Cannabis company Green Growth Brands Inc. recently struck a deal with fashion retailer American Eagle Outfitters to display and sell CBD-infused personal care products commencing on October. This is following retail giant Abercrombie & Fitch’s announcement that they will sell GGB products in over 160 of their 250+ stores earlier this year.
American Eagle is set to market GGB-made cannabidiol derivative products such as aromatherapy, muscle balms, and lotions. These are to be displayed in almost all of their 500 retailer stores and online shops. This marks a definitive growth in the CBD industry and its entry to the world of retail.
About The Deal
Green Growth Brands Inc. agreed to be American Eagle’s partner in the development and distribution of CBD-based care items. GGB is expected to provide cannabis expertise required to formulate the exclusive products that conform to government guidelines and laws. They will also be heavily involved in the packaging design and production.
The GGB is based in Ohio and sources their ingredients from legal hemp processors in the US. They have successfully launched several campaigns and CBD-infused line of products, such as their Seventh Sense Botanical Company. To date, they drive one of the strongest sales in the industry by square feet.
Their success can be attributed to their dedication to eradicating the stigma of selling cannabis derivatives. GGB and other CBD companies are pulling in a cumulative effort to introduce hemp in a positive light. This includes supporting movements to clarify hemp regulations in an industry that has yet to rid of such uncertainties.
Major Turnaround In Cbd Industry
These recent developments are spurred by the legalization of hemp under the 2018 Farm Bill, which ultimately allows the cultivation of Cannabis sativa L., provided that it has 0.3 or less of THC concentrations. The hemp is found to have phytochemicals, particularly the essentially non-psychoactive cannabinoids that are known to have significant pharmaceutical value.
Infusion of CBD in personal care products is a wise move for the part of the retail industry. There are many clinical trials that prove the anxiolytic properties of CBD. This and a few other discovered benefits of cannabinoid has piqued the interest of more consumers, which makes for a promising future in CBD businesses.
Aside from American Eagle and Abercrombie, GGB was also tapped by a third retailer, DSW, as a partner in developing CBD-infused items for public consumption. This a breakthrough for the entire CBD industry in its efforts to introduce such beneficial products to more people; this, despite FDA’s warnings on cannabis and hemp derivatives.
These dealings of GGB and other cannabis companies with retailers definitely support projections of the industry growing to astounding several billion-dollar empires in 2022 by Brightfield, a research firm focusing on cannabis use.
The CBD and hemp businesses’ development remains unstoppable and can only go up from here. Cannabis companies are effectively branching out to different industries, and thus potentially impact more people around the world. Proactive startups can expect a brighter future if this partnership trend with retail companies continues to grow.