Love Hemp Group PLC Announces Asia Distribution Partnership with eCargo

Rhea-AI Summary

Love Hemp Group (AQSE:LIFE)(OTCQB:WRHLF) has formed a strategic distribution partnership with eCargo Holdings Limited to enter the Asian market, starting with Hong Kong and Southeast Asia. The company plans to expand into India and Japan through eCommerce platforms like Flipkart and Rakuten in 2022. This partnership is pivotal to Love Hemp’s global growth strategy as the CBD market is projected to exceed USD20 billion by 2024, with Asia playing a significant role in this expansion.

Positive

• Partnership with eCargo expands market reach into Asia.
• Projected growth of the global CBD market to exceed USD20 billion by 2024.
• Plans to penetrate multiple Asian markets, enhancing potential revenue streams.

Negative

• None.

LONDON, UK / ACCESSWIRE / September 7, 2021 / Love Hemp Group PLC (AQSE:LIFE)(OTCQB:WRHLF), one of the UK's leading CBD and hemp product suppliers, is pleased to announce it has signed a distribution partnership for Asia with eCargo Holdings Limited ("eCargo").

Love Hemp's initial launch into the region will be anchored around both online and offline presences in Hong Kong and South East Asia retail channels, before expanding into India and Japan later, through strategic partnerships with eCommerce marketplaces such as Flipkart and Rakuten in 2022.

Tony Calamita, Chief Executive Officer of Love Hemp Group commented: "This partnership is a significant step forward in our global growth strategy. The global CBD market is forecast to exceed USD20 billion by 2024, a 614% increase from today's valuation, with Asia representing a sizeable part of this market as regulations continue to adapt. Working with eCargo, an established eCommerce and offline sales enabler, allows us to effectively penetrate these Asian markets and quickly position Love Hemp as a trusted, high-quality brand, as it is known in the UK."

Lawrence Lun, Chief Executive Officer of eCargo Holdings Limited commented on the partnership, saying: "I'm glad to welcome Love Hemp Group into our brand portfolio and assist them on the next step of their global growth by leveraging our Asia Pacific network. Love Hemp's brand reputation and product quality speaks for itself, and we look forward to a long and successful working relationship helping them expand throughout Asian markets."

About eCargo Holdings Limited

eCargo Holdings Limited is an ASX-listed company offering end-to-end, digital solutions that connects global brands with Chinese buyers and provide the tools businesses need to grow their export business. Founded in 2014, eCargo's range of services has grown to cover the full value supply chain, and it combines these capabilities with technology expertise to build integrated sales platforms and management systems that help streamline international suppliers' export business. eCargo's capabilities include shipping and customs clearance, warehousing, logistics, B2B distribution and trading, China B2C eCommerce activation and digital marketing.

For further information please visit: www.lovehempgroup.com or contact:

Love Hemp Group Andrew Male Chairman & Director Anna Legge Chief Communications Officer	+44 (0) 7926 397 675 andrew@lovehempgroup.com +44 (0) 7500 773 415 Anna.legge@lovehempgroup.com
Financial Advisor Rupert Fane H&P Advisory Limited	+44 (0) 20 7907 8500 rf@hannam.partners
AQSE Corporate Advisor Mark Anwyl Peterhouse Capital Limited	+44 (0) 20 7469 0930 ma@peterhousecap.com
Financial PR Tim Blythe/Alice McLaren/Madeleine Gordon-Foxwell Blytheweigh	+44 (0) 207 138 3204 lovehemp@blytheweigh.com

About Love Hemp Group

Love Hemp Group is one of the UK's leading CBD and Hemp product suppliers. The Company is a pioneer in the UK-based premium high-quality CBD market, with over 40 products including oils, edibles, sprays, cosmetics, topicals and vapes. The Company's range of products are sold online across 70 websites and in over 2,000 stores including some of the biggest retailers in the UK, such as Holland & Barrett, Boots and Ocado. Listed on the Aquis Stock Exchange (AQSE: LIFE) the Company recently changed its name to Love Hemp Group plc, from World High Life, to better reflect its focus on supporting the "best in class" CBD brand as it embarks on a wider expansion of its core business and offering.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE; Love Hemp Group

View source version on accesswire.com:
https://www.accesswire.com/662922/Love-Hemp-Group-PLC-Announces-Asia-Distribution-Partnership-with-eCargo

FAQ

What is the significance of Love Hemp Group's partnership with eCargo?

The partnership enhances Love Hemp's entry into the Asian market, facilitating expansion through established channels and increasing brand recognition.

Which Asian markets is Love Hemp Group targeting?

Initially, Love Hemp will focus on Hong Kong and Southeast Asia, with plans to expand into India and Japan in 2022.

What is the expected growth of the global CBD market?

The global CBD market is forecast to exceed USD20 billion by 2024, marking a significant growth opportunity.

How will Love Hemp Group establish its presence in Asia?

Love Hemp aims to establish both online and offline retail presences, leveraging strategic partnerships with eCommerce marketplaces.

What is the stock symbol for Love Hemp Group?

The stock symbol for Love Hemp Group is WRHLF on the OTCQB market.