This Cannabis Stock Is All About Growth
Marijuana may not be legal across the country just yet, but that doesn't mean the hemp craze hasn't been taking off. Many companies have been getting in on cannabidiol-derived hemp products, which currently offer companies the best way to get into the cannabis market without having to worry about crossing state lines. From beverages to food products to personal care, cannabis companies have been looking for ways to offer a variety of CBD products to as many customers as possible.
One company that has done a terrific job of expanding its reach this year is Green Growth Brands (OTC: GGBXF). Last year, the Toronto-based company made a name for itself when it made a bid to buy Canadian producer Aphria (NYSE: APHA). Although that deal didn't end up panning out, the company has gone on to grow its business and expand into several areas.
Unlike many other cannabis companies, Green Growth has strategically focused on placing its Seventh Sense branded CBD shops in shopping malls throughout the country. It took the company just seven months to reach 100 mall-based locations, and it's planning to open even more. The company's Seventh Sense stores sell personal-care and beauty products infused with CBD. In addition to launching its own stores, Green Growth has partnered with Abercrombie & Fitch, American Eagle, and DSW, which is owned by Designer Brands. The moves have positioned the company in strategic locations frequented by younger consumers to help reach a key demographic.
Source Fool.com
