Green Growth Brands is hoping to bring traditional retailing methods to the cannabis industry. The theory is that if it worked well for these other brands, it’s bound to work for cannabis. The company is populated with retail leaders from the worlds of Victoria’s Secret owned by L Brands (LB) , DSW (DSW) and American Eagle Outfitters (AEO) .
CEO Peter Horvath held top executive positions at Victoria’s Secret, American Eagle Outfitters, DSW and Limited Brands. He believes that his experience with at the helm of shoe retailer DSW when it went public on the NYSE at $1.5 billion. Chief Marketing Officer Scott Razek lead creative teams and marketing efforts at Victoria’s Secret, Bath & Body Works, Limited Stores and American Eagle Outfitters.
All of the top executives, except for the chief financial officer, are men from these retail companies. No women are on the executive team.
The company recently raised $85 million, more than the planned raise of $55 million. The company is pursuing a reverse takeover of Xanthic Biopharma, which is listed on the Canadian Stock Exchange and is expected to begin trading by the end of the year.
Green Growth is creating a portfolio of brands. In the development stage are Camp — visualized as a wellness center/grow facility/shopping village and event center. Meri + Jayne are high-quality CBD and cannabis products targeting the millennial crowd. Green Lily is a women’s products line billed as “For Women, By Women,” although with no women in the C-suite, I’m not sure which women are creating this. Also being developed are 7th Sense CBD-infused beauty products.
Xanthia Biopharma was already a premium cannabinoid brand. It will continue to cultivate and process cannabis and cannabis-infused products. Last month, Xanthic completed the acquisition of Nevada Organic Remedies for $56 million. That was seen