26-Nov-2020 By Gary Scattergood
Supplement giant Swisse is to launch four new hemp-based products for the Italian market after its parent company Health & Happiness (H&H) placed a $1m order with Australian CBD firm Bod - its exclusive global partner.
The hemp seed oil products, which are in soft gel cap form, are designed to target specific need states including sleep, energy levels, stress and general wellness.
Bod and Hong Kong-listed H&H will launch the products in over 4,000 pharmacies across Italy, as well as through Swisse’s ecommerce channels.
The launch will be complimented by Swisse branded marketing and sales initiatives, as well as in store promotions and social media campaigns utilising high profile influencers.
The launch will mark the fourth major market that both parties have launched CBD and hemp products. Products are currently being sold in Australia, the United Kingdom, and the Netherlands, with entry into other European countries and the United States in the coming months.
As per the company’s exclusive licensing agreement with H&H, Bod will also receive a royalty on net product sales, as well a cost plus margin for the supply of its extracts and formulas, underpinning additional revenue growth.
Bod has now commenced manufacturing of the products and expects first deliveries to retailers to occur in the coming months.
Court ruling
In addition, following a recent ruling by the Court of Justice of the European Union outlining that CBD cannot be regarded as a narcotic, Bod will progress discussions to launch CBD products under the Swisse brand into a number of key European markets.
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