- The company is entering the European hydroponics market as it expands its foothold in the cannabis supply marketplace through its first order program via Amazon UK
- SGMD estimates that its revenue will reach $30 million by 2019 with operating profitability and positive operating cash flow; it is increasing its commitment to the industrial hemp sector
- The European marijuana market is seen as becoming the largest cannabis market in the world, with more than $150 million invested already
Sugarmade, Inc. (OTC: SGMD) is targeting the European hydroponics market, supplying multiple products for cultivators via its first order through the Amazon UK program. Its agreement calls for it to offer several dozen stock keeping units (SKUs) to be sold in the United Kingdom. A cannabis-related supply company, SGMD projects that its 2019 volume will reach $30 million at operating profitability (http://nnw.fm/b7bWf).
In a news release, Jimmy Chan, CEO of SGMD, said, “While we have previously informed our investors of our $30 million revenue goal for next year, revenues continue to grow across the board.” He cited the opportunities presented by the…
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