Charlotte’s Web Sign Off On Deal To Get Their Products Into Hong Kong & Greater China … Good Luck With That

Recent reports from Hong Kong have shown that the authorities don’t appear overly enamoured with CBD products and like everybody else we, at CLR, are clueless as to the reality of CBD “legality” on the mainland. If anybody tells you they know they are outright lying straight  to your face

CW are either playing a very long game or it’s the usual modus operandi of the Chinese distributor offering the earth but the sad reality is that not much will actually happen (CLR was based in HK for a decade and we can assure you, dear reader, we heard many a similar sob story)

If Charlottes Web think that this deal will boost the long term decline of their stock from the glory day of 2018-19 we wish them the best of luck but won’t be joining them on that journey.

Anyway– this is what they say will happen in their press release

Under the terms of the Agreement, Energy Hemp will have exclusive distribution rights for Charlotte’s Web line of THC-free broad-spectrum CBD products within the Greater China territory with initial availability planned for Hong KongTaiwan and Macao. Product SKUs will include gummies, capsules and oil tinctures, with plans to extend offerings over time.

A flagship Charlotte’s Web retail store, owned and operated by

Energy Hemp is planned for Hong Kong in 2023.

 

Sounds fantastic doesn’t it. Until you read this

China has a large aging population and CBD hemp extracts are often sought to help alleviate some of the discomforts of old age.  In addition, hemp extract products may help support sleep and daily stress among the younger generations of Chinese that are managing high-pressure lives. In the coming months, Energy Hemp plans to launch a direct-to-consumer e-commerce web store to service the territories of Hong KongTaiwan and Macau, providing much of the Chinese population with access to the wellness benefits of Charlotte’s Web market-leading products.

“We have been developing this opportunity with Energy Hemp for some time and are proud to announce this new partnership to launch into Greater China,” said Jacques Tortoroli, Chief Executive Officer of Charlotte’s Web. “This agreement is another significant example of Charlotte’s Web’s international expansion through an asset-light model with strategic local and regional partners – particularly in Greater China where hemp has been a vital part of its ancient cultural and medicinal history. It’s critical to have a trusted regional partner that can bridge the plant’s legacy with Charlotte’s Web’s commitment to innovation and quality for consumers, partners, and the Chinese business environment. I look forward to a long-term relationship, including working together on efforts to support hemp policy reform in mainland China to enable market access there.”

Energy Hemp management is the same team that pioneered China’s cigar and luxury goods market with Davidoff brand of Switzerland; one of the most welcomed cigar brands in China.  Energy Hemp management includes executives from stem cell, neuron cells R&D and products; skincare, supplement, food R&D and products; FMCG market channel.

“We are always seeking category brand leaders to introduce to the Chinese markets and are excited to bring Charlotte’s Web CBD wellness to the Chinese populations,” said Eric SZE Li Ping, president of Energy Hemp Biotechnology Ltd. “We have a strong track record of introducing and establishing markets in China for leading international brands. As the leading global CBD brand, Charlotte’s Web is an excellent fit with its extract reputation and consumer trust.”

In addition to the pending eCommerce web store presence, plans are underway for future retail presence for consumers in Hong KongTaiwan and Macau.

About Energy Hemp Biotechnology Ltd.

Energy Hemp Biotechnology Limited is a Hong Kong-based private limited company established in 2016. The company was one of the earliest hemp platforms in Asia to focus on the development and application of hemp products.  Its product line covers hemp-based dietary food, skincare, beverages, leisure products and other aspects of life. The company is the agency for a variety of hemp products from the United States of America and also has self-developed product series, such as health series, skincare series, and beverage series.  Energy Hemp is also a member of the China Narcotic Drug Association, a State-level policy-making entity, guiding the future of the hemp market in China.

Energy Hemp Biotechnology Limited is the only designated Asia partner of Charlotte’s Web.

 

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