a wide array of new partners and setting the stage for future expansion.
About iPower Inc.
iPower Inc. is a tech and data-driven online retailer and supplier of consumer home, pet and garden products, as well as a provider of value-added ecommerce services for third-party products and brands. Our capabilities include a full spectrum of online channels, robust fulfillment capacity, a network of warehouses serving the US, competitive last mile delivery partners and a differentiated business intelligence platform. With these capabilities, iPower efficiently moves a diverse catalog of SKUs from its supply chain partners to end consumers every day, providing the best value to customers in the US and other countries. For more information, please visit iPower's website at www.meetipower.com.
Forward-Looking Statements
All statements other than statements of historical fact in this press release 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 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 and performance in iPower's Annual Report on Form 10-K, as filed with the SEC on September 15, 2023, its Quarterly Reports on Form 10-Q, as filed with the SEC on November 15, 2023, February 14, 2024 and May 14, 2024, and in its other SEC filings.
Investor Relations Contact:
Sean Mansouri, CFA
Elevate IR
(720) 330-2829
IPW@elevate-ir.com
