Following the launch of two new CBD-based merchandise below the CBII model, Bod Australia Limited (ASX:BDA) right this moment introduced that it has broadened its sales footprint within the United Kingdom through two new on-line retailers.
Bod’s whole vary of CBII merchandise will likely be stocked within the UK by two of Europe’s main on-line retailers, Lookfantastic and Feelunique, following settlement secured by Bod’s unique companion Health & Happiness Group Limited.
Both retailers have a mixed 15 million guests monthly throughout each UK web sites, significantly broadening the CBII model attain, buyer base and distribution footprint in a big and rising market.
The CBD skincare market is predicted to develop to US$3.48 billion in worth by 2026, and therefore these new retail companion agreements go away Bod properly positioned to capitalise on such development.Lookfantastic just isn’t solely Europe’s primary on-line premium well being and wonder retailer, however one of many world’s most profitable premium on-line magnificence retailers, producing 10 million visits monthly, stocking over 660 manufacturers and transport to over 200 international locations.
The group has grown income share 40% year-on-year for the final three years and is underpinned by unrivalled expertise, provide chain administration and a group of world-class consultants within the magnificence and healthcare house.
Initially, Lookfantastic will concentrate on the sale and distribution of CBII merchandise within the UK, with each events exploring the potential to increase availability to different international locations the place CBD is legally permissible on the market.
CBII merchandise will likely be launched on Lookfantastic’s web site within the coming weeks.
Feelunique is certainly one of Europe’s main premium e-commerce magnificence retailers with a big and established UK buyer base, stocking over 30,000 merchandise and driving over 5 million distinctive guests monthly.
The group will inventory Bod’s CBII vary in its distinctive on-line market, which is a chosen space and anticipated to launch this month.
The new stockists come following an settlement between every respective firm and Bod’s unique international companion, Health & Happiness Group Ltd (HKSE: 1112), broadening the CBII manufacturers publicity within the UK, as properly as growing model attain and potential buyer base.
Bod expects that broadening CBII’s model publicity, attain and potential buyer base will end in elevated sales income within the UK market. Given the early stage of the event of the UK CBD market, Bod is unable to reliably estimate the extra sales income that could be achieved at the moment.
Bod has been suggested that the agreements are non-exclusive, don’t set up minimal sales volumes and have a minimal 12-month mounted time period. The firm has additionally been suggested that there are not any materials situations precedent to the agreements.CBII expands its product offeringCBII was launched in collaboration with H&H in December 2019, and has lately expanded its providing with residence fragrances and new CBD-based skincare merchandise.The complete variety of obtainable SKUs is now 17, and three new merchandise are being launched within the coming months with the intention to sustain with the rising demand for Bod’s distinctive merchandise.
Commenting on Bod’s growth of its UK sales footprint, CEO Jo Patterson stated: “The Company continues to attain robust demand for its distinctive vary of CBD-based merchandise within the UK market from shoppers and retailer companions, and new stockists such as Feelunique and Lookfantastic are additional proof of our rising market presence within the area.
“Both of our new retail companions have giant and established buyer bases and we count on that these stockists will underpin development in CBD and hemp sales with our income profile persevering with its upward trajectory.”