Lifestyle Authority and TV Personality Martha Stewart has entered into a business partnership with Canopy Growth, one of the world's largest marijuana and hammock producers, to develop hemp-derived CBD products.
The announced partnership comes as Canada's largest cannabis producer to secure market share in the growing US and Canadian markets. The demand for marijuana and THC products has shot in Canada after deciding to legalize recreational use in October, leading to Lack of supplies across the country.
Interest in CBD, or cannabidiol, is already flourishing, which will probably only increase as more recognizable brands introduce their own CBD products into the market, although companies are banned by Food and Drug Administration from adding CBD to food, beverages, and dietary supplements in the United States does so anyway.
For plant breeders, partnerships with iconic names such as Stewart are the key to building consumer confidence. a taboo they must overcome, and that's where celebrity partnerships and joint ventures come in. Tilray, another Canada base t pot plant, recently collaborated with Authentic Brands to develop cannabis-infused foot cream, cosmetics and other consumer products.
"As soon as you hear the name Martha, you know exactly who we are talking about," shared Canopy Growth Chairman and co-director, Bruce Linton. "Martha is one of a kind, and I'm so excited to be able to work alongside this icon to sharpen our CBD product offerings across categories from human to animal."
For Canopy, Stewart's name gets hundreds of products on more than a dozen dealers. One can buy Martha Stewart shoes on Aerosoles, Martha Stewart organizational products at Staples, Martha Stewart roses at BloomsyBox and a Martha Stewart rolled and filled hampshire porchetta fried on Pat LaFrieda Meat Purveyors, to name a few.
Based in Smiths Falls, Ontario, Canopy Growth operates ten licensed marijuana and ham production sites with over 4.3 million square feet of production capacity. In the company's last quarterly income report, Canopy said it sold 10,102 kg (potty and paw equivalents) in October to December alone.