Cannabis operator Flora Growth Corp. (NASDAQ:FLGC) announced Tuesday that its Mind Naturals skincare brand has launched sales through Walmart’s (NYSE:WMT) Walmart.com and Coppel, a nationwide department store in Mexico.
The launch includes 12 products from the Mind Naturals portfolio, initially on e-commerce with subsequent plans to sell in brick and mortar retail locations.
This launch expands upon last month’s initial orders for Mind Naturals to Mexico and Spain. Walmart is one of the leading retail chains in Central America, while Coppel has 1,253 stores in Mexico.
It is estimated that the global market for cannabis and its derivatives will generate sales of $102 billion by 2026, and Mexico is expected to be one of the countries with the highest commercialization of CBD products.
“We are excited to begin bringing high-quality, sustainable CBD skincare products to Mexico,” Luis Merchan, CEO of Flora Growth Corp stated. “This agreement represents our first foray into the Mexican market and furthers our global foothold as a leader in plant-based wellness and lifestyle brands. As the cannabis market continues its rapid expansion across the globe and into various sectors, we are poised to meet the needs of the market at every touch point.”
Flora Growths’ shares were trading 21.03% higher at $2.36 per share during Tuesday’s pre-market session.
Photo: Courtesy of CRYSTALWEED cannabis on Unsplash