CBD craze forces Christian Book Distributors to change its name
The CBD craze is driving a religious bookseller to drop its name after receiving an influx of requests for cannabis-related products.
Christian Book Distributors had been known by the acronym CBD, which is associated with cannabidiol, the non-psychoactive compound found in marijuana plants.
The Peabody, Massachusetts-based bookseller announced it will now be known as “Christianbook” to avoid any confusion with the marijuana compound.
“A person may call up and say, ‘Hey, I’m looking for my order,’” Christianbook President and CEO Ray Hendrickson told The New York Times, “It’s like, ‘What did you order? Oh, I ordered gummies. You don’t have the right company.’”
Hendrickson started the business with his brother in 1978. Its success led the bookstore to become the world’s largest seller of Christian products.
“When we started the business 40 years ago out of Mom and Dad’s house, we came up with the name ‘Christian Book Distributors’ as we felt it described what we did — distribute Christian books, Hendrickson said in a statement.
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CBD’s rise in popularity has seen CBD-laced foods and health products being sold in popular retail stores. Last month, Kroger announced it will introduce CBD-related products to its aisles. Drugstores Walgreens and CVS plan to carry CBD products in some states.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CVS | CVS HEALTH CORP. | 57.99 | +0.89 | +1.56% |
| WBA | WALGREENS BOOTS ALLIANCE INC. | 8.66 | +0.36 | +4.34% |
| KR | THE KROGER CO. | 59.22 | +0.64 | +1.09% |
With CBD legal in all 50 states, it is projected that the hemp extract could reach $16 billion in sales by 2025, according to a report by New York-based investment bank Cowen.