FGI Industries is a business-to-business supplier of bath and kitchen products, primarily serving the U.S. home improvement and repair & remodel markets. FGI designs products and sources them from third-party factories in China and Southeast Asia, then distributes them to large retail, wholesale, and commercial customers — it does not manufacture most of its products. FGI's product lines include sanitaryware (toilets, sinks, pedestals), bath furniture (vanities, mirrors, medicine cabinets), shower systems, and custom kitchen cabinetry. FGI sells to mass retailers like Home Depot and Lowe's, wholesalers like Ferguson, independent dealers, commercial distributors, and e-commerce channels. The majority of FGI's products are sold under customers' private label brands — such as Home Depot's "Glacier Bay" — though FGI also sells under its own brands, including Foremost, contrac, and Jetcoat. FGI is actively working to grow its branded revenue mix, as branded products carry higher margins than private label. FGI grows primarily by winning new product programs with existing and new customers, allowing it to outpace the broader R&R market. Tariffs on Chinese goods are the dominant near-term headwind, directly raising FGI's cost of goods and compressing margins. In response, FGI is diversifying its sourcing footprint to Thailand and other countries outside China. FGI is also expanding in e-commerce, growing its wholesale commercial channel, and pursuing international markets including Canada, Germany, and India.