Green Growth Brands has gained access to 108 prime retail locations owned by Simon Property Group, the largest shopping mall operator in the US. This acquisition will expand the chain of CBD-infused personal care product shops under the Seventh Sense Botanical Therapy brand. The product line will offer high-quality CBD-infused products at affordable prices.
“Our partnership with Simon allows Green Growth Brands to launch our brands and CBD products in premier shopping destinations across the US,” said Peter Horvath, CEO of Green Growth Brands in a press release. “Our management team has had decades of experience working closely with developers and operating premium retail stores in their properties. We know this arrangement gives us access to the best locations, foot traffic, and consumers.
“We look forward to introducing our remarkable retail experience and line of CBD products to Simon shoppers in the near future.”
The collaboration with Simon makes it the first of its kind in the CBD industry and will open new markets to reach new customers. Green Growth Brands recently opened its new Seventh Sense CBD shops in Glenbrook Square located in Fort Wayne, Indiana and Hamilton Place located in Chattanooga, Tennessee. These new stores represent Green Growth Brands strategy for CBD retailing with a planned network of opening and operating hundreds of shops. The brand recently opened its first Seventh Sense CBD Shop at the Fayette Mall in Lexington, Kentucky and launched its eCommerce website ShopSeventhSense.com.
“Early results have seen Seventh Sense products selling at three times the typical performance of personal care products, accomplished with never-seen-before brands and zero marketing beyond point of sale. We could not be happier with the way the brand and the network are growing,” stated Horvath.
Simon operates high-profile properties including Roosevelt Field in New York, The Galleria in Houston, and Woodbury Common Premium Outlets in Central Valley, New York.
“We are constantly on the lookout for cutting-edge new concepts, like the Green Growth Brand shops,” said John Rulli, President of Simon Malls. “We are committed to adding new and dynamic retailers and uses to our shopping destinations, and the Green Growth Brand shopping experience is exactly the type of innovation our customers want and expect from us. We’re excited to work on the Green Growth Brand launch, and look forward to a long and deepening relationship as we build this network together.”
Shopping malls continue to transform as reported by Small Business Trends, and that transformation is accelerating. The way consumers shop is dramatically changing, and the introduction of Green Growth Brands shops and other cannabis products are predicted to fill the void left by anchor tenants and other chains such as Victoria’s Secret closing their retail outlets.
However, according to The Marketing Journal, the US is still oversaturated with stores, at 23.5 square feet of retail space per person, compared with 16.4 square feet in Canada and 11.1 square feet in Australia.
There is also a very powerful shift coming with consumers—Gen Z who are categorized as consumers age 20 and younger. Accenture’s global research (nearly 10,000 respondents in 13 countries) reveals that this demographic represents the go-to online choice for shopping. The differences and evolving similarities between Millennials and Gen Zs will have a profound impact on retailers and how these two demographics will purchase products from the cannabis industry.