Martha Stewart is bringing her brand cache to cannabis. The lifestyle empress is partnering with Canopy Growth ($CGC), the Canadian pot grower and distributor, to help develop CBD and hemp-infused products for humans and animals, the company announced in a statement.
The partnership marks another step in the mainstreaming of marijuana, which is now legal for recreational use in Canada, where Canopy is based, and in a handful of U.S. states. CBD, the non-psychoactive cannabanoid, got a boost in the U.S. when President Trump signed the Farm Bill, legalizing hemp.
Stewart said in a statement that she is "delighted to establish this partnership with Canopy Growth and share with them the knowledge I have gained after years of experience in the subject of living."
Canopy said Stewart will first work on a line of CBD-infused products for pets. The company is currently in clinical trials on cannabis compounds meant to treat anxiety in animals.
Stewart will be in good company. Canopy, through a subsidiary, already has a partnership with Snoop Dogg who co-hosts a cooking show with Stewart on VH1.
By lending her name to Canopy's brand, Stewart is helping to further legitimize a red-hot industry that still faces hurdles in widespread acceptance in the U.S.
“As soon as you hear the name Martha, you know exactly who we’re talking about,” Canopy CEO Bruce Linton said in a statement.
Marijuana remains a schedule 1 drug at the federal level, though legalization at the state level continues to spread. Public sentiment has also changed: six in 10 Americans now say pot should be legalized for recreational use, according to Pew.
Make sure your love don't cost a thing this Valentine's Day to any scammers. Note: we're not talking about your partner that didn't do the dishes after saying they would.
Landing founder and CEO Bill Smith shares how the company’s new Nomad pass and partnership with Frontier Airlines allows subscribers unlimited airfare and accommodations.
The pandemic yielded government financial support and (eventually) a surprisingly strong job market — but racial wealth disparities grew. Why is it so difficult to close the wealth gap?
Plenty of retailers and suppliers are reducing the variety of their offerings to focus instead on what they think will sell best. Many businesses have decided less is better, justifying their limited selection by asserting shoppers don’t want so much choice.
Joe Pompliano, author of the Huddle Up newsletter, breaks down the biggest moments from Super Bowl LVIII, from potentially record-breaking viewership to Taylor Swift’s highly anticipated appearance.
David Wright, President and owner of Wright Financial Group, shares his thoughts on why the Federal Reserve seems hesitant to cut rates, and why regional bank stocks could help move the needle.
Disney and Fortnite-maker Epic Games will collab on making new video games with Disney characters. Hopefully it will be more than Mickey Mouse hitting the Griddy.
Hershey is cautioning on its 2024 profit growth as the company contends with rising cocoa costs, leading to increased prices for chocolate. The company anticipates its full-year earnings per share being relatively flat, partly due to higher cocoa and sugar costs.
