Queen of all things home décor, sometimes notorious felon, and friend to Snoop Dogg, Martha Stewart is finally joining the cannabis industry … well, sort of. She just launched her very own line of CBD products. Stewart claims CBD is a part of her wellness routine, and the next logical step was starting her own brand.
Launching last Thursday, her product line offers gummies, gels, and oils, and will be under the umbrella of Canopy Growth, a company based in Canada. The CBD products will be available via Canopy’s site, and sit in the $30 and $40 price range.
“I was surprised to learn that while most people have heard of CBD, less than 20 percent of us have actually tried it,” Stewart said in a statement emailed to CNN Business regarding her new product line and its implications. “For me, that signals a lot of opportunity to create beautiful, elevated products that help people live well.”
Stewart’s line features gummies that look like French fruit candies, also known as pâte de fruits, and she claims that the fruity inspiration behind the gummies was based on her two favorite spots, her garden and her kitchen, and feature natural flavors including lemon, kumquat, blood orange and huckleberry. She also claimed she was involved closely on the product development side.
Martha’s Celeb Status
While Martha Stewart is certainly a household name, many are commenting that the market is already saturated with CBD products, and that tons of celebrities have already tacked their name onto CBD products in the hopes that they will sell better than competitor brands without celebrity endorsements. However Canopy still believes that this product will draw in dollars thanks to Stewart’s celebrity persona and the quality behind the products. They hope this will be a major help in launching their popularity into the U.S, as Canopy mainly has a foothold in Canada at this time.
“Martha brings that trusted voice,” the company told CNN Business regarding the star power she brings to the brand.
“From my understanding, many retailers (especially in the food/drug/mass channel) remain reluctant to sell CBD items due to the regulatory uncertainty and related confusion, but as these issues are resolved, Canopy should be advantaged by being able to leverage Constellation’s distribution and retail relationships,” said Jesse Pytlak, an analyst who looks into how CBD prices are trending. Pytlak feels that Canopy, with Stewart now under the umbrella, are poised to strike when CBD finally becomes FDA-approved.
Stewart also has plans to launch a skincare line focused on CBD products to compliment her existing line. She has already consulted on pet CBD product lines and plans to maintain her existing foothold in the industry and try and grow her impact.
While it’s not yet clear how well her products really will sell in the oversaturated market with the help of her star power, fruity goodies, and the brand she has above her, Stewart has definitely set her sites on the industry and doesn’t plan to give up any time soon.