Orchid Essentials Cannabis Brand Experiences Strong Growth in California
Wednesday, April 24, 2019 9:00 AM
Award-Winning Brand Launched Into 60 Stores In First 3 Months of Expansion, and 13 Accounts in the Last Two Weeks
COSTA MESA, CA / ACCESSWIRE / April 24, 2019 / California cannabis brand Orchid Essentials (CNSX: ORCD), which launched in California in mid-January, 2019 has experienced rapid growth within the state and market response to their lineup of high-quality vape products has been strong. Within three months of its initial launch, Orchid has landed on shelves in 60 new retail locations including Urban Pharm, The Leaf El Paseo, and One Love Beach Club to name a few. Orchid has landed 13 new retail accounts in the last two weeks alone, setting a very healthy pace for its retail expansion. Not only has the Company seen week-over-week growth and consistent re-orders with the new accounts, but it is also expanding its events and marketing team, increasing the amount of in-store events and retail touchpoints.
Co-founded and managed by Corey Mangold and Rene Suarez, Orchid's mission is to create the highest standards in the cannabis industry and be committed to safety, efficacy, and quality. True to this mission, Orchid uses natural terpenes, and ensures that its materials are thoroughly screened for pesticides, solvents, heavy metals, and bacteria while also ensuring high-potency cannabinoid and terpene levels. Mr. Mangold is also the co-founder and Principal of Gigasavvy, a booming creative marketing agency, while Mr. Suarez is a former partner of Space Jam, one of the largest vaporized e-juice brands. Orchid's commitment to its mission of quality and safety combined with the stellar experience and a track record of its co-founders and the market response to its products poises the Company to be a leading national brand in the cannabis industry.
About the expansion in California, Mr. Mangold comments, "The expansion we're seeing in California has been eye-opening, but what has been most impressive is our sell-through rate at the retail level. According to managers/owners of some of our California retail accounts, we are in some cases the best selling vape cartridge and in some, the best-selling product across all categories. We expect this growth to continue as we ramp up our sales and in-store marketing efforts."
The fast-growing cannabis brand became one of the top-selling brands in the first quarter it entered the Oregon market, according to BDS analytics. The growth Orchid is seeing in California is yet another milestone for the brand that indicate that its goals of growing in California, just as it did in Oregon, are on track. After merging with Earny Resources, Ltd. in 2018 to go public in Canada, Orchid began trading on the Canadian Securities Exchange earlier this year as Orchid Ventures, Inc. under the ticker symbol ORCD.
About Orchid Essentials
Orchid Essentials is a Costa Mesa, CA-based brand that launched in Oregon and California in August 2017 and has since developed a mass-market brand and loyal consumer following with its premium vape products. Orchid's products lines are currently sold in 250+ dispensaries across California and Oregon and are handcrafted and designed for maximum flavor and overall enjoyment. The company's proven processes and passion for what it does carry through into its products. The end result is an unparalleled experience for new and practiced cannabis users alike. Orchid plans to expand its brand into new markets such as Nevada, New York, Puerto Rico, Canada, and other global markets. With a continued focus on brand and intellectual property development, Orchid will execute strategic acquisitions to solidify an integrated cannabis manufacturing and distribution infrastructure with the goal of becoming a dominant premium cannabis brand in the United States. Orchid's management brings significant branding, product development, manufacturing, and distribution experience with a proven track record of scaling revenues, building value generating partnerships, and creating enterprise value. Learn more at https://orchidessentials.com/.
On Behalf of the Board of Directors
CEO and Director
Safe Harbor Statement
Except for historical information contained herein, statements in this release may be forward-looking and made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Orchid Ventures, Inc. and Orchid Essentials (collectively, the "Company") or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in the Company's Canadian securities regulatory filings with sedar.com, Factors which could cause actual results to differ materially from these forward-looking statements include such factors as (i) the development and protection of our brands and other intellectual property, (ii) the need to raise capital to meet business requirements, (iii) significant fluctuations in marketing expenses, (iv) the ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of our products and services, (v) the Company's ability to conduct the business if there are changes in laws, regulations, or government policies related to cannabis, (vi) management's ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and (vii) other information that may be detailed from time to time in the Company's Canadian securities regulatory filings with sedar.com. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Orchid Essentials