Flora Growth Signs Agreement to Distribute Mind Naturals in the Hong Kong Region
March 14 2022 - 7:05AM
Business Wire
Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a
leading all-outdoor cultivator and manufacturer of global cannabis
products and brands, announced today that it has signed a
distribution agreement with Israel-based, DNO Group, to distribute
the Mind Naturals brand in the Hong Kong region. DNO Group is a
leading distributor of global independent brands and has over
50,000 points of sale throughout Asia in addition to its broader
global reach.
Through this agreement, Flora will work with DNO to identify
growth opportunities and bring the Mind Naturals brand to market in
new territories using an omnichannel approach including brick and
mortar retail, e-commerce, and other wholesale markets. The initial
focus will be on Hong Kong and is expected to be followed by a
second phase expanding to India and Israel.
“We are excited to see the continued expansion of Mind Naturals
into new international markets, especially those with a high demand
for skincare products,” commented Flora Growth CEO, Luis Merchan.
“With quality ingredients and a thoughtful customer experience,
Mind offers something different in this competitive space. We look
forward to working with DNO to bring this unique offering to key
markets around the world.”
This announcement is one of a series of new agreements signed
with international distributors. Earlier this year, Flora announced
Mind Naturals launch through Walmart.com and Coppel, a nationwide
department store in Mexico. The launch includes 12 products
initially offered on e-commerce with subsequent plans to sell in
brick and mortar retail locations. Mind Naturals has also completed
initial exports to Spain.
Flora’s Mind Naturals emphasizes the idea that beauty starts in
the mind. It is an inclusive brand that uses premium CBD and
quality, clean ingredients to develop better-for-you skincare in
more sustainable packaging than traditional brands. They were named
a trendsetting brand at CosmoProf North America in 2021 for their
innovation in sustainable packaging and in December were a top 12
finalist in Glosswire’s Global Pitch Competition, which includes
beauty brands from across the globe.
About Flora Growth Corp.
Flora is building a connected, design-led collective of
plant-based wellness and lifestyle brands that is designed to
deliver one of the most compelling customer experiences in the
world, one community at a time. As the operator of one of the
largest outdoor cannabis cultivation facilities, Flora leverages
natural, cost-effective cultivation practices to supply cannabis
derivatives to its diverse business divisions of cosmetics, hemp
textiles, and food and beverage. Visit www.floragrowth.com or
follow @floragrowthcorp on social [media] for more information.
Cautionary Statement Concerning Forward-Looking
Statements
This document contains forward-looking statements. In addition,
from time to time, we or our representatives may make
forward-looking statements orally or in writing. We base these
forward-looking statements on our expectations and projections
about future events, which we derive from the information currently
available to us. Such forward-looking statements relate to future
events or our future performance, including: the size of markets
for cannabis and cannabis products; the collaboration with third
parties; and our business prospects and opportunities. You can
identify forward-looking statements by those that are not
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In evaluating these forward-looking statements, you should consider
various factors, including: our ability to change the direction of
the Company; our ability to keep pace with new technology and
changing market needs; and the competitive environment of our
business. These and other factors may cause our actual results to
differ materially from any forward-looking statement.
Forward-looking statements are only predictions. The
forward-looking events discussed in this document and other
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version on businesswire.com: https://www.businesswire.com/news/home/20220314005305/en/
Investor Relations: Evan Veryard
evan.veryard@floragrowth.com
Public Relations: Cassandra Dowell +1 (858) 264-6600
flora@cmwmedia.com
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