During an online investor meeting this week, the Canadian cannabis company said it will launch a number of Stewart-branded CBD edibles and pet products across America this fall.
Canopy forecasts that the U.S. CBD market will hit $10 billion by 2023, up six-fold from today, and it plans to bank on Stewart’s household name to gain market share.
The company already sells CBD drinks and topicals stateside under three separate brands — This Works, First & Free and BioSteel — and plans to have 40 products launched in total by the end of this year.
Stewart, 78, joined forces with Canopy as an advisor in early 2019 to develop a broad range of CBD products using her 30,000 recipes published in Martha Stewart Living magazine.
Canopy expects big results as her publication boasts over 7.3 million readers who are 91 per cent female with a median household income of US$82,175, according to media researchers at Meredith.