$NUGS expands #cannabis business to retail #CBD https://finance.yahoo.com/news/cannabis-strategic-ventures-enter-lucrative-100000641.html
Cannabis Strategic Ventures to Enter Lucrative CBD Retail Sector with "FLORAH" CBD Lifestyle Boutiques
GlobeNewswire•May 1, 2019
LOS ANGELES, May 01, 2019 (GLOBE NEWSWIRE) -- via NetworkWire -- Los Angeles-based Cannabis Strategic Ventures Inc. (NUGS) today announces its expansion into the cannabidiol (CBD) retail space through ‘FLORAH,’ the newest addition to the Company’s operational and investment portfolio. FLORAH is a concept boutique that educates consumers of the benefits of CBD while a curating a best of selection of CBD lifestyle, wellness, beauty and pet products. The company’s flagship location is on Melrose Ave in West Hollywood.
“Growth of the CBD retail sector is accelerating and we expect to show leadership in the space,” said Simon Yu, CEO, Cannabis Strategic Ventures. “Now that we have secured financing and a retail location, we will diligently work to procure the best CBD products available and prepare for our full brand roll-out and summer grand opening.”
The retail market for CBD products is expected to reach $16 billion by 2015, a significant increase from an estimated $2 billion last year, according to leading cannabis investment bank Cowen Inc. Leading categories of this growth are nutraceuticals, tinctures, pain relieving creams and beauty treatments. Perhaps most compelling is that nearly 7% of the 2,500 individuals polled in Cowen’s research indicated they had already purchased products containing CBD; an even larger percentage expect to purchase products in this class.
Amid this market growth, entering the CBD retail sector will be a strong addition to Cannabis Strategic Ventures’ portfolio, which includes Asher House Wellness Pet CBD products; Fitamins, a proprietary health and wellness formula containing 25 mg of hemp-derived THC-free CBD; LYXR, a line of luxury skincare products derived from hemp CBD and other dynamic ingredients; PureOrganix, a line of high-quality organic cannabis concentrates; and Bud Hire, a staffing firm that allows cannabis entrepreneurs to outsource administrative and staffing functions.
“While major CBD retailers have already announced plans to carry some of the products we currently do or intend to market, we believe CBD-centric retailers that provide educational component around CBD products will do exceptionally well. We plan to announce our full strategy to compete in this arena in the near future,” added Yu.
The Company also recently announced NUGS Farm North, its major cannabis cultivation operations on six acres in Northern California.
About Cannabis Strategic Ventures
Cannabis Strategic Ventures is a Los Angeles-based firm that incubates, develops and partners with category leaders within the cannabis sector. The Firm's NUGS brand experience provides operational and financial strategic partnerships and a range of essential services to emerging and existing cannabis consumer brands. The company recently completed a name and symbol change from Cascade Energy, Inc. Cannabis Strategic Ventures is publicly traded on the U.S. Over the Counter Market with the stock symbol NUGS.