A company selling cannabidiol-infused personal-care products has teamed up with Simon to open 108 mall stores.
Cannabidiol — or CBD — is a non-psychoactive ingredient in cannabis that is said to have medicinal properties. The agreement is for Ohio-based Green Growth Brands to open stores under its Seventh Sense Botanical Therapy brand, bringing its cannabidiol body-care products into the mall environment and thus boosting the company's profile. The first of these stores is scheduled to open next month at Simon's Castleton Square mall, in Indianapolis. The rest are to be opened over the course of this year.
"We are constantly on the lookout for cutting-edge new concepts, like the [Green Growth Brands] shops," said John Rulli, Simon's chief administrative officer and the president of the malls division, in a press release. "We are committed to adding new and dynamic retailers and uses to our shopping destinations, and the GGB shopping experience is exactly the type of innovation our customers want and expect from us. We're excited to work on the GGB launch, and [we] look forward to a long and deepening relationship as we build this network together."
The first store is scheduled to open in March at Simon's Castleton Square mall, in Indianapolis
Green Growth Brands owns various brands that sell products containing cannabidiol, including The Source, a chain of four dispensaries selling marijuana products in Nevada. In January Green Growth Brands struck a deal with footwear company DSW to sell hemp-based products in some of the latter’s stores.
"Our partnership with Simon allows GGB to launch our brands and CBD products in premier shopping destinations across the U.S.," said Green Growth Brands CEO Peter Horvath. "Our management team has had decades of experience working closely with developers and operating premium retail stores in their properties. We know this arrangement gives us access to the best locations, foot traffic and consumers. We look forward to introducing our remarkable retail experience and line of CBD products to Simon shoppers in the near future."
Peter Horvath, CEO of Green Growth Brands and a nearly three-decade veteran of the retail industry
Horvath is a proven retail executive, having been with American Eagle Outfitters, DSW, Limited Brands and Victoria’s Secret.
GGB Kiosks LLC has given Simon Canada Management Ltd. $2.2 million in shares as part of a consulting agreement.
By Edmund Mander
Director, Editor-In-Chief/SCT
