CBD Products Will Roll Out to Asian American Trade Associations Council Retailer Network
TEMPE, Ariz. — The Asian American Trade Associations Council (AATAC) retail networks will roll out cannabidiol (CBD) product lines through a multimillion-dollar partnership with Harvest Health & Recreation Inc. (Harvest).
Harvest, a vertically-integrated cannabis company with one of the largest footprints in the U.S., will bring its popular Colors, CBx Essentials and Harvest-branded CBD product lines to more than 10,000 retail stores, including convenience stores and gas stations nationwide.
"While many CBD product companies currently experience an artificially high premium as early adopters flood the market, we realized that only true quality brands like Harvest's COLORS and CBx brands, which have a long and established pedigree will be around after the first wave," said AATAC Board of Directors Trustee Paul Rock. "Massive categories like energy products were built primarily in our retail channel and we expect Harvest's line of CBD products to be no different."
AATAC is one of the largest trade associations for independent c-stores and gas stations in the country, with 50,000 primary and affiliate members and a reach of almost 90,000 locations that control more than 60 percent of the market. AATAC's primary and affiliate members operate many franchises of the most popular branded retailers such as: 7-Eleven, Circle K, Sunoco, Chevron, 76, BP, Arco, ampm, Kangaroo, Shell and Marathon among others.
The partnership will include extensive training for store clerks and associates, an educational campaign about CBD and other cannabinoids and in-store dedicated shelf space and marketing promotions.
"This exclusive partnership enables a massive advance in distribution for Harvest-owned CBD brands and follows our strategic path of expanding the scale of our wholesale and retail distribution nationally," said Harvest Chairman Jason Vedadi. "Demand for CBD is unprecedented and by delivering leading products in 10,000 accessible locations gives us an unparalleled reach to consumers."
Harvest's line of products is expected to begin arriving in stores across the country this summer and may expand to 30,000 locations by the end of the year.
AATAC estimates c-stores and gas stations will account for $8 billion to $10 billion of what The Brightfield Group expects to be a $22 billion CBD market in three years.