Abercrombie & Fitch Expanding its CBD Partnership to Meet Demand


 
 
08:05 07/07/2019











When it comes to cannabis, major retailers are just beginning to jumping on board.



Green Growth Brands Inc. GGBXF for example, just announced it expanded with Abercrombie & Fitch to sell Seventh Sense CBD products in over 160 stores. 



“Abercrombie & Fitch understands how to connect with their target-customer, not just in the U.S. but across the globe,” said Green Growth Brands CEO, Peter Horvath. “They have incredible brand recognition in our current target markets and beyond, and we are excited at the prospect of building our partnership together.”



Neiman Marcus, Sephora, Vitamin Shoppe, Kroger, Barney’s DSW, CVS, and Walgreen’s are just a few of the top retailers that are jumping into the CBD space, given sizable demand. 



Even mall owners are signing deals with cannabis companies, like GGB.



For example, GGB currently has 70 shops open at Brookfield Properties’ U.S. malls.  “We know that consumers prefer to buy personal care and beauty products from physical stores, and this partnership will allow us access to millions of consumers,” GGB CEO Peter Horvath noted.



Simon Properties is on course to open 108 locations selling CBD products, too. 



Then again, this really comes as no surprise.



Especially as American opinions on cannabis shift.



In fact, according to The General Social Survey conducted by NORC at the University of Chicago, 61% of those surveyed support legalization. That’s up from 57% in 2016.  A Gallup survey found that 66% of Americans are in favor of legalization. That’s up from just 60% in 2016. A Pew survey found that 62% of Americans want to see cannabis legalization in the country, as compared to just 57% in 2015.



Plus, we have to consider the CBD market is already booming with the potential to become a $22 billion market, according to The Brightfield Group.





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