Following the launch of two new CBD-based merchandise underneath the CBII model, Bod Australia Restricted (ASX:BDA) right now introduced that it has broadened its gross sales footprint in the UK through two new on-line retailers.
Bod’s complete vary of CBII merchandise can be stocked within the UK by two of Europe’s main on-line retailers, Lookfantastic and Feelunique, following settlement secured by Bod’s unique associate Well being & Happiness Group Restricted.
Each retailers have a mixed 15 million guests per 30 days throughout each UK web sites, significantly broadening the CBII model attain, buyer base and distribution footprint in a big and rising market.
The CBD skincare market is predicted to develop to US$3.48 billion in worth by 2026, and therefore these new retail associate agreements depart Bod nicely positioned to capitalise on such development.
Lookfantastic just isn’t solely Europe’s primary on-line premium well being and wonder retailer, however one of many world’s most profitable premium on-line magnificence retailers, producing 10 million visits per 30 days, stocking over 660 manufacturers and delivery to over 200 nations.
The group has grown income share 40% year-on-year for the final three years and is underpinned by unrivalled know-how, provide chain administration and a staff of world-class consultants within the magnificence and healthcare house.
Initially, Lookfantastic will concentrate on the sale and distribution of CBII merchandise within the UK, with each events exploring the potential to increase availability to different nations the place CBD is legally permissible on the market.
CBII merchandise can be launched on Lookfantastic’s web site within the coming weeks.
Feelunique is certainly one of Europe’s main premium e-commerce magnificence retailers with a big and established UK buyer base, stocking over 30,000 merchandise and driving over 5 million distinctive guests per 30 days.
The group will inventory Bod’s CBII vary in its distinctive on-line market, which is a delegated space and anticipated to launch this month.
The brand new stockists come following an settlement between every respective firm and Bod’s unique world associate, Well being & Happiness Group Ltd (HKSE: 1112), broadening the CBII manufacturers publicity within the UK, in addition to growing model attain and potential buyer base.
Bod expects that broadening CBII’s model publicity, attain and potential buyer base will end in elevated gross sales income within the UK market. Given the early stage of the event of the UK CBD market, Bod is unable to reliably estimate the extra gross sales income that could be achieved right now.
Bod has been suggested that the agreements are non-exclusive, don’t set up minimal gross sales volumes and have a minimal 12-month mounted time period. The corporate has additionally been suggested that there aren’t any materials situations precedent to the agreements.
CBII expands its product providing
CBII was launched in collaboration with H&H in December 2019, and has just lately expanded its providing with dwelling fragrances and new CBD-based skincare merchandise.
The full variety of out there SKUs is now 17, and three new merchandise are being launched within the coming months so as to sustain with the rising demand for Bod’s distinctive merchandise.
Commenting on Bod’s growth of its UK gross sales footprint, CEO Jo Patterson mentioned: “The Firm continues to attain sturdy demand for its distinctive vary of CBD-based merchandise within the UK market from shoppers and retailer companions, and new stockists reminiscent of Feelunique and Lookfantastic are additional proof of our rising market presence within the area.
“Each of our new retail companions have giant and established buyer bases and we count on that these stockists will underpin development in CBD and hemp gross sales with our income profile persevering with its upward trajectory.”