Green Growth Brands To Open CBD Shops In Simon Property Group Malls

Green Growth Brands Inc GGBXF is continuing its expansion plans and announced a deal with Simon Property Group Inc SPG. Under the terms of the partnership, Green Growth Brands will launch a chain of CBD shops across malls operated by Simon Property Group.

What Happened

Simon Property Group is the largest mall operator in the U.S.; the partnership will give Green Growth Brands access to 108 locations in U.S. malls. The company said it will use the locations to expand its chain of CBD-infused personal care product stores under the Seventh Sense Botanical Therapy banner and other brands. 

The announcement comes one month after Green Growth Brand said it would sell CBD-infused personal care products in 96 locations operated by shoe retailer DSW, Inc. DSW

Why It's Important

The legalization of hemp has provided a major boost to the CBD industry.

The U.S. CBD industry could reach $22 billion by 2022, according to Brightfield Group. This puts its value in line with what analysts are projecting for the entire U.S. cannabis industry by 2021-2022. 

The rapid pace of expansion that Green Growth Brands has embraced allows it to establish a footprint while the CBD industry is still in its emerging phase, potentially positioning it as a market leader. 

What's Next

Green Growth Brands said it will open the first CBD shop in March at Castleton Square Mall in Indianapolis, Indiana. Other locations are slated to open throughout the rest of 2019.  

Related Links:

Green Growth Brands Subsidiary To Work With Authentic Brands, Tilray On Line of CBD-Infused Products

Aphria Falls After Rejecting Green Growth's Hostile Takeover Offer

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisMarketsCBDCBD ProductsCBD retailGreen Growth BrandsSimon Property Group
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis is evolving – don’t get left behind!

Curious about what’s next for the industry and how to leverage California’s unique market?

Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!

Get your tickets now to secure your spot and avoid last-minute price hikes.