London CBD firm expands global footprint with new Asia distribution deal
A CBD specialist based in London has announced a new partnership to support its expansion into new Asian markets.
Love Hemp Group has partnered with eCargo Holdings in distribution deal designed to roll the brand out across South East Asia.
Love Hemp’s initial launch into the region will be anchored around both online and offline presences in Hong Kong and South East Asia retail channels, before expanding into India and Japan at a later date.
Tony Calamita, chief executive officer of Love Hemp Group, commented: “This partnership is a significant step forward in our global growth strategy.
The global CBD market is forecast to exceed USD20 billion by 2024, a 614 per cent increase from today’s valuation, with Asia representing a sizeable part of this market as regulations continue to adapt.
“Working with eCargo, an established e-commerce and offline sales enabler, allows us to effectively penetrate these Asian markets and quickly position Love Hemp as a trusted, high-quality brand, as it is known in the UK.”
Lawrence Lun, chief executive officer of eCargo Holdings, added: “I’m glad to welcome Love Hemp Group into our brand portfolio and assist them on the next step of their global growth by leveraging our Asia Pacific network.
“Love Hemp’s brand reputation and product quality speaks for itself, and we look forward to a long and successful working relationship helping them expand throughout Asian markets.”
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