(MENAFN- Baystreet.ca) Within the cannabis industry, the CBD market has become oneof the most explosive markets, especially as retailers begin to latch on to theopportunity.Green Growth BrandsInc. for example, just announced it expanded with Abercrombie & Fitch tosell 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 topretailers that are jumping into the CBD space, too.As the story begins to explode, analysts at Brightfield Groupsay CBD sales could explode to$23.7 billion by 2023- a five-yearcompound annual growth rate (CAGR) of 100%. "The bulk of this growth is comingfrom large retailers like CVS, Walgreens, and Kroger entering the market andproviding that availability to consumers," says Brightfield Managing Director,Bethany Gomez. That's opening a wide range of opportunity for companiesincluding The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), SLANG WorldwideInc. (CSE:SLNG)(OTC:SLGWF), GreenThumb 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 TamaraMelck has been appointed as Chief Operating Officer of Yield Growth.Melck has proven expertise in scalingoperations. Among her career achievements, she was instrumental in the growthof 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 headoffice employees, and Melck built several of the corporate backend functionsfrom scratch, helping Aritzia to scale its operations and achieve $743M inannual revenue and to reach a market capitalization of over $1 billion when sheleft in 2017. Melck was a member and former chair of the Executive Committee ofAritzia, and she directly led and oversaw numerous departmental andcross-functional projects of all sizes to build the necessary infrastructure toenable growth.Aritzia is a verticallyintegrated, innovative design house of exclusive fashion brands. It reportednet revenue of $743.3 million in Fiscal 2018. As Yield Growth is poised for further expansion, Melck joins at a criticalmoment. "We are excited to welcome Tamara to the team," says Penny Green, CEOof Yield Growth. "Her experience helping to build a billion-dollar company willbe invaluable to Yield Growth as we move forward to achieve our businessgoals."
Other cannabis-related developments from around the marketsinclude:
SLANG Worldwide Inc. (CSE:SLNG)(OTC:SLGWF)announcedthat its RESERVE line of vaporizer cartridges is now on sale in the Stateof Floridathrough Trulieve Cannabis Corp. RESERVE is the first SLANGproduct to be offered in Florida under its strategic partnership withTrulieve announced in February 2019. As Florida's largest fullyintegrated medical cannabis company, Trulieve is offering RESERVE at all 29 ofits licensed dispensaries across the state. "Our Trulieve relationship isoff to a great start. This product launch is an important milestone, and thefirst of many we look forward to reaching in Florida,"said Peter Miller, CEO of SLANG. "We expect RESERVE to be very wellreceived in Florida by medical cannabis patients who are seeking astrain-specific, repeatable experience at an affordableprice." "Expanding patient access to high-quality, naturalrelief in safe, reliable, and innovative forms is an important factor indeciding who we partner with and what products we offer to patients. Ourpartnership with SLANG allows us to continue providing patients with an expandedvariety of high-quality medication," said Kim Rivers, CEO ofTrulieve. "We know patients in Florida will benefit greatly fromtheir award-winning products."
Green ThumbIndustries Inc. (CN:GTII)(OTC:GTBIF), a leading national cannabis consumerpackaged goods company and owner of Rise and Essence retail stores, announcedit will open its fourth retail location in Florida,RiseOviedo , the community's first cannabis store, on July 9, 2019. This isGTI's 26th open location in the country.Rise Deerfield Beach, Rise Pinellas Park andRise Bonita Springs all opened earlier this year, and GTI has a retailfootprint for up to 35 stores throughout Florida. The company owns and operatesa manufacturing facility in Homestead where it cultivates and produces GTI'sbranded cannabis products including Rhythm and The Feel Collection. "We arehonored to be the first company to provide access to medical cannabis in Oviedoand to help Floridians exercise their right to wellness," said GTI Founder andChief Executive Officer Ben Kovler. "Our Rise stores provide exceptionalcustomer care and we're thrilled to serve the people of Oviedo and surroundingcommunities."
Green Growth BrandsInc. (CSE:GGB)(OTC:GGBXF) just announced that it has surpassed 50SeventhSense Botanical Therapyshops open in four months. The first Seventh Senseshop opening was announced mid-February, and, since that time, GGB hascontinued to roll out its Seventh Sense shops at a rapid pace. The Companyanticipates opening more than 200 such shops by the end of 2019.Seventh Sense shops retail high-qualitybotanical therapy CBD-infused personal care and beauty products at affordableprices. The product offering includes over 100 SKUs across bath, body, face,therapeutic, and sleep categories."Thisrapid rollout across the U.S. is truly unprecedented," said Peter Horvath, CEO ofGreen Growth Brands. "We expect to open over 200 shops this year and areconfident that we are building one of the largest and most valuabledistribution networks for CBD."
Charlotte's WebHoldings Inc. (CN:CWEB)(OTC:CBWHF) just unveiled its newest CBD productline -hempextract-infused CBD Gummies- made with whole-plant extract from its prizedhemp genetics and featuring synergistic functional ingredients to supportspecific health related functions including everyday stress, sleep, andrecovery from exercise or active lifestyles. Available in a variety of flavors, gummies are the latest addition tothe Company's expanding line of CBD hemp-extract products. "Gummies are avery popular edible format as a result of convenience and measurableconsumption," stated Kelsey Morrison, Associate Director of ProductDevelopment at Charlotte's Web. "This new delivery format from Charlotte'sWeb provides an easy bite-sized way to ingest full-spectrum hemp-extractCBD."
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