You’ve likely read about star-studded names jumping aboard the CBD hype train, including Willie Nelson, as previously reported here on the Nothing But Hemp blog.
Now, a new (and rather different) celebrity is in the fray. Martha Stewart, famed home-goods expert and chef, is now entering the cannabidiol industry with an advisory role in CBD company Canopy Growth.
Martha Stewart intends for the company to produce an entire line of products for both humans and animals under her name-brand, according to Reuters. [1]
Stewart announced the new business partnership with the Canadian company on Thursday.
“I’m especially looking forward to our first collaboration together, which will offer sensible products for people’s beloved pets,” Stewart said in a statement. The first products in the release will be specifically for people’s animals, in hopes of drawing in an audience who may otherwise be hesitant to try out cannabis, Forbes said. [2]
There was no comment within that reporting on whether her current co-host on TV, Snoop Dogg, had an influence on her decision to move into the CBD market. Their joint show on VH1 is called "Martha & Snoop's Potluck Dinner Party."
Forbes, however, recently reported that Snoop Dogg has his own Canopy Growth CBD product line coming down the pike. That brand will be called “Leafs by Snoop.” [2]
According to the Reuters reporting, Canopy growth now plans to invest between $100 and 150 million in a New York hemp industrial park. [1]
“Martha is one of a kind and I am so excited to be able to work alongside this icon to sharpen our CBD product offerings across categories from human to animal,” Canopy Growth Chairman and co-CEO, Bruce Linton, told People. [3]
Linton told CNBC that at first when he got an email from Snoop Dogg soliciting a business team-up, he thought it must be a joke. [4]
It wasn’t, and Snoop was looking to take advantage of the 4.3 million square feet of greenhouse and indoor hemp growing space Canopy’s location in Canada, CNBC reported.
While current information about Stewart and Snoop’s CBD foray is limited, it seems the future will bring more products under their branding. That mirrors in some ways Willie Nelson’s celebrity CBD brand, which currently only has one product, a CBD-infused whole bean coffee.
Still, the unifying factor across all the reporting on Martha Stewart’s announcement is that it bodes well for CBD.
Stocks in Canopy Growth were up Thursday, and experts in the industry are already speculating about what it could mean. The more household-names get involved in the industry that raises suspicions among some, the more trust will be generated and the healthier the products, industry and economy overall will become.
The wave of celebrities adopting CBD as an avenue to success and to helping others across the U.S. is now well underway.
Sources
[1] https://www.reuters.com/article/us-canopy-growth-marthastewart/martha-stewart-canadian-pot-business-in-joint-effort-aimed-at-pets-idUSKCN1QH1UN
[2] https://www.forbes.com/sites/emilyprice/2019/02/28/martha-stewart-is-launching-her-own-cbd-line/#26ac8b64dabd
[3] https://people.com/home/martha-stewart-partnership-marijuana-company-cbd-products/
[4] https://www.cnbc.com/2019/03/01/martha-stewart-had-help-on-her-deal-with-weed-grower-canopy-snoop-dogg.html