Mary's Nutritionals, a maker of cannabinoid-infused wellness and beauty products, said Wednesday that it's partnered with popular lifestyle brand Free People to sell a variety of hemp-derived CBD products.
Through the partnership, Mary's Nutritionals CBD products will be sold in Free People retail locations in Palm Springs, California and Burlington, Vermont. The products include transdermal gel pens and patches for topical pain relief, a muscle freeze for aches and body strain, bath bombs and a burnout spray for dehydrated skin.
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Why It's Important
Consumers are showing increased interest in CBD products, and wellness and beauty products in particular. The federal legalization of hemp-derived CBD at the end of 2018 served as another catalyst for consumer interest.
Jefferies estimates the CBD beauty product market could reach $25 billion within a decade and amass 15 percent of the total skincare industry.
Partnering with a popular lifestyle brand allows Mary Nutritionals to keep its market position in times when larger companies are entering the CBD space and CBD companies are establishing partnerships with traditional retailers.
For example, Green Growth Brands Inc (OTC: GGBXF) recently partnered with footwear retailer DSW Inc. (NYSE: DSW) to sell its Seventh Sense CBD products in multiple locations across the U.S. At the same time, major beauty product companies like Ulta Beauty Inc (NASDAQ: ULTA) and Estee Lauder Companies Inc (NYSE: EL) are releasing their own CBD offerings.
On March 29 and April 6, Free People and Mary's Nutritionals will host events at locations in Palm Springs, California and Burlington, Vermont, respectively, where they will feature product presentations and demonstrations to educate consumers about the benefits of CBD and incorporating it into their wellness routines.
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