Monday December 16th, 2013 - 11:37AM
Armed with a $4.5 million equity infusion and a new partnership with fertilizer giant Scotts, AeroGrow is making a return to retail shelves after a nearly four year hiatus with a new line of Miracle-Gro branded indoor gardening systems. The new line of Miracle-Gro AeroGardens has already rolled out at Costco and Amazon.com and, according to the company, is expected to roll out to a number of additional retailers in the coming months including Home Depot, Frontgate Catalog, Hammacher Schlemmer, Target and Home Shopping Network (HSN).
The new partnership is expected to pay immediate dividends, according to AeroGrow’s CEO, Mike Wolfe, who noted the Miracle-Gro brand opens doors that would have been far more challenging for AeroGrow to open on its own.
In the longer term, the new branding, coupled with AeroGrow’s new relationship with Scotts, is expected to open new retail doors as the appliance company leverages the fertilizer giant’s established base of retail, vendor and R&D relationships.
“The Scotts Miracle-Gro company has been remarkable in terms of introducing us to the right people to seek supply chain help, inbound shipping; they’ve been phenomenal,” said Wolfe.
He noted, however, that AeroGarden continues to operate separately and the two organizations have not been integrated from the standpoint of staffing or operations.
For more on AeroGrow, see HomeWorld’s December 16, 2013, issue. This issue also features the annual year in review of the housewares industry, and the Home Entertainment Report, a consumer survey on furniture purchasing preferences.