Could home-based businesses – think Amway and Avon – be viable distribution channels for cannabis-related products?
HempMedsPX believes so. The company has inked a two-year agreement with an unnamed “home-based business organization” to distribute industrial hemp-based, cannabidiol-rich skin care products. Cannabidiol, or CBD, is a non-psychoactive component of marijuana that provides pain relief without the traditional “high” of consuming cannabis.
In a press release announcing the deal, the company also said the initial order includes over $1 million in products that will be shipped before the end of the first quarter.
The products to be sold via the distribution partner include both exclusive and non-exclusive offerings in HempMedPX’s CBD-based beauty line.
Some companies have started shipping products derived from industrial hemp across state lines – something businesses can’t do with marijuana or cannabis-based products. Developing new distribution chains now with hemp-based products could pay off significantly down the road as the country continues to lift restrictions on the industry.
HempMedsPX is a Medical Marijuana Inc. (Ticker: MJNA) portfolio company.