POINT ROBERTS, Wash. and DELTA, British Columbia, March 14, 2019 (GLOBE NEWSWIRE) — Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a snapshot looking at how big retailers are jumping into the CBD space to ensure the product is on the shelves to meet future market demand.
This new phase began with recent headline news from Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) and Sequential Brands Group, Inc. announcing that Martha Stewart had joined the Company in an advisory role to assist with developing and positioning a broad new line of product offerings across multiple categories.
As previously reported in January 2019, ‘Canopy Growth has developed diverse product offerings specific to hemp-derived CBD and the Company looks forward to working closely with Martha Stewart as they further develop and introduce these products to market in the future’. Canopy Growth previously reported that it will invest between $100 and $150 million in a hemp industrial park in New York State with the intended purpose of being the Company’s first hemp facility in the United States.
Green Growth Brands, Inc. (CSE: GGB) (OTCQB: GGBXF) just announced the opening of two new CBD shops, located in Castleton Square, Indianapolis, Indiana and in Oxmoor Center, Louisville, Kentucky. The shop in Castleton Square is the first space GGB has leased from Simon Property Group to open.
These new locations are the fourth and fifth of hundreds planned, Seventh Sense shops to open by the end of the year. The Simon location is part of an entered into an agreement through which the Company will gain access to 108 prime shop locations in US malls. The shop in Oxmoor Center, Louisville, Kentucky is the second space leased by GGB from Brookfield Properties to open.
“We are pleased with the initial performance of our shops and our eCommerce site, ShopSeventhSense.com,” said Peter Horvath, CEO of Green Growth Brands. “The investments we are making in securing premium leases and in designing beautiful shop fixtures not only create amazing consumer experiences but are fantastic marketing mechanisms for our brand. With our eventual footprint of hundreds of shops in high foot traffic locations, we will be gaining exposure to millions of potential customers.”
The Seventh Sense CBD shops retail high-quality botanical therapy CBD-infused personal care and beauty products at affordable prices. The ever-expanding product offerings include CBD-infused body lotion, muscle balm, body wash, bath salts, sugar scrub, bath bomb, lip balm, and face oil.
“Working with the world’s largest retailer is an honor,” said Koios CEO, Chris Miller. “Walmart has begun carving out significant shelf space in select locations to build the next generation of better-for-you brands, and we are truly excited to be one of them. Making the world a healthier place is our mission and our relationship with Walmart will be a tremendous catalyst for reaching a mass audience for our brand.”
Expected to be available in select stores over the coming weeks, the CBDMEDIC line includes “pain relief and skin care products”, notes a statement from Abacus, which develops and commercializes over-the-counter (OTC) registered topical medications with active pharmaceutical ingredients and organic and natural ingredients, including a cannabinoid-rich hemp extract containing CBD.
“This purchase order marks an important milestone in our growth strategy of securing major US retail chains to distribute our products,” said Perry Antelman, CEO of Abacus. “These stores are an initial step toward our ultimate goal of distributing our Over-The-Counter (OTC) registered products through major retail chains from coast to coast and represents a major inflection point in the accessibility of CBDMEDIC to the American market.”
The US market is craving CBD products and large scale retailers are taking notice (including for instance Neiman Marcus, Sephora, and Whole Foods) and are ensuring a proper product line-up for 2019 and beyond. With these large scale retailers opting into the CBD/Hemp space, it is only a matter of time before online retail giants like Amazon join as well.