Flora Beauty Signs Agreement With Multinational Retailer Falabella to Distribute CBD Skincare Brand Mind Naturals
TORONTO, Nov. 02, 2020 (GLOBE NEWSWIRE) — Flora Growth Corp. (“Flora” or the “Company”) is pleased to announce that its Flora Beauty division has signed an agreement with the largest Latin American retailer, Grupo SACI Falabella (BCS:FALABELLA) (“Falabella”), to distribute products from Mind Naturals, the CBD skincare brand developed by Paulina Vega. The first order has been received and fulfilled from Falabella in Colombia.
Highlights:Falabella, which we consider the “Macy’s” of Latin America, is one of the largest retailers in Latin America, with over 250 retail locations, serving more than 30 million customers and generating over US$10.4 billion in revenues in 2019.Mind Naturals products will be available for purchase in up to 111 Falabella retail locations across Latin America.Initial rollout will start with the 15 highest-traffic retail centres in Colombia, with products already available.Mind Naturals products will also be available through online channels across Falabella’s e-retailer Linio, which sees over 290 million visitors per year and on Falabella.com.“The addition of Mind Naturals products to Falabella’s portfolio represents a massive step in the growth of Flora Beauty’s inaugural brand,” commented Luis Merchan, Flora’s President of Consumer Goods. “Our skincare products are developed to be of the highest quality, yet still affordable. By having Mind Naturals products available through Falabella, one of the largest retailers in Latin America, we can ensure we reach a maximum number of target consumers and more importantly, that those consumers can access the high-quality and sustainable beauty and skincare products they desire.”About the Distribution AgreementThrough this distribution agreement, Falabella will sell the full portfolio of Flora Beauty’s inaugural CBD skincare line Mind Naturals. The products will be sold initially in 15 physical retail locations in Colombia, with a focus on the highest-traffic retail centres. Falabella will be Flora Beauty’s exclusive retail partner in Colombia.Mind Naturals will also be available through Falabella’s growing e-commerce channels, Linio and Falabella.com, which operate across Brazil, Peru, Chile, Colombia, and Argentina, among others. This agreement creates the potential for Flora Beauty to expand distribution across other Latin American jurisdictions.About Flora BeautyFlora Beauty is Flora’s beauty and cosmetics division that produces natural beauty and skincare products with CBD to help consumers restore and thrive. The division currently has two lifestyle brands that will be produced using Flora’s CBD-oil.Flora Beauty’s Mind Naturals brand will cater to younger consumers that are starting a skincare regimen. In contrast, Flora Beauty’s AWE brand will cater to the prestige market and is intended for consumers who value customized and personal experiences. Both brands incorporate the present-day expectations of consumers by focusing on high-quality products with natural ingredients while prioritizing social responsibility and the environment.Earlier this summer, Flora Beauty announced the launch of its Mind Naturals brand, initially selling its products via electronic channels (https://mindskincare.com/) and targeting customers in Colombia and the United States. Flora Beauty’s Awe brand is expected to launch e-commerce sales later in 2020, while the launch of brick and mortar retail stores is expected by the fall of 2021. Flora Growth Corp.Flora is a vertically integrated cannabis company striving to be a globally recognized cannabis brand by leveraging low-cost production of cannabis to supply CBD oil to our portfolio of consumer and medical brands. Flora prioritizes organic ingredients and value-chain sustainability across its portfolio to create products that help consumers restore and thrive.For further information, contact:
+1 416 571 9037
Website: www.floragrowth.caCautionary Notes
This news release may contain forward-looking statements. These statements include statements regarding the agreement with Falabella for the distribution of Mind Naturals products in Colombia, the potential for distribution into other Latin American jurisdictions, the launch of Flora Beauty’s AWE brand, the Company’s operations, the development of Flora’s consumer facing divisions, and the Company’s strategy, and future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.