1933 Industries Inc (OTCMKTS:TGIFF) recently celebrated a key expansion milestone in the U.S after opening more than 800 retail outlets for its cannabis brands.
The achievement highlights the company’s commitment to expanding its business into more areas as part of its strategy to expand its CBD Brand Distribution. So far the impressive number of retail outlets allow 1933 Industries to achieve coast-to-coast distribution in the U.S. Although it has impressive figures, the company intends to continue expanding in line with its plan to provide customers more access to its Canna Hemp™ brand.
“We have been extremely successful at building our own distribution channels across the country, which is now one of the largest networks of CBD and a key differentiator of our Company,” stated 1933 Industries president, Ms. Ester Vigil.
Vigil also pointed out that her company’s integrated market approach might attract third-party partners. This is particularly because TGIFF basically controls all the processes from cultivation, extraction, marketing, manufacturing, and sales. It also handles the branding, as well as distribution. It also plans to commence CBD processing before the end of 2019.
The Canna Hemp brand consists of more than 70 agricultural hemp-based, high-quality products infused with CBD. The products also focus on a wide variety of effects. Market analysts and researchers forecast that CBD sales will reach $20 billion in the U.S market alone by 2024.
1933 Industries receives permanent occupancy permit for Las Vegas facility
1933 Industries recently announced that it was awarded a permanent residency permit for a facility located in Las Vegas, Nevada. The facility is important for the company’s operations in Las Vegas, especially as far as its expansion plans in the state are concerned.
TGIFF CEO Chris Rebentisch stated that his company was pleased about moving into the new facility, as well as commencing operations. The firm expects the facility to increase its flower cultivation by five-fold and this will also boost the growth of its AMA branded products. The facility will therefore be accretive to the company’s revenues in the future and even help it to attract more business partners in the future.