Despite continued struggles across the licensed cannabis industry as a whole, hemp-based CBD products have seen a consistently high level of demand since industrial hemp farming was legalized in the U.S. last year with the 2018 Farm Bill.
Capitalizing on that exploding market, Green Growth Brands Inc. (CSE: GGB; OTCQB: GGBXF) just celebrated the official opening of Seventh Sense location number 150. That milestone arrives after the very first Seventh Sense storefront opened for business back in February of 2019.
Focusing on CBD personal beauty and skincare products at mall kiosks with heavy foot traffic, the Seventh Sense brand expects to open a total of 200 locations by December as the holiday shopping season kicks off.
Commenting from the opening of kiosk number 150 at Polaris Fashion Place in Columbus, Ohio, Chief Executive Officer Peter Horvath had this to say:
Those 200 shops will be at the best locations in the best malls in the United States, giving us access to a billion footsteps per year, which is kind of amazing and blows your mind when you consider we didn’t exist seven months ago to any customers.
Green Growth initiated a text message campaign back in August for Seventh Sense customers to draw in repeat business, and enrollment in that SMS program has jumped nearly 200% in the last month.
The company is additionally preparing to launch a national media exposure campaign later in October with editorial media and out-of-home advertising focused on CBD products.
Other companies operating in the hemp-based CBD space have also seen an explosion of physical locations carrying products in recent months. Notably, Charlotte’s Web Holdings Inc. (TSX: CWEB, OTCQX: CWBHF) is now selling gummies and oils through 700+ The Vitamine Shoppe locations, as well as skincare products through Kroger stores such as Smith’s and Dillons across nearly two dozen states.
In other Green Growth news, the company is gearing up for a Q4 and fiscal 2019 earnings call that will take place with investors on Oct. 24.
The company’s stock price has seen a slight uptick to $1.13 this morning after several months of a solid downward movement, plummeting from $3.96 a share back in early May.