Canopy Growth and Sequential Brands Group, Inc. announced that Martha Stewart has joined forces in an advisory role “to assist with developing and positioning a broad new line of product offerings across multiple categories.”
While some details of the partnership and corresponding products remain unclear, we do have a few clues. Canada-based Canopy Growth—the largest cannabis company in the world—is developing products infused with cannabidiol (CBD) and other cannabinoids for both humans and animals. Hemp-derived CBD products for pets and farm animals are becoming increasingly popular.
“I am delighted to establish this partnership with Canopy Growth and share with them the knowledge I have gained after years of experience in the subject of living,” Martha Stewart said in a press release. “I’m especially looking forward to our first collaboration together, which will offer sensible products for people’s beloved pets.”
— Canopy Growth (@CanopyGrowth) February 28, 2019
The Emmy Award-winning television show host and entrepreneur has written 94 books and The Martha Stewart brand reaches approximately 100 million consumers. Stewart’s household name is synonymous with homemaking and gardening, but she’s no stranger to the world of cannabis, either. The VH1 series Martha & Snoop’s Potluck Dinner Party, for instance, is riddled with cannabis jokes, mostly due to her pal Snoop Dogg, but she has fun with it.
“As soon as you hear the name Martha, you know exactly who we’re talking about,” stated Canopy Growth Chairman and co-CEO, Bruce Linton. “Martha is one of a kind and I am so excited to be able to work alongside this icon to sharpen our CBD product offerings across categories from human to animal.” Canopy Growth is a leading producer of cannabis, and the company indicated in January 2019 that it will invest between $100-150 million in a hemp industrial park located in New York State. Stewart’s name is bound to appear more frequently in cannabis news in the near future, and the announcement caused Sequential Brands stock options to soar.