Skin care brand Cannuka only came to market towards the end of last year, and already the company has received $750,000 in funding and seen 70 percent month-to-month growth in sales.
What’s the secret ingredient behind its success? Cannabis.
The brand’s products consist of a combination of CBD oils and manuka honey.
“CBD...is a very powerful anti-inflammatory...But we knew we needed to complement that with another ingredient,” explained Cannuka's Founder and CEO, Michael Bumgarner. “That’s when we found manuka honey, [which] is the most powerful antibacterial honey in the world.”
On top of the ingredients, Cannuka’s branding was designed to appeal to a wider market.
“We knew because we’re in the cannabis space we had to be approachable,” said Bumgarner. “It’s harder to explain the benefits because you have that stigma still about it.”
So far, Cannuka has been selling direct-to-consumer through its website but now wants to hit brick-and-mortar stores.
For the full interview, [click here](https://cheddar.com/videos/inside-the-power-of-cbd-for-skincare).
The Biden administration has unveiled a plan, Plan B, to address the student loan debt crisis. It offers to cancel up to $20,000 in interest for borrowers enrolled in income-driven repayment plans. This proposal aims to reset balances for those facing growing debt due to unpaid interest, benefiting low—and middle-income borrowers. An estimated 25 million borrowers are eligible for some form of interest forgiveness.
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