Green Growth Brands teams up with Brookfield Properties for store expansion
Green Growth Brands continues to infiltrate the nation’s shopping malls.
The cannabis and CBD brand announced it will open more than 70 shops selling personal care and beauty products infused with CBD oil at Brookfield Properties’ shopping centers throughout the United States. The plans will expand GGB’s physical footprint to approximately 280 total locations by the end of 2019, according to the company.
In February, Green Growth announced it was partnering with Simon Property Group to open 108 stores selling CBD products at Simon’s U.S. centers. The company also has an agreement to sell its products at DSW store locations.
In addition to opening stores under the Seventh Sense banner, Green Growth is expanding its portfolio with a new prestige brand called Green Lily, described as a “mindful-luxe CBD brand dedicated to empowering women.” Four Green Lily locations will open in the near future at Brookfield shopping centers.
“Brookfield Properties operates some of the most exciting and visited malls in the country, and we are thrilled to introduce our CBD shops to their centers,” said Peter Horvath, CEO of Green Growth Brands, Columbus, Ohio. “We know that consumers prefer to buy personal care and beauty products from physical stores, and this partnership will allow us access to millions of consumers.”
Brookfield Properties’ portfolio includes more than 160 retail real estate assets. Currently, there are seven GGB shops within the Brookfield portfolio.
“Curation of our shopping centers is fundamental to our ongoing evolution,” said Sandeep Mathrani, CEO of Brookfield Properties’ retail group and vice chairman of Brookfield Property Group. “It is our job to bring in retail offerings and experiences that today’s consumer desires and this includes GGB’s CBD products. GGB is at the forefront of this trend and we are pleased they will expand their reach within our portfolio.”
CBD, a non-psychoactive cannabinoid found in cannabis, has had a surge in popularity over the past couple of years. The market for products infused with CBD is booming and has the potential to become a $22 billion business by 2022, according to research firm Brightfield Group.