Celebrities and new companies are constantly entering the U.S. CBD market, but one new entry may tower above the rest.
Canadian Cannabis producer, Canopy Growth, is now setting its sights on U.S. consumers. Canopy is one of the world’s largest cannabis producers and is valued at $6.4 billion. Under Canada’s recreational cannabis market, Canopy operates several brands including Tweed, Spectrum Therapeutics, DNA Genetics, Craftgrow, Doja, Van der Pop, Tokyo Smoke, and Maitri.
Canopy’s new U.S. brand is called First & Free and despite the name, CBD products in the collection retail from $14.99 to $64.99. First & Free offers CBD soft gels and oil drops. Topicals and creams are expected to be available soon.
Canopy is taking a measured approach in its unveiling of First & Free and seems intent on avoiding any issues with federal agencies. First & Free acknowledges that its products have not been evaluated by the FDA. Right now, First & Free products are available in 31 states in order to avoid problems in jurisdictions that are not CBD friendly. Currently, there is no information on whether or not products will be sold in U.S. stores but First & Free offers free shipping on all orders over $75 to the 31 states they are doing business in.
“First & Free products are available for purchase only in states where permissible under state law in order to ensure compliance with state consumer protection mandates, and following the most stringent state laws regarding the sale of CBD to ensure consumers have access to CBD products from a trusted source,” Canopy vice-president of communications and media Jordan Sinclair said according to BNN Bloomberg.
Canopy has been methodically building its infrastructure for U.S. CBD sales. Recently, they began construction on a 2,000 square foot hemp processing facility in New York State to supply First & Free.
“We have built our hemp supply chain in the United States through partnering with a diverse group of contract farmers and manufacturers across several states for the cultivation, extraction, processing, and production of hemp-derived products,” the company said in a release last month.