Looks like ELLXF CEO correct on Big Box future.
From yesterday's article:
" Where I really think the growth will come will be in the brick and mortar stores”
– Paul Benhaim, Elixinol CEO
“Right now our wholesale lines are spread through a number of different channels. We sell to doctors, naturopaths, physiotherapists, all the way down to yoga mums, vegans and paleo’s, which has spread our risk and given us a strong foundation for growth.”
“However, I really believe that future growth will be in big box stores. We’ve had a number of conservations with those outlets over the last months, which have really intensified since the passing of the farm bill last year.”
“So instead of being under the guise of the DEA, it’s now under the guise of the FDA. Now the FDA is much more amenable and communicative than the DEA was, but they still need to communicate clearly about what we can and cannot sell.”
Benhaim believes that once the FDA clarifies its’ stance, then Elixinol will be able to move forward with some of the new products it has been developing. More importantly, however, it will also give big-box distributors such as Walgreens, CVS, Target the confidence to proceed with future partnership deals.
“We are capable of supplying such large customers because we have a strong supply chain, a new production facility that’s just been commissioned which will more than double our current capacity, and land next to it with advanced plans to grow even more,” he said.
“Our wholesale channel has the potential for even ten times the growth in that space alone, so that really will be a catalyst for Elixinol’s future growth.”
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