- Flora Growth recently expanded into Mexico and Spain with its Mind Naturals and Awe CBD skincare brands
- Additionally, the company ventured into the dry herb market through Vessel brand, its wholly owned subsidiary
- The recent licensing agreement with Tonino Lamborghini marks Flora Growth’s aggressive product diversification plan that has defined its 2021 calendar year
- All the decisions and moves made by the company so far have been geared toward growing the company’s market share, expanding its market reach, and increasing value for its shareholders
Flora Growth (NASDAQ: FLGC) completed its first traditional cannabis Initial Public Offering (“IPO”) in May 2021. Within seven months, the company has embarked on an aggressive market expansion and product diversification plan geared toward stamping its position within the cannabis brand space and creating value for its shareholders.
Its latest move was expanding into Mexico and Spain with its Mind Naturals and Awe CBD skincare brands (https://cnw.fm/GZRvY). These products, targeted toward younger consumers and the prestige market respectively, incorporate present-day consumers’ expectations by focusing on high-quality products with natural ingredients. They also represent what the company stands for, specifically regarding environmental conservation and the prioritization of social responsibility.
Flora Growth has also introduced new product offerings, evidenced by Vessel Brand’s entry into the dry herb market. Vessel Brand, a wholly-owned subsidiary, has made an aggressive push to expand into the market with its line of exclusive products including, but not limited to, all-in-one dry herb smoking kits with an inverted lighter (https://cnw.fm/o0oeJ).
Vessel Brand’s offerings add to Flora Growth’s line of products, which so far cover cosmetics, food and beverage, and hemp textiles. Additionally, a recent licensing agreement with Tonino Lamborghini, a luxury brand that operates in high-end designer products, beverage, hotel, and real estate segments, marked another significant move in Flora Growth’s diversification plan (https://cnw.fm/XLKzK).
This agreement will see Flora Growth produce and distribute Tonino Lamborghini-branded cannabis beverages for the North American and Colombian markets. It complements the definitive agreement with Avaria Health & Beauty Corp., reached in November 2021, to facilitate growth in sales, particularly for the KaLaya brand (https://cnw.fm/Rnzs8).
Throughout 2021, Flora Growth has made a constant and aggressive push to grow its product line, venture into new markets, and forge healthy partnerships and relationships with key players within the industry in order to attain increased sales and a more significant market share. The efforts have paid off so far, with key additions to the company’s product line and entry into strategic markets in Europe, Mexico, Colombia, and even North America. The strides made so far lay a firm foundation for the company as it moves into the 2022 calendar year, which promises to be bigger and better.
Flora Growth’s focus is on a global scale. As it works towards sustaining one of the largest outdoor cultivation facilities in the world, it is also slowly growing its market share, expanding its market reach, and stamping its position as a key player within the global CBD space.
For more information, visit the company’s website at www.FloraGrowth.ca.
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC
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