Using Proprietary Technology to Enhance Cannabis Product Portfolios
This Green Growth Brands Inc. profile is part of a paid investor education campaign.*
Green Growth Brands Inc. (CSE:GGB,OTCQB: GGBXF) is dedicated to creating a remarkable consumer experience in cannabis and CBD. The company is led by CEO Peter Horvath and a leadership team of consumer-focused retail experts that have been key decision makers at iconic, publicly-traded, global companies like Victoria’s Secret (NYSE:LB), DSW (NYSE:DSW), Bath & Body Works and Calvin Klein (NYSE: PVH), among others.
Green Growth Brands’ presence spans the US between cannabis dispensaries and CBD retail. The company operates two dispensaries in Nevada and intends to open seven more in the state. Additionally, the company has the license to open three dispensaries in Massachusetts and up to 35 in Florida. Green Growth Brands currently has CBD products selling in nearly 900 outlets across the country.
The company’s brands include The+Source, 8|Fold, CAMP, Seventh Sense Botanical Therapy and Green Lily. The company also has a licensing agreement with the Greg Norman™ brand to develop a line of CBD-infused personal care products designed for active wellness. The company’s diverse portfolio of brands allows the company to bring an element of localization and personalization to each of its consumers.
Green Growth Brands’ wholly-owned and operated The+Source dispensaries are located in Las Vegas and Henderson, Nevada. The locations are top performing dispensaries that have garnered accolades by a variety of publications, such as High Times, Desert Companion, the Las Vegas Review and Maxim. By implementing the company’s retail expertise, Green Growth Brands has grown sales, transactions and gross margin at both locations by double digits. The company plans to expand The+Source brand throughout Nevada through the seven dispensary licenses the company was awarded by the Nevada Department of Taxation in December 2018.
8|Fold is an occasion-based, lifestyle-oriented THC brand distributed in Nevada. 8|Fold was the The+Source’s house brand, but upon acquisition of The+Source, Green Growth Brands rejuvenated the strains, assortment, messaging and marketing. This, subsequently, drove category penetration from 10 percent to 30 percent at The+Source.
CAMP is a THC-focused product line that offers innovative strains in multiple forms. The company introduced CAMP to the Nevada market in April 2019 with the state’s first solventless rosin products. The product assortment has since grown and is available at The+Source locations in Nevada and the full CAMP experience is expected to launch in Massachusetts in early 2020.
Seventh Sense Botanical Therapy offers consumers CBD-infused personal care and beauty products to awaken the mind, body and spirit for a renewed sense of calm and wellbeing. Seventh Sense offers a high-quality and moderately-priced assortment of CBD-infused products. The product line is sold through over 100 mall-based shops across the US, online at ShopSeventhSense.com and through wholesale partnerships with Abercrombie & Fitch and DSW shoes stores.
Green Lilly and Greg Norman products are expected to be introduced in the coming months. The company also has the ability to white label products and is doing so for American Eagle. The branded CBD personal care products are expected to be sold in nearly 500 stores across the US.
The company has also entered into a definitive agreement to combine with Moxie, a widely-awarded maker of THC concentrates and extracts. The combination allows Green Growth Brands to leverage Moxie’s THC expertise and distribution network of over 250 cannabis dispensaries across six states.
Green Growth Brands Company Highlights
- Leadership team with decades of experience building the iconic, publicly-traded retail and personal care brands
- A diversified business strategy that take advantage of the huge potential growth in both cannabis and CBD
- The US cannabis market is expected to reach US$40 billion in revenue by 2023, according to the Brightfield Group.
- The US CBD market is expected to reach US$24 billion in revenue by 2023, according to the Brightfield Group.
- Five developed cannabis and CBD retail brands.
- Owns The+Source dispensaries located in Las Vegas and Henderson, Nevada.
- The+Source Las Vegas dispensary is a high-revenue, high-productivity location with an industry leading average revenue per selling square feet
- Developed a patent-pending technology and three product offerings.
- Distribution of CBD products in over 900 outlets across the US.
Green Growth Brands’ Retail-Focused Business Model
Green Growth Brands is a cannabis and CBD company whose business model primarily focuses on creating engaging cannabis brands and exceptional retail spaces. The company’s leadership team has led strategy and execution at large international brands. Green Growth Brands is one of the first companies to have a comprehensive consumer-focused experience in the cannabis industry. This becomes increasingly more important as the US cannabis market continues to grow. It is expected to reach $146.4 billion by the end of 2025.
Due to the company’s extensive retail experience, Green Growth Brands’ management team knows that the industry is ever-changing, and the way companies sell and brand their products is becoming more important. Notable changes to the industry include the rise of e-commerce transactions and the role social media plays in the way consumers and retail brands interact with each other. On top of all these changes is the fact that consumers still want exceptional and remarkable experiences that, if successful, will generate long-term customer loyalty.
With this market understanding in place, Green Growth Brands has developed five cannabis and CBD retail brands that focus on creating these remarkable experiences for its customers.
“Coming up with consumer experiences that are localized and relevant and reflective of where they live is absolutely going to get you 20 or 30 percent more sales, [rather] than just popping in a generic cookie-cutter experience that is everywhere else in the US,” said Green Growth Brands CEO Peter Horvath.
Additionally, the company plans to build dispensary locations that offer easy and educational navigation and always-in stock assortments in prime retail locations. Intuitive layouts and stigma-dispelling store formats have been designed to encourage customers to explore, while a strong online and digital presence is expected to cater to convenience and forward-pushing industry standards.
In order to create unique brand experiences and innovative products, Green Growth Brands intends to team up with strategic partners, continue to acquire strategic retail locations and establish distribution channels across the US.
Green Growth Brands’ Portfolio
As part of their business model, Green Growth Brands is committed to developing emotional brands that create exceptional retail experiences for their customers. Green Growth Brands has developed five cannabis brands that target a wide variety of demographics and lifestyles.
The company’s brands include The+Source, 8|Fold, CAMP, Seventh Sense Botanical Therapy and Green Lily. The company also has a licensing agreement in place with the Greg Norman™ brand to develop a line of CBD-infused personal care products designed for active wellness.
The+Source is a branded cannabis dispensary with locations in Las Vegas and Henderson, Nevada. The+Source is a vertically-integrated medical and retail cannabis company that holds four cannabis licenses in Nevada for dispensary, cultivation, production and distribution capabilities.
The+Source has an industry leading average revenue per selling square feet. The company attributes its success at this location due to its meticulous layout, efficient operation and knowledgeable and friendly staff.
Seventh Sense Botanical Therapy
Seventh Sense is Green Growth Brands’ CBD-infused body care line, making CBD easily and readily accessible to the mass market. With premium formulas and familiar forms, Seventh Sense encourages consumers along a self-care journey that is enhanced with CBD. Seventh Sense is sold across the US, including through over 100 mall-based shops and online at ShopSeventhSense.com.
Green Lily connects with women to emphasize the exploration of new paths to wellness with its products, which include botanically-led beauty and wellness offerings, supplemented with luxury lifestyle items. Each Green Lily branded shop features beautiful, inviting and comfortable interiors along with friendly and knowledgeable staff members to guide a growing demographic.
The company introduced CAMP to the Nevada market in April 2019 with the state’s first solventless rosin products. The product assortment has since grown and is available at The+Source Henderson and Las Vegas. The full CAMP experience is expected to launch in Massachusetts in early 2020 at a dispensary in Northampton.
Green Growth Brands’ Retail Cannabis Presence
Green Growth Brands has positioned itself to be one of the largest cannabis operators in the state of Nevada. The company has been awarded seven retail cannabis dispensary licenses throughout the state. The company is committed to developing an exceptional store experience to promote customer loyalty and to effectively display its engaging cannabis brands.
Green Growth Brands owns The+Source dispensary in Las Vegas and Henderson, Nevada. The company also owns two cultivations and one production facility in Las Vegas.
Green Growth Brands intends to begin its rollout in Massachusetts in early 2020 with its first CAMP dispensary, to be located in Northampton. The company has plans for two other recreational dispensaries in the state, for a total of three.
“We are excited at the prospect of competing in high-potential cannabis markets in the US,” said Horvath. “Our team’s experience in store operations and branding will allow us to bring a superior cannabis retail experience to Massachusetts.”
Green Growth Brands has acquired Spring Oaks Greenhouses Inc., a medical cannabis license holder and authorized medical cannabis treatment center in Florida. Spring Oaks’ dispensary license lets the company produce, process and dispense medical cannabis and cannabis products. The license also allows the company to open up to 35 dispensaries in the state.
“Entering Florida through the Spring Oaks acquisition will be a great addition to our existing MSO presence in Nevada and Massachusetts, as well as to our CBD business that already has a national presence,” said Horvath. “We admire several of the existing operators in the state and Florida is a special market, with favorable financials implications for the best operators. We look forward to quickly scaling our operations in the state and bringing our expertise to every patient.”
Simon Property Group
In order to rapidly expand its retail presence in the US, Green Growth Brands partnered with the Simon Property Group Inc. (NYSE:SPG), the largest shopping mall operator in the US, to open 108 shop locations in malls across the US.
“Our partnership with Simon allows Green Growth Brands to launch our brands and CBD products in premier shopping destinations across the US,” said Horvath. “Our management team has had decades of experience working closely with developers and operating premium retail stores in their properties. We know this arrangement gives us access to the best locations, foot traffic and consumers. We look forward to introducing our remarkable retail experience and line of CBD products to Simon shoppers in the near future.”
Green Growth Brands is also expanding its retail presence by 70 storefronts through Brookfield Properties’ shopping centers across the US. Brookfield Properties has over 160 best-in-class retail real estate assets that feature shopping, dining, entertainment and gathering centers for communities across the US. To date, Green Growth Brands has over 100 Seventh Sense shops open.
Abercrombie & Fitch
In June 2019, Green Growth Brands expanded its partnership with Abercrombie & Fitch (NYSE: ANF). Following its 10-store trial phase, Abercrombie & Fitch intends to carry Seventh Sense products in over 160 stores.
Green Growth Brands has also received a purchase order from American Eagle Outfitters Inc. (NYSE:AEO). American Eagle intends to sell hemp-derived CBD-infused personal care products in its 500 store locations as well as online. The company has developed an exclusive line for American Eagle that includes a wide assortment of CBD-infused products, such as lotions, muscle balms and aromatherapy.
Green Growth Brands’ Management Team
Peter Horvath — CEO
Peter Horvath is a dynamic creative brand leader, team builder and specialty retail veteran with deep roots in finance. Horvath has served in critical senior management roles for brands like Victoria’s Secret, American Eagle Outfitters, DSW and Limited Brands where he led strategy and execution across all company channels. Under his leadership, shoe retailer DSW went public on the NYSE at $1.5 billion.
Horvath’s unique ability to understand the big picture while never missing the subtle details is a critical factor in Green Growth Brands success as a company and the brands’ popularity with consumers.
Ed Kistner — CAO
Ed Kistner brings 33 years of multi-faceted experience at leading retail businesses, including leadership roles at DSW and Victoria’s Secret, in finance, merchandise planning, operations and stores. His well-rounded experiences in fast-changing environments, position him to be the architect of operational execution at Green Growth Brands.
Jann Parish – CMO
Jann Parish is an experienced marketing executive in the consumer and lifestyle space. With over 18 years of proven leadership working for global consumer brands, Parish has cultivated brand development, marketing and e-commerce organizations by building multi-faceted teams that deliver world-class results.
With experience at international brands like Victoria’s Secret, Tommy Hilfiger and Calvin Klein – where she led the transformational “I _____ in #mycalvins” campaign – Parish is known for having a keen sense of ever-changing consumer wants. Her ability to understand consumer trends and create huge growth brings additional innovative edge to Green Growth Brands.
Brian Logan- CFO
Brian Logan, CPA, brings nearly 20 years of global public company experience in corporate finance, international finance, and investor relations. Logan joins Green Growth Brands from Abercrombie & Fitch Co., a USD$3.5 billion specialty apparel retailer operating over 850 stores and websites in over 20 countries. He is expert leading cost effective and efficient expansion into international markets, implementing profit improvement initiatives, and developing high-performing teams.
Randy Whitaker – COO
With over 27 years of real estate, finance and store operations experience, Randy Whitaker is an industry veteran with a results-oriented focus. He joins Green Growth Brands from iconic international retailers, like Belk and Victoria’s Secret, where he was known for his agility in fast-paced environments and building high-performing teams.
As Executive Vice President, Chief Stores Officer at Belk, Whitaker led the stores’ organization, including store operations, aviation, visual merchandising, customer care, credit and supply chain. Prior to Belk, he spent over 15 years at Victoria’s Secret in a variety of real estate and stores operations positions, including Executive Vice President Store Operations. His extensive knowledge of retail industry operations will be central to the growth and success of Green Growth Brands.
Kellie Wurtzman – Head of Stores
Kellie Wurtzman brings significant retail leadership to Green Growth Brands and has a proven track record of leading high-performing stores and teams at brands like Luxottica, Victoria’s Secret and Virgin Entertainment. She brings a wealth of experience in office, field and analytics that allows her to solve complex problems with innovative, customer-focused solutions.
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