Will 1933 Industries’ Revamped Portfolio Boost Sales?
1933 Industries (OTC: TGIFF) is a renowned vertically-integrated cannabis consumer packaged foods company. The hemp stock has been working actively to ramp up its portfolio to meet changing market demands. In the last few days, there have been two major developments on this front. It has launched a new product line and formed an alliance with licensed production partners in Nevada. Will 1933 Industries’ newly revamped portfolio help boost sales?
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Increased CBD in the existing Canna Hemp™ portfolio
On August 12, 1933 Industries announced the introduction of a new line of product called Canna Hemp™ Plus to its robust wellness portfolio. This is an extra-strength hemp-based product that offers the experience of added CBD at competitive prices.
Canna Hemp™ has double the amount of CBD and the specialized product aims to utilize the power of CBD across a variety of formulas. Through this new offering, TGIFF aims to cater to the needs of an expanding consumer base with varying lifestyles. The President of 1933 Industries, Mr. Eugene Ruiz, stated, “Our best-selling topical Relief Cream and all Elixirs will launch the PLUS line today, with more products to follow over the coming months.”
Besides this, the hemp stock has announced that it will be increasing the amount of CBD in its existing Canna Hemp™ product line. This includes vape pens, lip balms, and lotions. TGIFF intends to re-price these products and revealed that it wants to pass on the benefits of the CBD price decline to the consumers. The enhanced Canna Hemp™ line will be introduced later this month at the Efficient Collaborative Retail Marketing (ECRM) Conference.
TGIFF Nevada to see the production of Five Star Extracts and smokable flower
In another development earlier this month, TGIFF’s subsidiary, Alternative Medicine Association (AMA), signed a licensing agreement with California-based Five Star Group for cultivating, manufacturing, and selling its Five Star Extracts branded offering in Nevada for a one-year term. This new partnership strengthens AMA’s position as the leading producer of cannabis concentrates in Nevada. AMA would manufacture Five Star Extracts in addition to its flavored Double Shot and cannabis tinctures.
In July, the hemp stock added high-quality smokable flower and pre-roll joints through its AMA brand portfolio in Nevada. Even amid the COVID-19 pandemic, TGIFF’s in-store sales in Nevada climbed 52% in May. According to the hemp stock’s President Ruiz, “the cannabis market in Nevada was resilient to the pandemic situation and he added that the market for cannabis flower is rapidly growing”.
Cannabis concentrate, on which TGIFF solely focusses, forms less than 25% of the total sales in Nevada. Adding flower and pre-rolls is indeed a well-timed move by the cannabis company as it would add a new revenue stream. The question remains: how will this revamped portfolio impact the share price of this hemp stock in the long term?
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