Magic Johnson-Backed Uncle Bud's To Enter Asia Market In November
Uncle Bud's, a hemp and CBD brand backed by Earvin "Magic" Johnson, is poised to debut in Asia.
The NBA Lakers legend and Basketball Hall of Famer will launch the brand's newest shop on Nov. 6 on Tmall Global, China's business-to-consumer (B2C) cross-border online platform.
"I'm excited to be part of this significant development and business expansion for Uncle Buds because China has an enormous buying power and a large consumer base," Johnson said.
Johnson, who is an entrepreneur in his own right, will come on board as a brand partner to kick off the launch.
Other notable sportsmen and celebrities like Academy Award-winner and activist Jane Fonda; Grammy Award winner and recording artist Toni Braxton; and National Hockey League star Seth Jones also opted to endorse the brand.
Bruno Schiavi, Uncle Bud's Co-Founder and President, explained that this partnership is "doubling down "their mission to "bring education and democratization to the Hemp and CBD categories, giving consumers everywhere the ability to realize the life-changing healing properties of these powerful ingredients."
"We launched the Go Global 11.11 Pitch Fest this year to help emerging US brands like Uncle Bud's grow their businesses globally," said Jackie Lee, Tmall Global's Head of Beauty and Personal Care.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.