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Canadian cannabis giant Canopy Growth Corporation (TSX:WEED) (NASDAQ:CGC) will deepen its collaboration with household guru Martha Stewart, who has agreed to serve as the company's official strategic advisor.
Stewart's CBD Saga
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The Smiths Falls, Ontario-based company introduced Stewart's product line of hemp-derived wellness supplements in September under a collaboration with Marquee Brands, building on her prior involvement with the company.
Canopy Growth welcomed Stewart in 2019 as part of the deal with Sequential Brands Group, Inc. (NASDAQ:SQBG). Since then, Stewart has been advising the company on developing its own line of CBD products.
Last November, Stewart released her holiday-inspired gummies line. The collaboration between the "Domestic Diva" and Canopy Growth resulted in the launch of Martha Stewart CBD Wellness Gummies Sampler.
To round up her offering of CBD products, Stewart then introduced a line of CBD treats for pets in January, in her effort "to enrich the lives" of dogs as well.
In her new role, Stewart will continue to provide the company "with dedicated counsel" on product innovation as well as format development and strategic partnerships.
David Klein, CEO of Canopy Growth, said Thursday he and the company are delighted to build a relationship with Martha Stewart.
"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," Klein said.
Stewart shared Klein's enthusiasm. She praised Canopy Growth's dedication to producing high-quality, safe, and consistent products.
"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," Stewart added.
Photo by Tim Foster on Unsplash
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.