$MJNA @ TheStreet. Blake Schroeder, CEO of Kannaway, describing his company's beauty line as an "entry way" product for new markets and more acceptable by the mainstream consumer.
Beauty "went from something we didn't talk about at all at in the company to this becoming a significant part of our sales," says Schroeder in an interview with Real Money. "As we continue to expand, this is a product that we can lead with that's going to have less regulatory issues than other cannabis-based products."
Last year, the beauty line represented less than 5% of Kannaway's business, until the company decided to refocus. The beauty segment shot up to almost 11% of the company's sales.
San Diego-based Kannaway, has six beauty products derived from cannabis, including a detox soak, a toner, serum and an exfoliant. It launched its first beauty product only 2.5 years ago and is fast becoming one of the early movers in the European space.
Kannaway is owned by a publicly listed company Medical Marijuana Inc. $MJNA , whose stock price didn't rise above $1 over the past five years.
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