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“) has experienced a surge in online sales during the global COVID-19 pandemic.
Love Hemp’s management team has been highly responsive to customer needs and the rapidly changing business environment due to COVID-19. The effort to build greater awareness and capacity online to drive sales has resulted in continued sales increases throughout the period, culminating to date with May’s online sales achieving a 107% increase over January’s online sales.
“The COVID-19 pandemic is profoundly affecting consumer markets and is accelerating existing trends within the consumer sector. Since the pandemic began, we have seen a shift in retail, with the pandemic accelerating e-commerce market penetration as consumer demands shift to ordering online in order to have what they need delivered,” says Tony Calamita, CEO at Love Hemp.
Love Hemp Highlights
- 107% increase in online sales May 2020 over January 2020
- Strong sales growth reflects continued brand appeal and ongoing product innovation
- It highlights the success of the brand strategy, with Love Hemp focused on building an accessible and supportive brand that is destigmatising usage whilst demystifying CBD in the UK by educating consumers
- The brand strategy moving forward also includes a re-brand due to launch in September 2020, in addition to building awareness and educating consumers through the use of ambassadors across the sports, cosmetics, food, professional and family sectors
- Digital and e-commerce activity underpins brand experience, drives awareness and traffic, grows the consumer base whilst maintaining brand loyalty amongst consumers
“This was an incredibly strong period of sales for Love Hemp. Whilst our strong growth usually comes from a wider variety of sales channels, given the current challenging business circumstances, our shift to the expansion of our e-commerce offering has enabled us to ensure our customers are able to continue to purchase and engage with us. We are focused on building trust and credibility with our consumer base and continue to innovate whilst responding to evolving consumer demands,” adds Mr. Calamita.
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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.
Cautionary Note Regarding Forward Looking Information
We seek safe harbour. Some statements contained in this news release are “forward looking information” within the meaning of securities laws. Forward looking information include, but are not limited to, statements regarding the use of proceeds of the non-brokered private placement and payment of the debt settlements. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual results to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management’s current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. We do not undertake to update any estimate at any particular time or in response to any particular event, except as required by law.
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SOURCE: World High Life PLC
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World High Life Plc
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