Abercrombie initially tested CBD products made by Green Growth Brands Inc (OTC: GGBXF) at 10 stores in May and is ready to expand the relationship across more than 160 core Abercrombie & Fitch stores.
Abercrombie will sell CBD-infused body lotions, muscle balms, lip balms and sugar scrubs. Green Growth's products are made with CBD, which is derived from hemp and was made legal in late 2018. Supporters of CBD argue it can help with insomnia, pain and inflammation.
Why It's Important
Abercrombie is a brand that "understands how to connect" with its core customer both in the U.S. and internationally, said Green Growth Brands CEO Peter Horvath. Coupled with the company's "incredible" brand recognition, the CBD company is "excited at the prospect of building our partnership together."
Cannabis-focused research firm Brightfield Group as saying the CBD market could expand to a billion industry by 2022.
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