World High Life PLC Announces Love Hemp Reports 57% Growth in July 2020
World High Life Plc (OTCQB: WRHLF) announces a significant milestone for its subsidiary, Love Hemp Limited, reporting a 57% increase in sales for July 2020 compared to June 2020. This rise, attributed to heightened consumer demand for CBD products during the pandemic, emphasizes the brand's effective strategy in destigmatizing CBD use in the UK. Online sales surged to 62% of total sales, up from 40% in January, indicating a robust eCommerce presence. The CEO indicated a bright outlook as physical retail sales improve alongside online growth.
- 57% increase in sales in July 2020 compared to June 2020.
- Online sales accounted for 62% of total sales in July 2020, up from 40% in January 2020.
- None.
LONDON, UK / ACCESSWIRE / August 19, 2020 / World High Life Plc (AQSE:LIFE)(OTCQB:WRHLF) is pleased to announce that its wholly owned subsidiary, London-based CBD brand, Love Hemp Limited ("Love Hemp") reports a
"The wellness industry isn't showing any signs of slowing down. What we have witnessed is an increased consumption of CBD during the pandemic, and we expect this to continue post-Covid. We believe that people who continue to feel anxious or have trouble sleeping and are increasingly turning to more natural health and wellness solutions to add to their self-care routines," says Tony Calamita, CEO at Love Hemp.
Love Hemp Growth Highlights
57% increase in sales in July 2020 across online, retail and wholesale compared to June 2020- Online sales remain significantly higher than pre-Covid levels, with this channel making up
62% of sales in July 2020 compared with40% of sales in January 2020 - Continued growth highlights the success of the brand strategy, with Love Hemp focused on building an accessible and supportive brand that is destigmatising CBD consumption while demystifying CBD in the UK
"As the government takes steps to stimulate the economy and lift consumer sentiment, we are seeing a welcome boost for physical store sales. At the same time, our online sales remain well above pre-pandemic levels, cementing the importance of our eCommerce strategy in underpinning brand experience," adds Mr. Calamita.
For further information please contact:
David Stadnyk | |
AQSE Corporate Adviser | Financial PR |
For more information on World High Life please visit: www.worldhighlife.uk
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
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SOURCE: World High Life PLC
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