Flora achieves first cbd sales in the US through flora beauty
Flora Growth Corp. (“Flora”, “Flora Growth”, or the “Company”) is pleased to announce the official launch of sales of Flora Beauty products in the United States. These early sales are being generated exclusively through e-commerce channels and serve as a soft launch of Flora Beauty. “Today marks an exciting day for Flora Growth as we generate our first revenues from the sale of CBD products,” commented Flora Growth’s CEO, Damian Lopez. “We promised investors we would generate revenue in 2020 and we have now officially delivered on our commitment.”
About Flora Beauty Launch
As of today, Flora Growth’s beauty division, Flora Beauty, has commenced sales of its skincare brand, Mind Naturals, through the e-commerce platform www.mindskincare.com. Mind Naturals is a Colombian skincare line that uses premium CBD as the base for its inaugural collection. The brand was created to celebrate nature and mindfulness and reinforces the importance of celebrating small moments in our daily routine. The first collection of the brand launches with four products:
- Unwind Moisturizer – US$22 per unit
- Refresh Cleanser – US$12 per unit
- Decompress Eye Cream – US$18 per unit
- Relax Hydrating Mask – US$14 per unit
“The skincare market in the U.S generates US$17 billion in annual revenue and is one of the best performing categories in beauty,” commented Flora Growth’s President of Consumer Goods, Luis Merchan. “Consumers today are looking for products to help them relieve burnout and manage an increasingly complex life. At Flora Beauty, we believe healthy skin is the foundation of well-being and balance. The launch of Mind Naturals is the first step to help our consumers find a healthier, well-balanced life.” Mind Naturals inaugural line exemplifies Flora Growth’s socially conscious approach to the industry by creating products that are paraben and phthalate free, vegan, and absent any ingredients that utilize animal-testing. Further, all packaging is designed to be sustainable – for example utilizing sugar cane tubing – to help reduce the environmental impact and support our sustainability goals. The grand launch marketing campaign for Mind Naturals is scheduled for September of 2020 and will target top-designated market areas in the U.S., including New York, Miami, and Los Angeles. The brand will continue to expand its portfolio with the launch of lip balm and rose water in time for the 2020 holiday season. We expect that Mind Naturals will expand the distribution of its product portfolio into marketplace retail partners and through brick and mortar retail locations in 2021 in both U.S. and South American markets.
About Flora Beauty
Flora Beauty is Flora Growth’s beauty division. The division markets natural cosmetics and skincare products with CBD through two lifestyle brands focused on quality, transparency, and sustainability.
About Flora Growth Corp.
Flora Growth is a vertically integrated cannabis company striving to be a globally recognized cannabis brand by leveraging low-cost production of cannabis to supply CBD oil to its portfolio of consumer and medical brands.
For further information, contact:
Evan Veryard Vice President, Investor Relations +1 416 571 9037
Cautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the Company’s operations, sales of Flora Beauty’s products in the United States, the grand launch marketing campaign for Mind Naturals, the expansion of Mind Naturals’ product portfolio into marketplace retail partners and through brick and mortar retail locations in 2021 in both U.S. and South American markets, and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
CAUTIONARY STATEMENT CONCERNING FORWARD LOOKING STATEMENTS
This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this document and other statements made from time to time by us or our representatives might not occur.