Kannaway CEO Blake Schroeder was interviewed this week by The Street in an article focusing on the use of CBD in beauty products and the sudden boom in this sector of the CBD industry.
The article, titled “Bath Bombs and Muscle Creams: How Beauty Is Becoming the Fast Lane for Cannabis Growth”, explored how the enormous beauty industry has taken hold of CBD as its most exciting new ingredients.
“[Beauty] went from something we didn’t talk about at all at in the company to this becoming a significant part of our sales,” says Schroeder in the interview with The Street’s Real Money. “As we continue to expand, this is a product that we can lead with that’s going to have less regulatory issues than other cannabis-based products.”
Last year, beauty products like those from the Cannabis Beauty Defined line represented just 5% of Kannaway’s business. Since refocusing, this segment has more than doubled to 11% of sales.
“People don’t know about CBD and we get to explain; it’s a real opportunity,” Schroeder told The Street. “Not everyone understands that CBD is not psychoactive,” Schroeder says. That’s why the beauty line is “an entryway into the space and it’s becoming more mainstream.”
Large players in the beauty industry are beginning to see the value of CBD for the skincare and beauty market. Gwyneth Paltrow’s Goop, Kat Von D, Fresh brand, IPekar, and more are looking to get a piece of the market Cannabis Beauty Defined helped create years ago.
You can find the entire The Street article, including the interview with Schroeder, here.
To find the latest in Kannaway news, visit the Kannaway blog.