iPower Announces Partnership with Zyla by Ant International

Rhea-AI Summary

iPower Inc. (Nasdaq: IPW) has announced a partnership with Zyla, a multi-currency financial account service by Ant International. This collaboration allows Zyla's clients to expand sales on major U.S. online marketplaces through iPower's SuperSuite platform. It's the first step towards potentially integrating supply chain financial services within SuperSuite.

iPower will assist Zyla's clients in accessing U.S. ecommerce markets, while gaining access to businesses seeking U.S. market entry. As part of this partnership, iPower's CEO, Lawrence Tan, delivered keynote speeches at Seller Conferences in Shanghai and Ningbo in September, sharing insights on the SuperSuite platform and strategies for leveraging U.S. online marketplaces.

Positive

• Partnership with Zyla expands iPower's reach to new potential supply chain partners
• Potential integration of supply chain financial services into SuperSuite platform
• Access to businesses seeking entry into U.S. ecommerce market
• CEO's keynote speeches at major conferences increase visibility and credibility

Negative

• None.

iPower CEO Delivered Keynote Speeches at Seller Conferences in Shanghai and Ningbo

RANCHO CUCAMONGA, Calif., Oct. 03, 2024 (GLOBE NEWSWIRE) -- iPower Inc. (Nasdaq: IPW) (“iPower” or the “Company”), a tech and data-driven ecommerce services provider and online retailer, today announced its partnership with Zyla, a multi-currency financial account service offered by Ant International. This collaboration enables Zyla's clients to expand their sales on major U.S. online marketplaces through iPower’s SuperSuite platform. The Company’s partnership with Zyla is the first step towards a potential collaboration of supply chain financial services integrated within iPower's SuperSuite platform, enhancing the value and comprehensive support provided to its supply chain partners.

Through this collaboration, iPower can assist Zyla’s clients in expanding their reach into key U.S. online marketplaces by providing access to sales channels and fulfillment services. Additionally, iPower gains access to a network of businesses seeking entry into the U.S. ecommerce market, positioning the Company to attract new supply chain partners and drive growth in the SuperSuite platform. Zyla is the first financial services provider partner of iPower, marking a critical step toward providing supply chain financial services within iPower’s SuperSuite platform.

As part of this partnership, iPower’s CEO, Lawrence Tan, was invited to deliver keynote speeches at Seller Conferences in Shanghai and Ningbo in September. During his keynote addresses, Mr. Tan shared insights into iPower’s SuperSuite platform and its ability to revolutionize supply chain management and drive ecommerce growth. His presentations outlined iPower’s strategies to leverage the U.S. online marketplace to drive sales, streamline supply chain and fulfillment operations, and enhance long-term business success for both the Company and its partners.

“We are thrilled to kick off our partnership with Zyla and honored to have been invited to deliver the keynote speeches at the Seller Conferences in Shanghai and Ningbo,” said Lawrence Tan, CEO of iPower Inc. “We look forward to offering Zyla’s clients a pathway to efficiently enter the U.S. market, while also attracting additional supply chain partners to our SuperSuite platform. Integrating financial services into our suite of offerings marks another step toward delivering a comprehensive solution that supports the growth and success of our partners.”

About iPower Inc. 

iPower Inc. is a tech and data-driven online retailer, as well as a provider of value-added ecommerce services for third-party products and brands. iPower's capabilities include a full spectrum of online channels, robust fulfillment capacity, a network of warehouses serving the U.S., competitive last mile delivery partners and a differentiated business intelligence platform. iPower believes that these capabilities will enable it to efficiently move a diverse catalog of SKUs from its supply chain partners to end consumers every day, providing the best value to customers in the U.S. and other countries. For more information, please visit iPower's website at www.meetipower.com.

About Zyla

Zyla, part of Ant International, specializes in providing multi-currency financial account service for small and medium-sized enterprises. Zyla helps U.S. businesses grow in international markets by providing fast, secure, and efficient financial solutions. Zyla is a key player in Ant Group’s global expansion strategy.

Investor Relations Contact

Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
IPW@elevate-ir.com

FAQ

What is the new partnership announced by iPower (IPW)?

iPower (IPW) has announced a partnership with Zyla, a multi-currency financial account service offered by Ant International. This collaboration enables Zyla's clients to expand their sales on major U.S. online marketplaces through iPower's SuperSuite platform.

How will the Zyla partnership benefit iPower (IPW)?

The partnership with Zyla will give iPower (IPW) access to a network of businesses seeking entry into the U.S. ecommerce market. This positions the company to attract new supply chain partners and drive growth in its SuperSuite platform.

What events did iPower's (IPW) CEO participate in related to the Zyla partnership?

As part of the Zyla partnership, iPower's (IPW) CEO, Lawrence Tan, delivered keynote speeches at Seller Conferences in Shanghai and Ningbo in September. He shared insights into iPower's SuperSuite platform and strategies for leveraging the U.S. online marketplace.

What future developments does iPower (IPW) hint at with this partnership?

iPower (IPW) suggests that the Zyla partnership is the first step towards a potential collaboration of supply chain financial services integrated within iPower's SuperSuite platform. This could enhance the value and comprehensive support provided to its supply chain partners.