Flora Growth Corp. Signs Exclusive Distribution Agreement with Nordic Tower AB for Vessel Products in Sweden and the Nordic Region
Flora Growth Corp. (NASDAQ: FLGC) has signed an exclusive distribution agreement with Nordic Tower AB for Vessel Brand products in Sweden and the Nordic region. Nordic Tower will become the exclusive distributor of Flora's Vessel Brand, known for high-quality vaping hardware, in Sweden, Norway, Denmark, Finland, and Iceland.
This partnership is part of Flora's European market expansion strategy, aiming to meet the growing demand for cannabis accessories. The collaboration will leverage Nordic Tower's market knowledge and online presence to ensure a strong entry for Vessel hardware in these countries.
The rollout of Vessel products is expected to begin in the fourth quarter of 2024, starting with Sweden and expanding to other Nordic countries. Nordic Tower will lead marketing and distribution efforts to gain visibility and traction for Vessel products in these markets.
Flora Growth Corp. (NASDAQ: FLGC) ha firmato un accordo di distribuzione esclusiva con Nordic Tower AB per i prodotti del marchio Vessel in Svezia e nella regione nordica. Nordic Tower diventerà il distributore esclusivo del marchio Vessel di Flora, noto per l'hardware di vaporizzazione di alta qualità, in Svezia, Norvegia, Danimarca, Finlandia e Islanda.
Questa collaborazione fa parte della strategia di espansione nel mercato europeo di Flora, mirata a soddisfare la crescente domanda di accessori per cannabis. La partnership sfrutterà la conoscenza del mercato e la presenza online di Nordic Tower per garantire un forte ingresso per l'hardware Vessel in questi paesi.
Il lancio dei prodotti Vessel è previsto per il quarto trimestre del 2024, partendo dalla Svezia e espandendosi verso altri paesi nordici. Nordic Tower guiderà gli sforzi di marketing e distribuzione per ottenere visibilità e trazione per i prodotti Vessel in questi mercati.
Flora Growth Corp. (NASDAQ: FLGC) ha firmado un acuerdo de distribución exclusivo con Nordic Tower AB para los productos de la marca Vessel en Suecia y la región nórdica. Nordic Tower se convertirá en el distribuidor exclusivo de la marca Vessel de Flora, conocida por su hardware de vapeo de alta calidad, en Suecia, Noruega, Dinamarca, Finlandia e Islandia.
Esta asociación es parte de la estrategia de expansión en el mercado europeo de Flora, con el objetivo de satisfacer la creciente demanda de accesorios para cannabis. La colaboración aprovechará el conocimiento del mercado y la presencia en línea de Nordic Tower para asegurar una fuerte entrada del hardware Vessel en estos países.
El lanzamiento de los productos Vessel se espera que comience en el cuarto trimestre de 2024, empezando por Suecia y expandiéndose a otros países nórdicos. Nordic Tower liderará los esfuerzos de marketing y distribución para ganar visibilidad y tracción para los productos Vessel en estos mercados.
플로라 성장 주식회사 (NASDAQ: FLGC)는 노르딕 타워 AB와 독점 유통 계약을 체결하여 스웨덴 및 노르딕 지역에서 Vessel 브랜드 제품을 유통하게 되었습니다. 노르딕 타워는 스웨덴, 노르웨이, 덴마크, 핀란드, 아이슬란드에서 고품질의 vaping 하드웨어로 알려진 플로라의 Vessel 브랜드를 독점적으로 유통하게 될 것입니다.
이번 파트너십은 플로라의 유럽 시장 확장 전략의 일환으로, 카나비스 액세서리에 대한 증가하는 수요를 충족하기 위해 기획되었습니다. 이 협력은 노르딕 타워의 시장 지식과 온라인 존재감을 활용하여 이러한 국가에서 Vessel 하드웨어의 강력한 진입을 보장할 것입니다.
Vessel 제품의 출시는 2024년 4분기에 시작될 것으로 예상되며, 스웨덴에서 시작하여 다른 노르딕 국가로 확장될 것입니다. 노르딕 타워는 이러한 시장에서 Vessel 제품에 대한 가시성과 입지를 확보하기 위해 마케팅 및 유통 노력을 선도할 것입니다.
Flora Growth Corp. (NASDAQ: FLGC) a signé un accord de distribution exclusif avec Nordic Tower AB pour les produits de la marque Vessel en Suède et dans la région nordique. Nordic Tower deviendra le distributeur exclusif de la marque Vessel de Flora, reconnue pour son matériel de vapotage de haute qualité, en Suède, Norvège, Danemark, Finlande et Islande.
Ce partenariat fait partie de la stratégie d'expansion sur le marché européen de Flora, visant à répondre à la demande croissante d'accessoires pour le cannabis. La collaboration tirera parti des connaissances de marché et de la présence en ligne de Nordic Tower pour assurer une entrée forte pour le matériel Vessel dans ces pays.
Le lancement des produits Vessel devrait débuter dans le quatrième trimestre 2024, en commençant par la Suède et en s'étendant à d'autres pays nordiques. Nordic Tower dirigera les efforts de marketing et de distribution pour gagner en visibilité et en traction pour les produits Vessel sur ces marchés.
Flora Growth Corp. (NASDAQ: FLGC) hat einen exklusiven Vertriebsvertrag mit Nordic Tower AB für Vessel-Markenprodukte in Schweden und der nordischen Region unterzeichnet. Nordic Tower wird der exklusive Distributor von Floras Vessel-Marke, die für hochwertige Vaporizer-Hardware bekannt ist, in Schweden, Norwegen, Dänemark, Finnland und Island.
Diese Partnerschaft ist Teil von Floras Expansion auf dem europäischen Markt, die darauf abzielt, der wachsenden Nachfrage nach Cannabis-Zubehör gerecht zu werden. Die Zusammenarbeit wird das Marktverständnis und die Online-Präsenz von Nordic Tower nutzen, um einen starken Eintritt von Vessel-Hardware in diesen Ländern zu gewährleisten.
Die Markteinführung der Vessel-Produkte ist für das vierte Quartal 2024 geplant, beginnend mit Schweden und einer Ausweitung auf andere nordische Länder. Nordic Tower wird die Marketing- und Vertriebsaktivitäten leiten, um Sichtbarkeit und Traktion für die Vessel-Produkte in diesen Märkten zu gewinnen.
- Exclusive distribution agreement for Vessel Brand products in Sweden and Nordic countries
- Expansion into European market to meet growing demand for cannabis accessories
- Leveraging Nordic Tower's market knowledge and established online presence
- Rollout of Vessel products expected to begin in Q4 2024
- None.
Insights
The exclusive distribution agreement between Flora Growth Corp. and Nordic Tower AB for Vessel products in Sweden and the Nordic region is a strategic move with moderate potential. While it opens up new markets for Flora's high-quality vaping hardware, the impact on the company's overall financial performance may be in the short term.
Key points to consider:
- The Nordic region represents a growing market for cannabis accessories, but it's still relatively small compared to other European markets.
- Nordic Tower's established presence and expertise in the region could accelerate Vessel's market penetration.
- The rollout beginning in Q4 2024 suggests that significant revenue impact won't be seen until 2025.
- Flora's market cap of
$18,178,488 indicates it's a small-cap company, so even moderate success in this new market could have a noticeable impact on its financials.
Investors should monitor the initial sales performance in Sweden and subsequent expansion to other Nordic countries to gauge the agreement's long-term value. While promising, this deal alone is unlikely to dramatically alter Flora's financial trajectory in the immediate future.
Fort Lauderdale, Florida--(Newsfile Corp. - September 26, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") is pleased to announce the signing of an exclusivity agreement with Nordic Tower AB ("Nordic Tower"), a distributor of and online marketer of smoke products across Sweden and the Nordic countries. This partnership will see Nordic Tower become the exclusive distributor of Flora's Vessel Brand, recognized for its high-quality and innovative vaping hardware, throughout Sweden, Norway, Denmark, Finland and Iceland.
This move is a component of Flora's ongoing expansion into the European market, positioning the Company to meet the rising demand for cannabis accessories in the region. The partnership with Nordic Tower will enable Flora to leverage the distributor's market knowledge and established online presence, ensuring a strong and effective entry for Vessel hardware in these countries.
Clifford Starke, Chief Executive Officer, expressed enthusiasm about the partnership, stating, "our collaboration with Nordic Tower is an important step in Flora's global strategy. The Nordic region represents a vibrant and expanding market for Vessel, and with Nordic Tower's proven expertise and market reach, we are confident that Vessel will become a leading brand in this part of the world. Our goal is to have Vessel accessible in every country where regulations permit."
Simon Davari, Chief Executive Officer of Nodic Tower, added, "We are looking forward to introducing Vessel's products to the Nordic market. Flora's dedication to quality aligns with our mission to provide consumers with the best products available. We believe that Vessel's cutting-edge design and premium performance will resonate with consumers across the region, and we intend to drive its success in Sweden and beyond."
The rollout of Vessel products is anticipated to begin in the fourth quarter of 2024, starting with Sweden and expanding into other Nordic countries shortly thereafter. Nordic Tower will spreadhead marketing and distribution efforts, ensuing that Vessel products gain visibility and traction in these markets.
About Smoke Tower AB
Smoke Tower AB operates Smoketower.com and is the largest online headshop in the Nordic region with over 20 years of experience in the industry. Smoke Tower started as a Swedish headshop in 1995. It has business relationships with innovative designers and hi-tech manufacturers all over the world. In 1997, it entered the world of online shopping with Smoketower.com. Since then, hundreds of thousands of smokers from more than 100 countries have purchased from the website.
About Flora Growth Corp.
Flora Growth Corp.'s mission is to become the leading NASDAQ small-cap international cannabis company. FLGC is a consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world. For more information on Flora, visit www.floragrowth.com.
https://justcbdstore.com/
https://www.vesselbrand.com/
https://justcbdstore.uk/
https://www.phatebo.de/home-en
https://www.australianvaporizers.com.au/
Investor Relations:
Investor Relations ir@floragrowth.com
Clifford Starke Clifford.Starke@floragrowth.com
Media:
media@floragrowth.com
Cautionary Statement Concerning Forward-Looking Statements
This press release contains "forward-looking statements," as defined by U.S. federal securities laws. Forward-looking statements reflect Flora's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words "believe," "expect," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," and the negatives of these words and other similar expressions generally identify forward-looking statements. These forward-looking statements include, but are not limited to, statements about: the partnership with Nordic Tower, Nordic Tower's ability to distribute Vessel products in Sweden and the Nordic region or at all, Vessel introducing innovative and high-quality products to the market or at all, Flora expanding in the European market, Vessel entering the European market, Vessel becoming a leading brand in the Nordic region or elsewhere, Vessel products resonating with consumers across the region in Sweden and beyond, and the rollout of Vessel products in the fourth quarter of 2024 or all. Such forward-looking statements are subject to various and risks and uncertainties, including those described under section entitled "Risk Factors" in Flora's Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (the "SEC") on March 28, 2024, as such factors may be updated from time to time in Flora's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov/edgar. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Flora's filings with the SEC. While forward-looking statements reflect Flora's good faith beliefs, they are not guarantees of future performance. Flora disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based on information currently available to Flora (or to third parties making the forward-looking statements).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224539
FAQ
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