American hydroponics supplier moves into European market

Sugarmade announces expansion into the European market for hydroponics supplies by way of its first order via Amazon UK. Under the terms of the agreement, Sugarmade will supply dozens of SKUs to be sold in United Kingdom.

Over the past few financial quarters, Sugarmade has seen revenue growth patterns expand geographically. Whereas as recently as mid-2017, the majority of hydroponic-related revenue growth was seen from the California and other west coast marketplaces, growth is becoming more geographically dispersed among U.S. states where legalization has eased restriction. This movement into United Kingdom further expands the base of geographic growth areas.

"We continue to grow in terms of top line revenue and in geographic scope," commented Jimmy Chan, CEO of Sugarmade. "While we have previously informed our investors of our $30 million revenue goal for next year, revenues continue to grow across the board. The lack of available products within the European markets provides Sugarmade additional revenue growth opportunities. We view this as a potential growth market for Sugarmade especially considering there are more than 740 million people in Europe compared to only about 360 million in the U.S. We believe even a few points of market share of this huge market will have a very positive effect on our growth rate."

For more information:

Sugarmade

750 Royal Oaks Drive, Suite 108
Monrovia, CA
91016
USA
info@sugarmade.com