- Legislative changes and deeper understanding of the health benefits of CBD have made the hemp-derived oil highly popular in the health and wellness fields
- Wildflower Brands is constantly working on the development of its retail network to position itself for rapid growth in these lucrative niches
- Via partnerships, Wildflower has already doubled its retail reach, and the company reports regular inbound contact from new retailers and potential distributors
Much of the CBD product growth in the coming years will be attributed to the health and wellness niches, where CBD oil is quickly becoming mainstream due to its ability to reduce aches, control inflammation and promote a general sense of wellbeing, as a Forbes report indicates (http://ibn.fm/mBXAQ).
A large part of this popularity can be credited to the passing of the federal Farm Bill in late 2018. The bill legalized the production of industrial hemp, which contributed to CBD oils becoming mainstream and being included in a wide array of products – from ointments to edibles and even bath bombs.
Hemp-derived CBD is already the primary driver of cannabis production in the U.S., reports suggest (http://ibn.fm/wCa5E). Over 70 percent of the hemp derived in the States is used for CBD oil derivation. CBD is highly versatile and a great match to the needs of the supplement, beauty, edibles and topical product industries. This highly lucrative market is expected to continue growing in the next years, to reach $75 million by 2030 (http://ibn.fm/2WJ9z).
Companies like Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) are working hard to expand their product offerings and reach in anticipation of the projected growth. Wildflower Brands is a public cannabis company developing brands that focus on plant-based wellness and health products. The company markets its full spectrum of CBD products to retailers in the health and wellness niches throughout the U.S. and in legal cannabis markets.
The Vancouver-based company recently launched CBD-infused products in collaboration with wellness guru Joel Warren (http://ibn.fm/RlDbG). Through this collaboration, Wildflower CBD products became available at Warren’s Saks Fifth Avenue salon.
At the beginning of 2019, Wildflower initiated a strategic New York expansion, making its products available in over 20 health and wellness stores throughout Manhattan. The move was a complete success, as over 40 percent of Wildflower’s online sales now originate from New York.
The company’s expansion and effective market positioning efforts did not end there. On June 17, 2019, Wildflower announced its reception and fulfillment of an opening purchase order from Dillard’s department stores (http://ibn.fm/bV2Rj). Through the partnership, Wildflower expects to gain exposure for its premium hemp SKUs in 260 Dillard’s stores across the country.
According to Wildflower CEO William Maclean, the partnership with Dillard’s will immediately double the number of retail locations carrying the company’s products. Through such strategic moves, Wildflower Brands anticipates becoming a household name, Maclean concluded.
Wildflower has also partnered up with Free People, a prominent bohemian lifestyle brand (http://ibn.fm/8dkLo). The partnership ensures the sale of Wildflower’s CBD+ Cool Stick, CBD+ Healing Stick, CBD+ Vanilla Soap and CBD+ Lavender Soap through the Free People website.
Currently, Wildflower holds 14 licenses for cannabis cultivation, manufacturing, distribution and retail in California. As a result of its strategic partnerships, the Wildflower retail network has expanded beyond California to reach over 200 retailers in Washington and more than 20 in New York City.
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