Love Hemp Online Sales Increase as Overall Growth Strategy is Implemented
Wholly owned subsidiary Love Hemp grows online presence and product portfolio, increases sales month over month during pandemic
LONDON, UK / ACCESSWIRE / May 7, 2020 / World High Life PLC, (AQSE:LIFE)(OTCQB:WRHLF) the AQSE and OTCQB listed investment company, is pleased to provide an update on the progress of its wholly owned subsidiary, Love Hemp, during the global Covid-19 pandemic.
Love Hemp is passionate about creating the UK's leading range of trusted CBD products, with new product development at the heart of the brand. Love Hemp was the first company to produce functional spring water in the UK infused with CBD. Oils, sprays, vapes, chocolate, jelly domes and beauty products including its innovative CBD infused face mask and body salves have all followed. In response to current challenges, Love Hemp has shifted its focus, building on the opportunity to achieve stronger online sales, achieving a 39% increase month-on-month since January 2020, whilst expanding its offerings to meet consumer demand.
Corporate Highlights
The Love Hemp brand (www.love-hemp.com) has increased online sales by 39% month over month since January 2020
The brand has secured a number of notable listings with leading retailers including Boots, to complement its existing listings with Ocado, Holland and Barrett and Sainsbury's
According to Alliance Healthcare, the UK's leading distributor to Pharmacies and Independent Retailers, the Love Hemp brand is now its best-selling CBD brand
The brand is in negotiations with some of the UKs' largest retailers for multiple new product listings from September 2020
To support growing demand and sales, Love Hemp's secondary online retailer, CBDOilsUK (www.cbdoilsuk.com), is expanding its product portfolio with three new brands and a renewed web presence in the near future
LH Botanicals (www.lhbotanicals.com), Love Hemp's CBD wholesale production business, is adding production capacity and new product lines with the acquisition of new machines
Having secured a number of notable listings with leading retailers including Boots, Ocado, Holland and Barrett and Sainsbury's, as well as being recognized on the list of Best CBD Oil Brands in the UK by the Evening Standard in August 2019, Love Hemp also won the best CBD Brand in The Beauty Shortlist Awards 2020.
New product development is at the heart of the business, with Love Hemp Immune launching in April 2020, more than six-months ahead of schedule, highlighting the brand's ability to be flexible and agile, whilst responding to consumer needs amidst the current circumstances. There is also a range of new products in development ranging from confectionary to drinks, oils and sprays. Brand renewal work carried out by external marketing partners, Propaganda, will be live in retail stores and online from October 2020.
Additionally, the company's online retailer, CBDOilsUK, is expanding its product portfolio with the launch of three brands within the next two months, whilst its wholesale production unit, LH Botanicals, is committed to fully supporting customers through this challenging time and has increased production capacity with the acquisition of new capsule and bath bomb production machines.
Tony Calamita, CEO at Love Hemp commented: "There's no question that the challenges businesses across the world are facing currently are unique. Whilst bricks and mortar stores have either closed or experienced less foot traffic and reduced hours, it has highlighted the need for us to have a robust online presence in order to keep people engaged with our brands and products. We have expanded our online offerings and are committed to continuing to provide the best experience for our customers, so they are able to continue to purchase and engage with us in an efficient way, with minimal disruption. Fortunately, consumer demand for our products is growing and we have adapted, thanks to a great team effort, to be able to grow the business under new circumstances, expanding our e-commerce presence and education marketing, which will be the foundations of our model going forward."
For further information please contact:
David Stadnyk
Founder & CEO
World High Life PLC
North America toll-free, 1 (888) 616-WRHLF (9745)
+44 (0) 7926 397 675
AQSE Corporate Adviser
Mark Anwyl/Allie Feuerlein
Peterhouse Capital Limited
+44 (0) 20 7469 0930
Financial PR
Camilla Horsfall/Megan Ray
Blytheweigh
+44 (0) 20 7138 3224
Camilla.horsfall@blytheweigh.com
For more information on World High Life please visit: www.worldhighlife.uk
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
Cautionary Note Regarding Forward Looking Information
We seek safe harbour. Some statements contained in this news release are "forward looking information" within the meaning of securities laws. Forward looking information include, but are not limited to, statements regarding the use of proceeds of the non-brokered private placement and payment of the debt settlements. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual results to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. We do not undertake to update any estimate at any particular time or in response to any particular event, except as required by law.
SOURCE: World High Life PLC
ReleaseID: 588845
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