Abercrombie & Fitch to sell CBD products at 160 stores
Retailer Abercrombie & Fitch will sell CBD-infused products at more than 160 of its stores, expanding on an existing partnership with Green Growth Brands as more companies look to capitalize on the CBD craze.
The apparel brand will sell products from Green Growth Brands’ Seventh Sense Botanical Therapy line, including CBD-infused body lotions, lip balms and sugar scrubs. Abercrombie & Fitch previously held a trial run for the products at 10 stores.
"Abercrombie & Fitch understands how to connect with their target-customer, not just in the U.S. but across the globe," Green Growth Brands CEO Peter Horvath said. "They have incredible brand recognition in our current target markets and beyond, and we are excited at the prospect of building our partnership together."
CBD, or cannabidiol, is a hemp derivative that does not produce the psychoactive effects associated with marijuana. The substance has gained popularity in recent years for perceived health benefits. While Congress’ passage of the Farm Bill last December legalized hemp nationwide, federal officials are examining potential regulations governing the use of CBD as an additive in food and other products.
The CBD industry could be worth $22 billion by the year 2022, according to research by the Brightfield Group. Walgreens, CVS and Vitamin Shoppe are among the retailers who have recently begun carrying CBD products.
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The expanded CBD partnership comes as Abercrombie & Fitch contends with sagging sales and dwindling customer traffic at brick-and-mortar locations. The retailer has said it will close as many as 40 stores in 2019.