Martha Stewart, a television personality and lifestyle personality, has entered into a commercial partnership with Canopy Growth, one of the world's largest producers of marijuana and hemp, to develop derivative CBD-based products. hemp.
After several ongoing clinical trials, the company has announced its intention to take advantage of Stewart's consumer experience while exploring the effects of CBD on human and animal health.
"I am excited to be establishing this partnership with Canopy Growth and sharing with them the knowledge I have gained from years of experience in the field of life," Stewart said. "I am particularly looking forward to our first collaboration together, which will offer smart products to beloved pets."
The announced collaboration comes as Canada's leading cannabis producers struggle to gain market share in the nascent markets of the United States and Canada. Demand for products containing marijuana and THC exploded in Canada as a result of its decision to legalize recreational use in October, resulting in supply shortages across the country.
The interest in CBD, or cannabidiol, is already booming. This will probably only increase as more and more recognizable brands introduce their own CBD products to the market. Although the Food and Drug Administration prohibits companies from adding CBD to foods, beverages and dietary supplements in the United States, many do so anyway.
For weed growers, partnerships with such iconic names as Stewart are essential to boost consumer confidence. Even though people are becoming more comfortable with cannabis, some taboos remain to be overcome. And this is where partnerships between celebrities and joint ventures are useful. Tilray, another Canadian-based pot manufacturer, recently collaborated with Authentic Brands to develop foot creams, cosmetics and other cannabis-infused consumer products.
"As soon as you hear Martha's name, you know exactly who we are talking about," said Bruce Linton, president and co-CEO of Canopy Growth. "Martha is one of a kind and I'm really excited to be able to work alongside this icon to enhance our CBD-based product offering across all categories, from humans to animals."
For Canopy, Stewart 's name puts in the spotlight hundreds of products at more than a dozen retailers. Martha Stewart shoes can be purchased at Aerosoles, Martha Stewart products at Staples, Martha Stewart roses at BloomsyBox and Martha Stewart stuffed porchetta roast at Pat LaFrieda Meat Purveyors, to name a few. each.
Canopy Growth, headquartered in Smiths Falls, Ontario, operates 10 licensed marijuana and hemp production facilities with over 4.3 million square feet of production capacity. In its latest quarterly earnings report, Canopy said it sold 10,102 kilograms (10.1 tons) of pot and pot equivalent, just in October through December.