Newly created role will leverage Martha's
expertise across the Company's portfolio of brands
SMITHS FALLS, ON and
NEW YORK, May 20, 2021 /CNW/ - Canopy Growth Corporation
("Canopy Growth") (TSX: WEED) (NASDAQ: CGC), a world-leading
diversified cannabis, CBD and vaporization device
company announced the appointment of Martha Stewart as the
company's official strategic advisor. In this new role, Martha will
expand upon her existing relationship with the company, leveraging
her vast knowledge of product development and branding expertise,
to provide the company with dedicated counsel ranging from product
innovation to format development and strategic partnerships.
Martha's appointment comes on the heels of the successful launch
of Martha Stewart CBD in partnership with Marquee Brands and Canopy
Growth. Launched in Fall 2020, the product line offers
high-quality, CBD wellness supplements including gummies, softgels,
and oil drops with flavor profiles inspired by some of Martha's
most popular recipes. Martha Stewart CBD for Pet also launched
earlier this year and includes oil drops and soft-baked chews in
three gourmet flavor combinations and formulas designed to support
pet mental and physical well-being.
Since launch, the product line-up has extended into top-selling
gift boxes for occasions including Mother's Day and Valentine's
Day, which sold out prior to the holiday due to high consumer
demand. As mainstream awareness for CBD continues to increase,
coupled with Martha's legacy as a trusted source for living well,
the product line will continue to serve as a key area of growth for
the business.
"Canopy Growth is committed to providing consumers with trusted
CBD products with quality ingredients, and Martha Stewart has been
a champion of our commitment since the inception of our
partnership," said David Klein,
Chief Executive Officer of Canopy Growth. "We are thrilled to
deepen our relationship with Martha through this new advisory role.
With her expansive business acumen and years of experience with the
Canopy team, together we'll unleash the power of CBD to improve
lives and create an unparalleled portfolio of brands."
Martha will play a pivotal role in shaping Canopy's product
innovation pipeline through her counsel in the development of novel
concepts, formats, flavors and strategic alliances. From the
curation of new Martha Stewart branded products to curating
products for Canopy's wider portfolio of brands, Martha's advisory
role will help shape the future of the company's product
development trajectory.
"Over the past year, demand and awareness for CBD products has
skyrocketed. Working with the top researchers and scientists at
Canopy Growth, I saw first-hand how dedicated the company is in
producing high quality, safe and consistent products," said Martha
Stewart. "Deepening my relationship with the business is a natural
fit given our aligned dedication and passion for bringing consumers
innovative and quality CBD products and I'm thrilled to share the
benefits of CBD with consumers all over the country."
As momentum for the brand continues and demand for the Martha
Stewart CBD product portfolio grows, Canopy Growth has also signed
a distribution deal with Southern Glazer's Wine and Spirits, the
world's pre-eminent distributor of beverage alcohol, as the select
distributor for Martha Stewart CBD across the U.S. market. The
distribution deal follows the recent announcement with Southern
Glazer's and Canopy Growth to distribute Quatreau, Canopy's first
line of CBD-infused beverages sold in the U.S. market. Southern
Glazer's will initially distribute Martha Stewart CBD across seven
states, with additional states in the months to come.
About Canopy Growth Corporation
Canopy Growth (TSX:
WEED) (NASDAQ: CGC) is a world-leading diversified cannabis and
cannabinoid-based consumer product company, driven by a passion to
improve lives, end prohibition, and strengthen communities by
unleashing the full potential of cannabis. Leveraging consumer
insights and innovation, we offer product varieties in high quality
dried flower, oil, soft gel capsule, infused beverage, edible, and
topical formats, as well as vaporizer devices by Canopy Growth and
industry-leader Storz & Bickel. Our global medical brand,
Spectrum Therapeutics, sells a range of full-spectrum products
using its color-coded classification system and is a market leader
in both Canada and Germany. Through our award-winning Tweed and
Tokyo Smoke banners, we reach our adult-use consumers and have
built a loyal following by focusing on top quality products and
meaningful customer relationships. Canopy Growth has entered into
the health and wellness consumer space in key markets including
Canada, the United States, and Europe through BioSteel sports nutrition, and
This Works skin and sleep solutions; and has introduced additional
federally-permissible CBD products to the
United States through our First & Free and Martha
Stewart CBD brands. Canopy Growth has an established partnership
with Fortune 500 alcohol leader Constellation Brands. For more
information visit www.canopygrowth.com.
About Marquee Brands:
Marquee Brands is a leading
global brand owner and marketer. Owned by investor funds managed by
Neuberger Berman, one of the world's leading employee-owned
investment managers, Marquee Brands targets high quality brands
with strong consumer awareness and long-term growth potential.
Marquee Brands seeks to identify brands in various consumer product
segments with the goal of expanding their reach across retail
channel, geography and product category while preserving the brand
heritage and enhancing the ultimate consumer experience. Through
its global team of professionals and partners, Marquee Brands
monitors trends and markets in order to grow and manage brands in
partnership with retailers, licensees and manufacturers through
engaging, impactful strategic planning, marketing, and e-commerce.
www.marqueebrands.com. In 2019, Marquee Brands acquired the Martha
Stewart brand, which reaches approximately 100 million consumers
across all media and merchandising platforms each month. Martha
Stewart is the Founder of Martha Stewart Living Omnimedia and
America's most trusted lifestyle expert and teacher. Her branded
products can be found in over 70 million households and have a
growing retail presence in thousands of locations.
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SOURCE Canopy Growth Corporation