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Canopy Growth's Martha Stewart CBD Line Scores First Nationwide Retail Deal

By Eric Volkman - Dec 8, 2020 at 7:13PM

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The lifestyle guru's latest brand extension makes its way to The Vitamin Shoppe shelves.

The Martha Stewart signature line of cannabidiol (CBD) products offered by Canopy Growth ( CGC -3.57% ) has found its way onto the shelves of a national retailer in the U.S. The marijuana company announced Tuesday that a deal has been struck with The Vitamin Shoppe to stock Martha Stewart CBD products in its stores and make them available through its web site.

They are only available to consumers in states that permit the sale of CBD products.

Cannabis derivative and plant.

Image source: Getty Images.

All told, The Vitamin Shoppe has over 780 stores throughout the U.S.; Martha Stewart CBD goods are available in more than 580. Consumers can also order online or through the company's app. The retailer is offering a 25% discount on all of the line's products through Dec. 30 with the use of a promotional code.

Canopy Growth formally introduced the comestible items in September. Seven hemp extract products, including oil drops and gummies in various flavors, are currently listed on The Vitamin Shoppe's website.

Canopy Growth is particularly happy with the timing of the deal. "We are pleased to partner with The Vitamin Shoppe to make Martha Stewart CBD more accessible to consumers across the U.S. at the height of this year's holiday shopping season," CEO David Klein said.

Martha Stewart modeling her namesake line of CBD products and ingredients.

Image source: Canopy Growth.

Canopy Growth has not yet provided any estimates as to how this new deal might impact its business, nor has it provided any of the financial particulars of the deal. It did say that this is the first nationwide retail distribution arrangement it's made for Martha Stewart CBD.

That seemed to be good enough for Canopy Growth investors, who bid the stock up by nearly 1.6% on Tuesday, against the 0.3% rise in the S&P 500.

 
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