After years of successful merchandising, Martha Stewart is relying on a new industry: hemp products.
The businesswoman and television personality will work with Canopy Growth, a leading marijuana and hemp producer, to develop a range of CBD products.
The company is focused on improving the lives of humans and animals, said Thursday. Currently, several clinical trials are underway. Stewart will advise the company on the development of this new line, starting with animal health products.
"I am excited to establish this partnership with Canopy Growth and share with them the knowledge I've gained from years of experience in the field of life," Stewart said in a statement. . "I am particularly looking forward to our first collaboration together, which will offer sensitive products for beloved pets."
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Canopy Growth has seen a steady improvement throughout 2019 in the performance of its shares. Starting the year at $ 28.92 per share, the company 's shares were opened at $ 47.02 on Thursday morning.
The company hopes to leverage Stewart's name and expertise, said Bruce Linton, chairman of the board and co-CEO of Canopy Growth, in a statement.
"As soon as you hear Martha's name, you know exactly who we are talking about," Linton said. "Martha is one of a kind and I'm really excited to be able to work alongside this icon to enhance our offer of CBD-based products in all categories, from humans to animals."
Stewart is not the first celebrity partner that the company has resorted to. Tweed, a subsidiary of Canopy Growth, partnered with Snoop Dogg in 2016. Currently, the acclaimed artist and Stewart are playing on a show called "Potluck Dinner and Party by Martha and Snoop".
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