Lifestyle Maven Advises Canopy Growth on CBD Products – LPC
Martha Stewart, who is famous for her lifestyle brand Martha Stewart Living, is bringing her domestic touch to CBD products. A CNN report (please see link at the end of this LPC article) states that Stewart has agreed to join Canopy Growth to help develop CBD products.
In a press release, Stewart said, “I am delighted to establish this partnership with Canopy Growth and share with them the knowledge I have gained after years of experience in the subject of living.”
Co-CEO Bruce Linton seems equally delighted to have Stewart working with Canopy Growth to develop CBD products.
“As soon as you hear the name Martha, you know exactly who we’re talking about,” said Canopy Growth co-CEO Bruce Linton. “Martha is one of a kind and I am so excited to be able to work alongside this icon to sharpen our CBD product offerings.”
The first CBD product will reportedly be developed for “people’s beloved pets,” Stewart said. It’s not clear what exactly that CBD product might be beyond “sensible” in her words.
CBD Products Derived from Hemp – LPC
Stewart’s arrival comes soon after Canopy announced it will be opening a hemp operation in southern New York state after the US legalized hemp. This would be close to its business partner, Constellation Brands, which was also present for the Stewart announcement. In fact, much of what Canopy and Stewart will be developing is hemp-based CBD, which has much less THC than cannabis.
Sequential Brands Group, the company that bought Martha Stewart Living Omnimedia, in 2015, was also at the announcement. It’s another indication that CBD products including cannabis-based beauty products are hitting the mainstream. Even Barney’s is getting into the action with its “The High End” luxury cannabis retail store.
Perhaps not coincidentally, Canopy Growth has already partnered with rapper and business mogul Snoop Dogg. Canopy’s Tweed Inc. markets Leafs by Snoop cannabis products. The two celebrities host “Martha & Snoop’s Potluck Dinner Party” on VH1 in the US.
Sequential Brands Group’s stock jumped 30 per cent on the news of the CBD product development partnership, while Canopy’s rose four per cent.
This editorial content from the LPC News Editor is meant to provide analysis, insight, and perspective on current news articles. To read the source article this LPC commentary is based upon, please click on the link below.