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ISBG Announces Accelerated Restocking Schedule Due to Strong Demand for CBD Inventory
July, 24 2019 08:00 AM | GlobeNewswire | More on ISBG
LAS VEGAS, NV, July 24, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- International Spirits & Wellness Holdings, Inc. (OTCMKTS:ISBG) (“ISBG” or the “Company”), a top-tier brand incubator in the Global Wine & Spirits and CBD-Infused Products markets, is very pleased to announce to shareholders that the Company has been forced to move to restock inventories of popular CBD-based products ahead of schedule due to unforeseen levels of demand. This comes on the heels of new analyst research highlighting a clear jump in CBD demand (the Brightfield Group now puts year-over-year growth in CBD-based product sales at 700%) correlated with a shift to sales in mainstream retails stores, where the Company is focused on generating a further acceleration in top line growth.
“We have seen a market response for our P19 CBD products that goes well beyond our expectations,” notes ISBG CEO Terry Williams. “The whole spectrum of products has outperformed. We chalk this up to two main factors: better-than-expected macro market dynamics – specifically the big jump in overall CBD demand in 2019 toward a pace of $5 billion in CBD-product sales – as well as strong results from our product-specific branding process. In other words, we have executed well in a favorable context.”
Management notes that the Company is moving toward its next launch of a new CBD-based product. As stated in Company materials and communications at the start of the year, ISBG has been committed to periodically releasing new wellness products throughout 2019 to further advance its Health and Wellness segment, which is projected to generate a strong percentage of top and bottom-line growth for the Company over coming quarters.
In addition, ISBG management believes that the increased mainstream adoption of CBD-based products has shifted the paradigm from an exclusively ecommerce-driven marketplace to one that has significant promise in physical retail stores that serve local markets. This point was echoed by the Brightfield Group in its most recent analysis.
As such, the Company has begun its push to establish the P19 brand as a core local retail CBD consumer choice.
Mr. Williams continued, “In keeping with our commitment to roll out new products throughout the year, we are getting very close to our next release of a new CBD-based offering in the P19 brand family. We are also working hard to nail down terms with local physical retailers. The CBD-based product marketplace has been almost exclusively an ecommerce phenomenon. But there are plenty of consumers that simply don’t do business that way. For example, ecommerce represented only 14% of retail sales last year, according to the Department of Commerce. That means 86% of sales of everything happen somewhere basically foreign to CBD. We are working tirelessly to execute on a strategy that gives us an edge in this gaping opportunity.”
About ISBG: International Spirits & Wellness Holdings, Inc. (ISBG) is an authorized importer, licensor, and marketer of premium beverage brands, with sales of innovative products and brands worldwide. Based in Nevada, the Company's expertise lies in the strategic development and aggressive early growth of its brands and the establishment of these brands as viable and profitable as an incubator. ISBG intends to nurture emerging brands through critical stages of market development, including conceptualization, go-to-market strategy, supply chain and logistics engineering, integrated marketing, and distribution. In addition, ISBG has now established itself as a health and wellness company with a focus on reshaping the CBD products market through state-of-the-art nanotechnology processes, developing a wide range of nano-infused CBD gummies and beverages formulations. These products will be sold through the Company’s website, as well as through established wholesale and retail distribution channels. The company has also partnered with Bengala Technologies to develop and commercialize enterprise and B2B software technology products targeting the logistics and supply-chain marketplace. Contact:
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International Spirits & Wellness Holdings, Inc.
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