Green Growth Brands, a cannabis company headquartered in Ohio, has partnered with Simon Property Group to open at least 100 CBD shops in malls across the U.S. Simon Property Group is the biggest owner of malls in the U.S.
John Rulli, the President of Simon Malls, revealed in a press statement that the shopping experience provided by Green Growth Brands was exactly what they are constantly on the lookout for, and that was why they were adding GGB shops in the malls owned by Simon Property Group.
The two entities intend to work together to open a minimum of 108 CBD shops in 2019, and then further expansion will take place in the coming years.
Castleton Square Mall in Indianapolis will have the honor of hosting the first Green Growth Brands CBD shop in March this year with other shops following closely in the coming months.
Green Growth Brands is also having discussions with several other property developers so that a total of 300 CBD shops can be opened during this year. This number includes the 108 shops that will be opened in the malls owned by Simon Property Group.
This partnership between Simon Property Group and Green Growth Brands offers each side unique benefits. For example, Green Growth Brands will have a chance to popularize its CBD wellness products by taking advantage of some of the prominent malls owned by the property group. Such prominent shelf-space will deepen awareness about CBD.
As for Simon Property Group, they will benefit by having a large company as a tenant across the U.S. This is a huge benefit because mall owners have been facing the nightmare of having large clients closing shop or scaling back the number of locations where they operate. A clear example is Sears that went bankrupt.
It is worth noting that the signing into law of the Farm Bill 2018 legalized hemp and the different products that can be got from it, such as cannabidiol (CBD).
However, the U.S. Food and Drug Administration (FDA) still prohibits the addition of CBD to foods and drinks. This may make it hard for restaurants and other businesses to legally sell CBD-infused cocktails and other drinks.
The CBD shops set up by Green Growth Brands can be a way to provide high-quality CBD products so that buyers can make their own CBD drinks if they cannot access them at coffee shops or restaurants.
Therma Bright, Inc. (TSX.V: THRM) (OTC: THRBF) and TransCanna Holdings Inc. (CSE: TCAN) congratulate Green Growth Brands upon this landmark deal it has finalized with Simon Property Group.
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