Page 61 - IAADFS 2022 hi-res

INSIDER

Leading CBD markets
CBD has really taken off in Puerto Rico, the Virgin Islands,
and Bermuda, says Jarrell.
“Puerto Rico is our biggest success. It is our biggest market
and the most mature when it comes to the CBD category. It will
also be our biggest Wellness market. We have aimed our resources
there. We have employees living on the island and are very tied
into the dispensary community, the pharmacy community, and the
supermarket and convenience store channels.
The fact that Puerto Rico also follows U.S. Federal law,
along with the U.S. Virgin Islands, makes selling easier with fewer
hurdles to clear.
Jarrell says that he sees more opportunities for CBD in the
travel retail sector now as well.
“Restrictions are being relaxed right now. There are now
opportunities to do more activations and consumer engagement
in the stores in a domestic environment, onboard cruises, or in
airports. Some of the other markets that we are excited about this
year for CBD are led by Bermuda, Costa Rica, and Aruba.”

Wellness
In Wellness, BioSteel, WB Canna’s anchor brand in the
category, is doing exceptionally well onboard Norwegian Cruise
Lines, says Jarrell.
“Norwegian Cruise Lines was an early adopter of BioSteel,
and the success speaks to the shared values and belief in ‘better for
you’ brands — for consumers and for the environment,” he says.
“The incredible quality of the brand’s ingredients coupled
with zero sugar meets consumers new expectations for healthier
lifestyles, the eco-friendly packaging meets NCL’s and the
industry’s march toward sustainability and less single use plastics,
and the cultural phenomenon of BioSteel with its explosive growth
with associations with great sports individuals like Luka Doncic
and Patrick Mahomes, teams like the Miami Heat and Los Angeles
Lakers and national programs like the US Soccer Federation which
includes the U.S. Men’s, Women’s and all youth soccer.
“We expect to see other cruise lines and the travel retail
network across the Americas continue to adopt brands like
BioSteel throughout 2022.”
Jarrell says there are a lot fewer obstacles for its Wellness
brands in the Caribbean.
“We have been able to expand to many more markets where
CBD is not legal. We see focus this year in Puerto Rico, the
Dominican Republic, and larger population center markets,” he
says.
“While Biosteel is the cornerstone of our Wellness portfolio,
Dream Water is another interesting Wellness brand. We see
Wellness being a broad category that we can find the right brands
that consumers are looking for to enhance their mental and
physical well being.”

61 April 2022 Summit of the Americas