GrowLife Announces Hydroponic Retail Store Expansion
30 Store Target Would Establish GrowLife as One of the Largest Specialty Suppliers in the Country
WOODLAND HILLS, Calif., July 23, 2013 /PRNewswire/ -- GrowLife, Inc. (OTCQB: PHOT), a provider of highly effective indoor growing technologies and unique lifestyle brands, today announced that it has begun the execution of a strategic plan to grow its GrowLife specialty retail sales channels to 30 stores with an initial build-out goal of 12 stores and $15 million in annual retail sales in 2014.
"The GrowLife retail businesses currently operate through six sales channels and generate an annualized sales run rate of $8 million," states Robert Hunt, President of Growlife Hydroponics, Inc. "We are committed to rapidly growing this by roughly 200% with a combination of new store openings and the acquisition of existing stores over the next 12-18 months. As we progress toward the goal of 30 stores, our buying and selling leverage increases substantially and GrowLife expects that it will be in an ideal position to return strong value and profitability to our shareholders."
Through recent staff additions and strategic acquisitions, GrowLife has assembled a uniquely qualified and specialized team that can manage this expansion and growth. GrowLife is actively strengthening its core retail platform in preparation for the expansion through the building of a robust ERP solution managed by an exceptional IT department. Additionally, the Company is evaluating several funding proposals that would support the expansion while remaining very shareholder friendly and minimizing dilution of existing common stock holders as GrowLife expands.
According to Hunt, " Industry analysts are nearly unanimous that the fast growing indoor specialty gardening industry is set to double in size next year and that specialty suppliers, such as GrowLife, are very likely to benefit. Measured by revenue, GrowLife is the largest SEC compliant and fully reporting company in its space. We expect to grow at or in excess of the rate of our industry while providing investors with true transparency."
"GrowLife is intent on aggressively identifying market opportunities for its growing brand in this rapidly expanding market," Hunt added. "Our recent store openings and acquisitions are just the beginning of execution on our goal to be the de facto leader in the online and brick and mortar specialty hydroponic industry."
For a GrowLife Investor Presentation visit:
30 Store Target Would Establish GrowLife as One of the Largest Specialty Suppliers in the Country
WOODLAND HILLS, Calif., July 23, 2013 /PRNewswire/ -- GrowLife, Inc. (OTCQB: PHOT), a provider of highly effective indoor growing technologies and unique lifestyle brands, today announced that it has begun the execution of a strategic plan to grow its GrowLife specialty retail sales channels to 30 stores with an initial build-out goal of 12 stores and $15 million in annual retail sales in 2014.
"The GrowLife retail businesses currently operate through six sales channels and generate an annualized sales run rate of $8 million," states Robert Hunt, President of Growlife Hydroponics, Inc. "We are committed to rapidly growing this by roughly 200% with a combination of new store openings and the acquisition of existing stores over the next 12-18 months. As we progress toward the goal of 30 stores, our buying and selling leverage increases substantially and GrowLife expects that it will be in an ideal position to return strong value and profitability to our shareholders."
Through recent staff additions and strategic acquisitions, GrowLife has assembled a uniquely qualified and specialized team that can manage this expansion and growth. GrowLife is actively strengthening its core retail platform in preparation for the expansion through the building of a robust ERP solution managed by an exceptional IT department. Additionally, the Company is evaluating several funding proposals that would support the expansion while remaining very shareholder friendly and minimizing dilution of existing common stock holders as GrowLife expands.
According to Hunt, " Industry analysts are nearly unanimous that the fast growing indoor specialty gardening industry is set to double in size next year and that specialty suppliers, such as GrowLife, are very likely to benefit. Measured by revenue, GrowLife is the largest SEC compliant and fully reporting company in its space. We expect to grow at or in excess of the rate of our industry while providing investors with true transparency."
"GrowLife is intent on aggressively identifying market opportunities for its growing brand in this rapidly expanding market," Hunt added. "Our recent store openings and acquisitions are just the beginning of execution on our goal to be the de facto leader in the online and brick and mortar specialty hydroponic industry."
For a GrowLife Investor Presentation visit:
