Within the cannabis industry, the CBD market has become one of the most explosive markets, especially as retailers begin to latch on to the opportunity. Green Growth Brands Inc. for example, just announced it expanded with Abercrombie & Fitch to sell Seventh Sense CBD products in over 160 stores. Neiman Marcus, Sephora, Vitamin Shoppe, Kroger, Barney’s DSW, CVS, and Walgreen’s are just a few of the other top retailers that are jumping into the CBD space, too. As the story begins to explode, analysts at Brightfield Group say CBD sales could explode to $23.7 billion by 2023 – a five-year compound annual growth rate (CAGR) of 100%. “The bulk of this growth is coming from large retailers like CVS, Walgreens, and Kroger entering the market and providing that availability to consumers,” says Brightfield Managing Director, Bethany Gomez. That’s opening a wide range of opportunity for companies including The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), SLANG Worldwide Inc. (CSE:SLNG)(OTC:SLGWF), Green Thumb Industries Inc. (CN:GTII)(OTC:GTBIF), Green Growth Brands Inc. (CSE:GGB)(OTC:GGBXF), and Charlotte’s Web Holdings Inc. (CN:CWEB)(OTC:CBWHF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. announced that seasoned business executive Tamara Melck has been appointed as Chief Operating Officer of Yield Growth. Melck has proven expertise in scaling operations. Among her career achievements, she was instrumental in the growth of Canadian fashion retailer Aritzia (TSX:ATZ) as its Vice President, Corporate Operations and Executive Vice President, People & Culture. When she joined in 2001, Aritzia had 10 stores and 30 head office employees, and Melck built several of the corporate backend functions from scratch, helping Aritzia to scale its operations and achieve $743M in annual revenue and to reach a market capitalization of over $1 billion when she left in 2017. Melck was a member and former chair of the Executive Committee of Aritzia, and she directly led and oversaw numerous departmental and cross-functional projects of all sizes to build the necessary infrastructure to enable growth. Aritzia is a vertically integrated, innovative design house of exclusive fashion brands. It reported net revenue of $743.3 million in Fiscal 2018. As Yield Growth is poised for further expansion, Melck joins at a critical moment. “We are excited to welcome Tamara to the team,” says Penny Green, CEO of Yield Growth. “Her experience helping to build a billion-dollar company will be invaluable to Yield Growth as we move forward to achieve our business goals.”
Other cannabis-related developments from around the markets include:
SLANG Worldwide Inc. (CSE:SLNG)(OTC:SLGWF) announced that its RESERVE line of vaporizer cartridges is now on sale in the State of Florida through Trulieve Cannabis Corp. RESERVE is the first SLANG product to be offered in Florida under its strategic partnership with Trulieve announced in February 2019. As Florida's largest fully integrated medical cannabis company, Trulieve is offering RESERVE at all 29 of its licensed dispensaries across the state. "Our Trulieve relationship is off to a great start. This product launch is an important milestone, and the first of many we look forward to reaching in Florida," said Peter Miller, CEO of SLANG. "We expect RESERVE to be very well received in Florida by medical cannabis patients who are seeking a strain-specific, repeatable experience at an affordable price." "Expanding patient access to high-quality, natural relief in safe, reliable, and innovative forms is an important factor in deciding who we partner with and what products we offer to patients. Our partnership with SLANG allows us to continue providing patients with an expanded variety of high-quality medication," said Kim Rivers, CEO of Trulieve. "We know patients in Florida will benefit greatly from their award-winning products."
Green Thumb Industries Inc. (CN:GTII)(OTC:GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise and Essence retail stores, announced it will open its fourth retail location in Florida, Rise Oviedo, the community’s first cannabis store, on July 9, 2019. This is GTI’s 26th open location in the country. Rise Deerfield Beach, Rise Pinellas Park and Rise Bonita Springs all opened earlier this year, and GTI has a retail footprint for up to 35 stores throughout Florida. The company owns and operates a manufacturing facility in Homestead where it cultivates and produces GTI’s branded cannabis products including Rhythm and The Feel Collection. “We are honored to be the first company to provide access to medical cannabis in Oviedo and to help Floridians exercise their right to wellness,” said GTI Founder and Chief Executive Officer Ben Kovler. “Our Rise stores provide exceptional customer care and we’re thrilled to serve the people of Oviedo and surrounding communities.”
Green Growth Brands Inc. (CSE:GGB)(OTC:GGBXF) just announced that it has surpassed 50 Seventh Sense Botanical Therapy shops open in four months. The first Seventh Sense shop opening was announced mid-February, and, since that time, GGB has continued to roll out its Seventh Sense shops at a rapid pace. The Company anticipates opening more than 200 such shops by the end of 2019. Seventh Sense shops retail high-quality botanical therapy CBD-infused personal care and beauty products at affordable prices. The product offering includes over 100 SKUs across bath, body, face, therapeutic, and sleep categories. “This rapid rollout across the U.S. is truly unprecedented,” said Peter Horvath, CEO of Green Growth Brands. “We expect to open over 200 shops this year and are confident that we are building one of the largest and most valuable distribution networks for CBD.”
Charlotte’s Web Holdings Inc. (CN:CWEB)(OTC:CBWHF) just unveiled its newest CBD product line - hemp extract-infused CBD Gummies – made with whole-plant extract from its prized hemp genetics and featuring synergistic functional ingredients to support specific health related functions including everyday stress, sleep, and recovery from exercise or active lifestyles. Available in a variety of flavors, gummies are the latest addition to the Company's expanding line of CBD hemp-extract products. "Gummies are a very popular edible format as a result of convenience and measurable consumption," stated Kelsey Morrison, Associate Director of Product Development at Charlotte's Web. "This new delivery format from Charlotte's Web provides an easy bite-sized way to ingest full-spectrum hemp-extract CBD."
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