- The company is aiming to expand its presence domestically and internationally with its recent launch on the Canadian market
- Wildflower Brands’ online CBD store recorded 300 percent growth year over year, with 39 percent of monthly sales coming from repeat customers
- The lucrative U.S. CBD market is estimated to reach $22 billion by 2022
Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF), a public cannabis company developing brands that focus on plant-based wellness and health products, is quickly expanding its market presence and looks intent to dominate the CBD space by providing premium branded products through a distribution network comprising of more than 800 locations, as well as a successful online store, according to an October 2019 investor presentation (http://cnw.fm/r7DAz).
Operating out of Washington State, the company markets its CBD products to retailers in the health and wellness space under the slogan “Plants Heal.” Its distribution network in the U.S. includes 200+ retailers in Washington State and 20+ retailers in New York City. In partnership with Retail Worx, the company has established shop-in-shop retail locations in the center of New York City, which complement the introduction of their products at Bridges General’s stores in New York City and San Francisco. Apart from the full range of CBD products marketed under the Wildflower Wellness brand, Wildflower by Bridges General stores will have several exclusive product offerings.
Wildflower products are available in over 260 Dillard’s department stores (http://cnw.fm/I3JQq), as well as at 100 Earthbound Trading locations nationwide, 20 premium health and wellness stores throughout Manhattan, and wellness guru Joel Warren’s Saks Fifth Avenue salon (http://cnw.fm/f7cJ4). The company recently completed the strategic acquisition of Canadian-based City Cannabis Corp, which gives it access to four retail stores in Vancouver, British Columbia. Two of these stores were opened in August 2019 (http://cnw.fm/sTW9b).
Overseas, Wildflower has already completed its first commercial export to the U.K and has started selling its products at high-end retailer Selfridges. Additionally, the company has signed a distribution agreement to begin selling in Poland and is undergoing a packaging compliance processing in Italy. Wildflower also expects to send its first shipment of products to South Africa in early November 2019.
In terms of online sales, the company receives an average of 900 orders per month and achieved a 3.44 percent conversion rate in October 2019. Its online store boasts 39 percent of monthly sales from repeat customers and a growth rate of 300 percent year over year.
These developments, paired with the company’s commitment to delivering only high-quality wellness-focused CBD infused products to the discerning consumer, have had a positive impact on Wildflower’s sales figure. According to the October 2019 investor presentation, the company’s retail sales went up 156 percent year over year. In 2019, Wildflower issued shares worth $136.9 million, options of $10.9 million ($0.20-$1.55), and warrants of $15.2 million ($0.75-$2.25).
Wildflower remains focused on its strategy to expand into large retail chains and launch new products both in the U.S. and internationally. As part of the company’s domestic expansion plans, a 10,000-square-foot manufacturing facility to be completed in November is expected to significantly boost production.
These moves position Wildflower Brands for sustained growth and market prominence in the ever-growing cannabis and CBD space. Analysts anticipate the U.S. CBD market to reach $22 billion by 2022 (http://cnw.fm/l6L0l), while the cannabis market as a whole to top $75 billion by 2030 (http://cnw.fm/cyZB6). The CBD market compound annual growth rate (CAGR) is expected to more than double and reach 107 percent by 2023 (http://cnw.fm/Oy7N7).
For more information, visit the company’s website at www.WildflowerBrands.co
NOTE TO INVESTORS: The latest news and updates relating to WLDFF are available in the company’s newsroom at http://cnw.fm/SUN
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