Entertainment Canopy Growth partners with Martha Stewart

23:46  17 september  2020
23:46  17 september  2020 Source:   finanzen.net

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The buzz is true: Martha Stewart partners with … Share this A year and a half later, she’s taking the plunge – kind of. Stewart is joining the Canadian marijuana company Canopy Growth as an adviser to help them develop cannabis products for people and their pets, according to a news release.

Canopy Growth and Sequential Brands Group Announce Collaboration on CBD Product Development. Martha Stewart to join as advisor on hemp-derived CBD products SMITHS FALLS, ON and NEW YORK, Feb.

What do cannabis and Martha Stewart have in common? First of all, you don't want to think too much, but the TV chef and entrepreneur is the new face of the CBD group Canopy Growth. A separate product line has already been launched.

Spencer Platt/Getty Images © Provided by Finanz.net Spencer Platt / Getty Images

• Martha Stewart promotes CBD products

• Cooperation between Stewart and Canopy Growth

• Combating stress with CBD

Martha Stewart promotes CBD products

The Canadian company for medical Cannabis Canopy Growth is the largest company in the industry with a market capitalization of around six billion US dollars.

Now the company can look forward to none other than Martha Stewart, also known as "America's Best Housewife", as the company's new face. As Canopy Growth announced in an official press release, the cooperation with Stewart relates to a new cannabidiol (CBD) product line, which processes female hemp plants in various cosmetic and wellness products.

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As previously reported in January 2019, Canopy Growth has developed diverse product offerings specific to hemp-derived CBD and the Company looks forward to working closely with Martha Stewart as they further develop and introduce these products to market in the future.

As previously reported in January 2019, Canopy Growth has developed diverse product offerings specific to hemp-derived CBD and the Company looks forward to working closely with Martha Stewart as they further develop and introduce these products to market in the future.

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Stewart specifically markets "Gourmet Wellness Gummies", oils and softgels which, according to the company, have been specially developed to meet the wishes of celebrities. "Inspired by ingredients from Martha's own kitchen, products with a natural taste from CBD isolates are made and created in the USA. The result is pure, safe and great-tasting CBD products that can be easily integrated into the daily wellness routine", writes the company in the press release.

Cannabis goes mainstream

CBD companies advertise that they can treat pain and psychosis in a natural way without having to put up with the usual high feeling of cannabis. In recent years there has been a real hype about these products and especially in the USA they are becoming more and more mainstream.

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The U.S.-listed shares of Canopy Growth Corp. undefinedundefined gained 1.2% in premarket trading Thursday, after the Canada-based cannabis company The new line of natural gourmet flavored gummies, softgels and oil drops are formulated by Martha Stewart . "I've found that CBD supplements

Canopy Growth Founder and Co-CEO Bruce Linton sits down with "Squawk on the Street" to discuss the cannabis industry and his company's new partnership with

Canopy Growth CEO David Klein predicts a rapid rise in sales of CBD products. According to Bloomberg, he expects the 3,000 or so cannabis companies to turn over $ 10 billion annually by 2023.

The new products have been on sale since September 10th. But the cooperation with Stewart does not end with this product line; further Stewart CBD products are to come onto the market by the end of the year, but these are then intended for pets. According to Klein, this segment has the potential to bring in an additional 600 million US dollars at Canopy.

A competitive market

With Martha Stewart as an advertising medium, the company hopes to make its own products more socially acceptable and distribute them accordingly. Klein thinks the timing of the launch couldn't have been better. In an interview with Bloomberg, for example, he let us know that "the current market entry comes when there is a high level of stress," which can be attributed to the corona pandemic.

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Martha Stewart Blazes Trail with Canopy Growth Partnership . Bestselling author and television personality Martha Stewart has joined forces with Canopy Growth (CGC), a cannabis company, to market cannabidiol (CBD) products, according to a Thursday release from the company.

Stewart just joined her infamous co-host in partnering with Canopy Growth Corp., one of Canada’s biggest weed corporations. Snoop and Martha have long been a favorite pop culture pairing, ever since the emcee made a 2008 appearance on Stewart ’s TV show to make mashed potatoes while

Accordingly, Stewart markets the new product line in the press release as a solution to everyday stress: "I have found that CBD food supplements are a simple way to improve my own health and well-being. It also makes everyday stress easier to manage."

It remains to be seen whether Canopy's and Stewart's strategy will work. The industry expert and managing director of the Brightfield Group Bethany Gomez, however, doubts Klein's forecasts. As he comments to Bloomberg, the cannabis market is an extremely flooded place, there is a lot of struggle to establish yourself there.

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The industry's growth figures also fell significantly in 2020. While sales of CBD products grew 562 percent in 2019, according to Bloomberg, this year it was only 14 percent. In addition, according to Gomez, hemp prices have fallen by 20 to 40 percent due to an oversupply.

"Bringing someone like Martha Stewart on board could potentially entice more people into the area," admits Gomez. Henry Ely / Finanzen.net Editor

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