Business
Big Retail Bets on CBD Market Opportunity
Big Retail Bets on CBD Market Opportunity.
About this update from Green Growth Brands Inc
[{"type":"text","content":"\nPOINT 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.\n 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 Se...