July 11, 2019 8:08 pm
American Eagle Outfitters will begin selling CBD personal care and wellness products at nearly 500 of its stores and online, according to a release from Green Growth Brands (GGB), the clothing retailer’s partner in the new venture. The move by American Eagle marks the latest foray into the burgeoning CBD market by a major U.S. retailer.
Under the partnership, GGB, an Ohio-based cannabis and CBD company with a family of brands including Seventh Sense Botanical Therapy and Meri + Jane, will create exclusive personal care products for American Eagle. The line will include CBD-infused lotions, muscle balms, and aromatherapy products, with sales expected to launch in October of this year.
“We are very pleased to be partnering with American Eagle, a leader in the specialty retail space,” said Peter Horvath, the CEO of Green Growth Brands. “GGB provided the expertise necessary to develop the product formulations and packaging to create a really special line of products.”
GGB products are sourced from licensed U.S. hemp farmers and produced in accordance with the 2018 Farm Bill, according to the company. GGB sells and distributes its CBD products only in jurisdictions that permit such sales.
Other Retailers Already Onboard
GGB has already announced deals to provide CBD products with two other major retailers since the passage of the 2018 Farm Bill in December that legalized hemp agriculture and products made from hemp, including CBD. The company will also be distributing CBD products to American Eagle’s competing apparel retailer Abercrombie and Fitch and GGB also recently announced a deal with Designer Brands, Inc. to provide a line of cannabidiol products for DSW shoe stores.
GGB is also planning to open stores at shopping malls owned by Simon and Brookfield. Simon has plans to host 107 GGB shops, while Brookfield will be opening about 70 locations at its shopping centers.
Other national retailers including CVS, Rite Aid, and the Vitamin Shoppe have also entered the new market for CBD products. Even burger chains and regional gas stations are getting in on the action, despite the fact that the FDA is still in the process of developing regulations for the CBD products industry.
GGB Extends Its Reach
On Tuesday, GGB announced that it had entered into a securities acquisition and partnership agreement with Moxie, a U.S. cannabis company with operations in several states including California, Nevada, Arizona, Pennsylvania, and New Jersey. Its products, including the High Times Cannabis Cup winning DART vaporizer, are available at more than 250 cannabis dispensaries. The $310 million deal with Moxie continues GGB’s plan to become a diversified player in the U.S. legal cannabis market.
“In the short time since we began operations, we have built a business comprised of highly experienced management and merchant teams and cannabis experts, who have created successful CBD and MSO businesses. The coming together of Moxie and Green Growth Brands is anticipated to complete the circle,” said Horvath in a press release. “As a ‘360 degree’ cannabis company, we expect to bring an expertise to each segment of the combined business: cannabis dispensaries, vertically-integrated and wholesale CBD, and wholesale cannabis consumer products.”
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