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Penny Hemp Stocks: Branded Legacy’s CBD Beverage Growth Strategy

Penny Hemp Stocks: Branded Legacy's CBD Beverage Growth StrategyInvestors following penny hemp stocks have witnessed substantial volatility in 2020. Branded Legacy (OTC: BLEG) is certainly no exception with its value decreasing by nearly 94% since it’s January 10th, 2020 high of $7/share. The penny hemp stock currently trades at a mere $0.34/share but will Branded Legacy’s CBD beverage growth strategy pay off?

On July 17, Branded Legacy, formerly known as Elev8 Brands, acquired Versatile Industries, LLC, and it is set to become the company’s private label division.  The penny hemp stock is comprised of two subsidiaries, Elev8 Hemp, LLC, and Zoe CBD, LLC.

Branded Legacy primarily concentrates on the development of hemp and cannabinoid-infused beverages along with CBD topicals and tinctures. With increasing demand to private-label its beverages, Branded Legacy was compelled to opt for this route to expand its share in the CBD and hemp market.

Versatile Industries has a track record of enabling companies to gain a foothold in the hemp and CBD markets. It also works on reducing the overhead costs tied to inventories so as to allow increased marketing budget as well as profit margins. CEO of Branded Legacy, Ryan Medico, stated, “…Elev8 Hemp has been approached several times to private label these CBD beverages and we are currently working on our first deal which would bring over six figures in revenue on the first order.”

Betting high on growth opportunities in the CBD beverage market

Penny Hemp Stocks: Branded Legacy's CBD Beverage Growth Strategy

Branded Legacy is quite committed to strengthening its presence in the CBD-infused beverages market. A report by the Grand View Research in May 2020 predicted that global cannabis beverages market size would expand to $2.8 billion by 2025 at a CAGR of 17.8%.

The report included both alcoholic as well as non-alcoholic beverages containing THC or CBD. Regarding CBD-infused beverages, the research highlighted that it is all set to witness a surge during the period of forecast due to the non-psychoactive properties of CBD.

It is thus evident that Branded Legacy wants to capitalize on this opportunity fully. Since its launch of CBD iced teas in 2019, Elev8 Hemp has upgraded its products in several ways. It has opted for a higher quality of tea and revamped the packaging into sturdier bottles.

A key differentiating factor is also the change in the method of CBD suspension in the drinks. Besides this, the company altered the formula for CBD iced coffee to enhance its flavor as well.

Stronger distribution channels to drive growth

Penny Hemp Stocks: Branded Legacy's CBD Beverage Growth Strategy

The hemp stock noted that in the second quarter, Elev8 Hemp’s CBD-infused Iced Teas led the sales higher. According to Branded Legacy, its sales in Q2 climbed 20% over the past quarter, while Elev8 Hemp’s CBD-infused Iced Teas were placed in more than 40 new locations within the last week.

According to the CEO, the demand in the past few months was subdued due to the global pandemic lockdown. However, as things have begun to reopen, the hemp company expects to see an uptick in sales.

Branded Legacy is highly upbeat about the growth of its CBD iced teas and coffee. The company has also strengthened its distribution channels to expand revenue on this front. We are eager to watch how the segment grows and if Branded Legacy’s CBD beverage growth translates into high topline revenue for the hemp company.

About Branded Legacy

Branded Legacy, Inc. engages in the development and marketing of products for the fitness and wellness market. It offers hemp coffee, tea, and Zoe CBD products. The company was founded by Ryan Medico on September 30, 1981, and is headquartered in Longwood, FL

Penny Hemp Stocks: Branded Legacy’s CBD Beverage Growth Strategy

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