- Wildflower Brands recently completed its acquisition of City Cannabis Corp. in a deal that includes four operating retail cannabis stores and renovations to additional locations
- Wildflower holds 14 licenses for cannabis cultivation, manufacturing, distribution and retail in California, the world’s largest cannabis market
- Expansion plans into Europe’s CBD market are underway via an agreement with Poland-based wellness distribution company Two Towers
Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) continues its expansion of retail, online sales and production capacity in both Canada and the United States, building on its strategic goal of becoming a global wellness leader. Its recent acquisition of City Cannabis Corp., which currently serves the Vancouver, British Columbia, cannabis market, included four retail cannabis stores and the renovation of additional retail locations.
The purchase of City Cannabis Corp. expands Wildflower’s reach and strengthens the company’s status as a leading brand-focused industry leader in the cannabis and CBD industry (http://ibn.fm/n0174). City Cannabis has been turning a profit in dispensary operations since Vancouver started licensing cannabis retailers, posting revenues of $1.8 million for the quarter ended March 31, 2019.
“City Cannabis is no doubt the fastest growing multiple location cannabis retailer in British Columbia,” Wildflower CEO William MacLean said in a news release. “The team has demonstrated their ability to find the best locations, but more importantly, the knowledge and ability to work with regulators at all levels has meant success in licensing that is unmatched.”
Wildflower also expanded its retail presence in the U.S. with the launch of its wellness products in more than 260 Dillard’s department stores. The initial purchase order from Dillard’s is significant, MacLean said in a news release, since it enables Wildflower to enter new markets in several U.S. states (http://ibn.fm/3N99A).
“Launching into Dillard’s will double the number of retail locations we are in overnight. Our strategy is to build off our established brand equity in these key markets that can catapult us into becoming a household name,” MacLead continued. “Dillard’s has the respect and reputation as a retailer that fits in with our loyal following. I am looking forward to bringing the wellness and health benefits of CBD through Wildflower’s products to Dillard’s clientele.”
Wildflower’s CBD-infused products can also be found at wellness guru Joel Warren’s ‘The Salon Project’ at Saks Fifth Avenue in New York City (http://ibn.fm/5FX7d). Warren is a celebrity beauty and wellness icon who has been a leader in the hair care industry for more than 30 years. The Salon Project at Saks Fifth Avenue features a full salon and lounge space, a VIP treatment room and a curated “shop-in-shop” CBD beauty corner.
The lucrative U.S. CBD market is estimated to grow to $22 billion by 2022 (http://ibn.fm/mLqGF) and $75 billion by 2030 (http://ibn.fm/H4H7q). With the inclusion of Dillard’s stores, Wildflower products are now in distribution in 600 locations across America.
“In this soon-to-explode global CBD marketplace, those with the most recognized brands that have developed a loyal customer base will emerge as the world leaders,” MacLean said. “Our strategy is to build off our established brand equity in these key markets and partner with brands that can catapult us into becoming a household name.”
For more information, visit the company’s website at www.WildflowerBrands.co
NOTE TO INVESTORS: The latest news and updates relating to WLDFF are available in the company’s newsroom at http://ibn.fm/WLDFF