Love Hemp signs Asia distribution deal
The Love Hemp Group is taking its first step into Asia. The UK-based CBD and hemp-based wellbeing and skincare producer has signed a distribution partnership for the region with eCargo Holdings.
Love Hemp's initial launch into Asia will be anchored around both online and offline presences in Hong Kong and South East Asia retail channels.
It then plans to expand into India and Japan through strategic partnerships with e-commerce marketplaces such as Flipkart and Rakuten in 2022.
Listed on the Aquis Stock Exchange, the company recently changed its name to Love Hemp Group from World High Life, “to better reflect its focus on supporting the ‘best in class’ CBD brand as it embarks on a wider expansion of its core business and offering”.
The company claims pioneer status in premium high-quality CBD market, with over 40 products including oils, edibles, sprays, cosmetics, topicals and vapes. Its products are sold online across 70 websites and in over 2,000 stores, including Boots and Holland & Barrett.
Tony Calamita, CEO of Love Hemp Group, said: "This partnership is a significant step forward in our global growth strategy. The global CBD market is forecast to exceed US$20 billion by 2024, a 614% increase from today's valuation, with Asia representing a sizeable part of this market as regulations continue to adapt.
“Working with eCargo, an established e-commerce and offline sales enabler, allows us to effectively penetrate these Asian markets and quickly position Love Hemp as a trusted, high-quality brand”.
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