- PLUS works to establish itself as strong CPG company in most valuable part of supply chain in largest market
- From the outset, company has chosen to be “hyperfocused” on building brand in CPG cannabis space
- Plus Products doing exactly what it set out to do: capture top product spots and controlling market share
Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF), a hemp and cannabis food company using nature to bring balance to consumers’ lives, is following a strategic plan to build the world’s strongest cannabis brand. The company’s plan includes firmly establishing itself as a strong CPG company in the most valuable part of the supply chain in the largest market – California – then moving that successful formula to new markets, products and consumers (http://cnw.fm/O0fDc).
In identifying key steps in its plan, PLUS conducted extensive research. As a result, PLUS noted that the strongest companies in the world are typically built by focusing on becoming the best at one thing. As prime examples of this, PLUS cites Cargill in the agriculture sector, Coca-Cola and Budweiser in the Consumer Packaged Goods (CPG) sector and Target and Walgreens in the retail sector. With those companies as examples, PLUS chose to become “hyperfocused” on building a brand in the CPG cannabis space, because CPG brands have the highest value potential in traditional industries.
After continued analysis and study, Plus Products notes in its investor presentation that brands are typically built on the foundation of an iconic product. PLUS has been determined to establish an iconic product in the edibles sector, which offers the most defensible price premiums. The company has done exactly what it set out to do: offering iconic cannabis gummies – Plus Uplift and Plus Unwind – that have been ranked the top two best-selling cannabis products in California, controlling 21% of the gummies market share in the state.
With the first step of its plan successfully completed, PLUS is moving forward with the next, which is to grow a national brand through new markets, products and consumers. The company has partnered with well-known celebrity John Legend and direct-to-consumer mattress pioneer Casper to launch into the national, direct-to-consumer market, providing cannabis consumers in 43 states access to the best-selling cannabis gummies in California.
In addition, Plus Products crossed state lines recently when it expanded into Nevada’s recreational THD market through a manufacturing partnership with TapRoot Holdings Inc. “Nevada’s expansive tourism and meaningful size make it an ideal next step for building a national THC brand,” the company announced.
PLUS intends to expand into further jurisdictions outside of California and Nevada using a similar partnership model to ensure quality and consistency across all markets. Key focus markets for the company include Michigan, Arizona, Massachusetts, New York and Illinois, which combined represent a potential $5.45 billion-dollar market for PLUS. In addition, the company is also working on building its brand globally by exploring potential international partnerships. Plus Products’ savvy, deliberate approach to success and growth has firmly established the company as a top player in the burgeoning industry.
For more information, visit the company’s website at www.PlusProducts.com
NOTE TO INVESTORS: The latest news and updates relating to PLPRF are available in the company’s newsroom at http://cnw.fm/PLUS
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