CBD products are one step closer to going mainstream in America, as Green Growth Brands Inc (OTC: GGBXF) and shoe retailer DSW Inc. (NYSE: DSW)¬†announced an agreement Thursday to sell CBD products in shoe stores across the U.S.¬†
Green Growth Brands and DSW agreed to sell products under the Seventh Sense Botanical Therapy brand in 96 U.S. DSW stores. The company will supply 54,960 units of hemp-derived CBD products, which include muscle balms, body lotions, body washes¬†and foot creams.¬†
The move comes following a 10-week test period during which CBD products were sold in 10 stores. DSW sold 74.4 percent¬†of the supplied units during the test phase, which greatly exceeded the retailer’s expectations.¬†
The 2018 Farm Bill passed in December legalizes the cultivation of hemp and allows the sale of hemp-derived cannabidiol products across. It’s expected that more CBD products will hit the shelves not only of specialty stores, but also large retailers¬†such as Amazon.com, Inc. (NASDAQ: AMZN)-owned Whole Foods and Walmart Inc (NYSE: WMT).¬†
In this way, DSW is probably not the retailer that springs to mind when talking about CBD products. Yet it’s one of the largest footwear retailers in the U.S.¬†
Green Growth Brands’ agreement with DSW is a big milestone not just for the company, but the overall segment.¬†
Green Growth Brands said it plans to further expand sales of personal care CBD products through partnerships and make the products available in mall kiosks, as well as other brick-and-mortar and online stores.
The CBD company’s stock was up 3.4 percent at $4.19 at the time of publication, while DSW shares were down 1.7 percent at $26.05.¬†¬†
Photo by Anthony 929321/Wikimedia.¬†
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