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Partnership Broadens Distribution of PlusCBD™ Oil Products to More Than 380 Vitamin Shoppe Locations
SAN DIEGO, Aug. 22, 2019 (GLOBE NEWSWIRE) -- CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent supplier and manufacturer of hemp cannabidiol (CBD) products, is pleased to announce further expansion of its industry-dominating PlusCBD™ Oil brand into the specialty retail channel with The Vitamin Shoppe, Inc. (NYSE: VSI).
CV Sciences’ expansion broadens distribution and availability of a broad assortment of the Company’s best-selling PlusCBD™ Oil products. Distribution across The Vitamin Shoppe’s national footprint includes both topical products, such as PlusCBD™ Oil Extra Strength Balm and recently launched PlusCBD™ Oil Roll-On, as well as PlusCBD™ Oil full spectrum hemp extracts including Gold Formula Softgels, Gold Formula Drops, and Total Plant Complex Sprays and Capsules. PlusCBD™ Oil products will be available beginning on September 22, 2019 at 383 Vitamin Shoppe stores in 30 U.S. states and Puerto Rico. This expansion brings CV Sciences’ PlusCBD™ Oil distribution to more than 5,300 retail locations throughout the U.S.
“The Vitamin Shoppe is an ideal retail partner for CV Sciences as we continue our rapid expansion into national retailers,” said Joseph Dowling, Chief Executive Officer of CV Sciences. “Their customers are savvy shoppers focused on health and wellness with a keen eye for high quality, efficacious products that promote a healthy lifestyle. We are very pleased to kick off our partnership with The Vitamin Shoppe and bring PlusCBD™ Oil products to their discerning shoppers.”
“The Vitamin Shoppe is excited to introduce PlusCBD™ to our assortment of trusted CBD hemp extract products,” said Sharon Leite, Chief Executive Officer of The Vitamin Shoppe. “This category has generated immense interest from wellness consumers as they seek out the innovative benefits of CBD hemp extract. At The Vitamin Shoppe, our customers can shop these products with the confidence of knowing we offer industry-leading quality, service and guidance with all of our products and each of our partner brands.”
PlusCBD™ Oil has the top-selling CBD supplement in the Total U.S. Natural Channel and its Extra Strength Balm ranks #1 in sales in both the Total U.S. Natural Channel and Total U.S. MULO (Multi Outlet) over the last 52 weeks* among CBD products within Topical Analgesics , according to SPINS and IRI data, respectively. Brightfield Group, a leading predictive analytics and market research firm for the CBD market, expects $1.3 billion in sales of hemp CBD topicals in 2019, with a compound annual growth rate of 169% from 2018 – 2022.
About CV Sciences, Inc.
CV Sciences, Inc. (OTCQB:CVSI) operates two distinct business segments: a consumer product division focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors; and a drug development division focused on developing and commercializing CBD-based novel therapeutics utilizing CBD. The Company’s PlusCBD™ Oil is the top-selling brand of hemp-derived CBD on the market, according to SPINS, the leading provider of syndicated data and insights for the natural, organic and specialty products industry. CV Sciences’ state-of-the-art facility follows all guidelines for Good Manufacturing Practices (GMP) and the Company’s full spectrum hemp extracts are processed, produced, and tested throughout the manufacturing process to confirm the cannabinoid content meets strict company standards. With a commitment to science, PlusCBD™ Oil’s benefits in healthy people are supported by human clinical research data, in addition to three published clinical case studies available on PubMed.gov. PlusCBD™ Oil was the first hemp CBD supplement brand to invest in the scientific evidence necessary to receive self-affirmed Generally Recognized as Safe (GRAS) status. CV Sciences, Inc. has primary offices and facilities in San Diego, California. Additional information is available from OTCMarkets.com or by visiting www.cvsciences.com.
About the Vitamin Shoppe, Inc. (NYSE: VSI)
The Vitamin Shoppe® is an omni-channel specialty retailer and wellness lifestyle Company with the mission of providing customers with the most trusted products, guidance, and services to help them become their best selves, however they define it. Based in Secaucus, New Jersey, the Company offers a comprehensive assortment of nutritional solutions, including vitamins, minerals, specialty supplements, herbs, sports nutrition, homeopathic remedies, green living products, and natural beauty aids. In addition to carrying products from approximately 700 national brands, The Vitamin Shoppe offers products from its proprietary brands within its owned and wholesale channels, including: The Vitamin Shoppe®, BodyTech®, BodyTech Elite®, True Athlete®, plnt® and ProBioCare®. The Company conducts business through more than 750 company-operated retail stores under The Vitamin Shoppe and Super Supplements banners, and via its website, www.vitaminshoppe.com.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties.
Scott Van Winkle
*SPINS and IRI MULO scan data, 13 quad weeks ending April 21, 2019