Inc. (SGMD) announced a major business expansion through the introduction of CaliGrownSupplies.com, a new division of the Company targeting the fast growing hydroponic supply sector. The focus of the new business unit will be on business-to-business e-commerce, and manufacturing and distribution of hydroponic-related supplies.
The new business initiative capitalizes on the vast experience Sugarmade’s staff has gained via the operation of its CarryOutSupplies.com division, which services more than 3,000 business customers. The Company has recently announced that the CarryOutSupplies.com division continues to grow with strong order flow and record web traffic.
“We have been working on bringing CaliGrownSupplies.com on line for the past year and we are excited
about the launch,” commented Jimmy Chan, Sugarmade’s CEO. “This type of business is not new to us. Since 2004, we have been a significant provider of business-to-business e-commerce and we now plan to use this experience to further expand our operations in the hyper-growth hydroponic related markets. It’s an excellent area of growth for the Company and its employees and investors.”
Sugarmade plans aggressive growth in the number of products available for sale on the site, with additions expected every few weeks through the end of the year. The site can be viewed at http://www.CaliGrownSupplies.com.
The company reported revenues of $904,000 for its fiscal Q3 ended in March 2017, up 9.3% over the prior year’s period, and it announced last month that it expects its trajectory for this current fiscal Q4 ending on June 30th to result in record quarterly revenues.
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade’s brands include CaliGrownSupplies.com, CarryOutSupplies.com, Sugarmade Tree Free Paper, FreeHand™ ThumbTray™, and Sriracha Seasoning Stix™, a revolutionary culinary seasoning product under official license from Irwindale, California-based Huy Fong Foods, Inc., the maker of Sriracha Hot Chili Sauce. For more information on the Company’s products, please visit http://www.Sugarmade.com.