On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

Flora Growth Corp. (NASDAQ: FLGC) Distribution Deal Increases CBD Product Reach to Mexico, Latin America

  • Plant-based wellness and lifestyle brand cultivator Flora Growth Corp. is building on its initial revenues from 2021 with distribution expansion into Mexico 
  • The company will initially distribute a portfolio of 12 Mind Naturals skincare products through e-commerce but intends to eventually locate its products in brick-and-mortar stores
  • The company’s deal with Mexican department store Coppel gives it a reach nationwide through its online marketplace and, perhaps eventually, Coppel’s 1,253 stores
  • Flora Growth’s products will also be distributed through global retail giant Walmart’s e-commerce platform — one of the leading retail chains in Central America
  • The company also has an outdoor cultivation segment with operations based in central Colombia, where cannabis can be grown at a fraction of the cost of cultivation in the United States, helping Flora Growth to boost its potential profitability and competitiveness

Flora Growth (NASDAQ: FLGC) is expanding its cannabis-derivative brand presence in Latin American countries through cannabidiol (“CBD”) product distribution deals with global retailer Walmart’s online marketplace and Mexican department store chain Coppel’s e-commerce outlet. 

Flora Growth’s Mind Naturals skincare brand, built with premium CBD and other high-quality ingredients, as well as the company’s Awe CBD skincare brand, began rolling out in Spain and Mexico a few months ago. Mind Naturals will be distributing a portfolio of 12 products through its agreement with Walmart and Coppel, leading retail chains in Mexico and Central America. 

“This agreement represents our first foray into the Mexican market and furthers our global foothold as a leader in plant-based wellness and lifestyle brands,” Flora Growth CEO Luis Merchan stated (https://cnw.fm/v80YI). “As the cannabis market continues its rapid expansion across the globe and into various sectors, we are poised to meet the needs of the market at every touch point.”

The sales launch will initially take place through e-commerce, but the agreement includes plans to place the Mind Naturals products in brick-and-mortar stores throughout Mexico. Coppel has 1,253 stores in the country. 

The Mind Naturals brand is designed to cater to younger consumers beginning a skincare regimen, whereas the Awe CBD brand is aimed more at the prestige market, according to the company (https://cnw.fm/DekXT).

Flora’s goal is to become a plant-based wellness and lifestyle collective, distributing pharmaceutical, cosmetic and nutraceutical products around the world from its 100-hectare (about 247-acre) Cosechemos cultivation facilities in central Colombia. 

Cosechemos operates economically in one of the world’s most fertile locations for legal cannabis production, growing cannabis flower at what the company estimates to be around 6 cents per gram of dried product. 

The price in the United States ranges from 50 cents to $2, according to a CNN news report (https://cnw.fm/ATJrR). 

“We wanted to grow cannabis in an outdoor way at the lowest production cost in the world,” Merchan told Investor Brand Network’s Bell2Bell podcast earlier this month (https://cnw.fm/Vs1fp). “We selected Colombia, one of the most beautiful geographies located alongside the equator in the world. Of course, we built a world-class team of agronomists who are helping us grow cannabis in an organic way at a cost that cannot be competed with anywhere, worldwide.”

Merchan said 2021 was a foundational year for the company as it established its infrastructure to capitalize on its first revenues and set the stage for continued growth. 

“In 2022, we’re going to see the export of dried flower commence. We’re going to see the export of derivatives into countries such as Australia, South Africa and some portions of Europe, and that of course will also be complemented by organic growth in our portfolio products,” Merchan told the podcast. “We feel very strongly about the growth in our food and beverage category, which continues to increase, and we’re also going to penetrate the North American market with both special brands and other products in our portfolio that are being well received by the North American consumer.” 

For more information, visit the company’s website at www.FloraGrowth.com.

NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.cannabisnewswire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.cannabisnewswire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

Archives

Select A Month

Official NewsWire Relationships

Alternative Products Expo Benzinga Cannabis Capital Conference Cannabis Business Summit & Expo 2019 Cannabis Drinks Expo Cannabis World Congress & Business Exposition Cannexpo Marigold PR MjMicro Conference New England Cannabis Network O'Cannabiz Conference & Expo Tether BudTender Tether BudTender Appreciation Week

CannabisNewsWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 303.498.7722