Cannabis company Green Growth Brands Inc., is partnering with fashion retailer Abercrombie & Fitch Co. to sell its CBD-infused bath bombs, lip balm, lotions, body scrubs, and other body-care products.
The deal, announced Tuesday, will initially see Green Growthâ€™s Seventh Sense Botanical Therapy products sold in 10 Abercrombie & Fitch stores in Massachusetts, California, Colorado, and Nevada.
The products are made with non-intoxicating CBD derived from hemp, which was legalized with the U.S. farm bill in December and is said by proponents to help with health issues ranging from insomnia to pain and inflammation.
Columbus, Ohio-based Green Growth already sells at DSW shoe stores personal-care products containing CBD.
Additionally, Green Growth has its Seventh Sense shops in malls owned by Indianapolis-based Simon Property Group Inc., with 108 scheduled to open this year.
Green Growth earlier this year signed a licensing agreement with Authentic Brands Group and its Greg Norman brand. Norman, a World Golf Hall of Fame inductee and entrepreneur, has a line of cannabidiolâ€”or CBDâ€”infused personal care products marketed for physically active adult men and women
Itâ€™s estimated that almost 7% of Americans are already using CBD. The potential market for the cannabis derivative products could reach $16 billion by 2025, according to an analysis by Cowen & Co.
Earlier this year, Green Growth appointed Brian Logan, a former executive at New Albany, Ohio-based Abercrombie, as its chief financial officer.
Abercrombie & Fitch-branded storesâ€™ target customers are women and men ages 21-24. The companyâ€™s other apparel divisions are Hollister, which sells to teens and abercrombie kids, outfitting children ages 5-14. In total, the retailer has 865 stores in North America, Europe, Asia, and the Middle East.
Green Growth recently walked away from a takeover bid for Canadian pot company Aphria Inc., after Aphriaâ€™s shares traded significantly above the offer price. The two companies are now in discussions about a potential commercial arrangement, they said last month.