BettermentRS, a Texas-based health and wellness company, has implemented several of Chill Brands (CHLL )’ CBD products into 343 stores across multiple states in the United States.
Chill Brands, an international consumer packaged goods company, said its CBD flavour, tobacco-free nicotine pouches, as well as several other of its CBD products, will be placed into 343 stores across multiple states including Texas, Oklahoma, New Mexico and Kansas.
The multi-state rollout means that Chill Brands products are now available in the aforementioned stores as part of Betterments’ Feel Good Store wellness program.
Upon releasing its range of Tobacco-Free Nicotine (“TFN®“) flavour pouches in September 2021, Chill told investors that the new product line will exposes it to “major growth opportunities” in the global flavour pouch market that is expected to reach $32bn by 2026.
The wellness company, BettermentRS, works to connect the health and wellness industries specific to hemp brands with existing retailers as the CBD product category continues to grow.
Having partnered with Chill Brands Group in June 2020, BettermentRS already markets several of the business’ products to its network of retail outlets. Chill Brands operates primarily in the US with its products distributed both online and in convenience retail outlets.
Betterment describes its vetting process in the hemp and CBD products space as a method by which it can ‘reduce risk and enhance sales performance’ for participating retail chains. This includes holistic CBD training, education, and merchandising support for retailers.
Whilst shares in Chill Brands have shed nearly 70% in value since the beginning of September, the stock jumped as much as 26.67% during late morning trading to 14.25p.
Commenting on the multi-state roll-out BettermentRS’s President, Dorsey Sparks, outlined to investors: “The CBD products offered by Chill Brands are among the top performers within the BettermentRS Feel Good
Shop - a fixture of our 3PL supply-chain solution that is helping pioneer high-quality standards for the CBD products placed with our retail partners.
Sparks added that: “Our company ensures retailers receive premium quality brands, and currently Chill Brands CBD is meeting these standards. Partnerships are key to providing consumers the quality and kinds of products they desire and deserve, and we are pleased with the way that Chill Brands CBD products have been received in our retailer locations.”
The company had recently faced some difficulties in regard to its US product rollout, with the pace of the programme having been influenced by widespread international logistical delays.
Despite the ongoing delays, the company told investors in a recent trading update that all previously announced targets, distribution agreements, and partnerships ‘remain in place.’
Speaking at the time of the announcement, Trevor Taylor, Co-CEO of Chill Brands said:
“While it is regrettable that logistics issues have impacted on the pace of the rollout in the short-term, we are confident that previously announced targets are realistic and achievable.”
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