- PLUS is making strategic moves, having recently introduced the top two best-selling cannabis products in California across all categories into Nevada
- Plus Products is hyper-focused on building the world’s largest cannabis brand
- With 45 million visitors annually and sales numbers surpassing expectations, Nevada is an ideal next step for PLUS
Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF), a leading cannabis-branded product company with the top two best-selling cannabis products in California according to BDS Analytics, is moving into the growing Nevada market (http://ibn.fm/DHwq6). The company made the move by releasing its infused-gummies product line, which includes the two best-selling cannabis products in California across all categories, into the Silver State.
Hyper-focused on building a brand, Plus Products is meticulously working to grow the world’s largest cannabis brand. The company identified two key objectives in its strategic plan to accomplish this. First, PLUS dedicated itself to developing a winning brand in the largest legal cannabis market in the country, California.
The company did this through the release of two iconic products: PLUS Uplift, a sour-watermelon, cannabis-infused gummy that has become the best-selling cannabis product in California, and PLUS Unwind, the number two best-selling cannabis product in the California.
These aren’t the only accolades these products have garnered. BDS Analytics reports that PLUS Uplift was the best-selling consumable cannabis product across all tracked markets last year. In addition, PLUS Unwind was the second best-selling CBD-inclusive product in the state.
With the top-selling gummies brand in California and 21 percent of the gummies market share there in Q2 according to BDS Analytics, Plus Products is ready to move on to its next key objective: growing its brand through new markets, new products, and new consumers. The company is acting on this by moving into the Nevada market as well as launching into the national direct-to-consumer CBD space.
With an estimated 45 million visitors flocking to the Nevada every year and numbers surpassing retail sales expectations in its first year of adult-use sales, the entertainment capital of the country was an obvious choice for Plus Product’s next step. Legal, regulated cannabis product sales in Nevada could reach nearly $2 billion by 2025 (http://ibn.fm/W6kGZ), and the use of edible products in the state has continued to increase in popularity, growing from 14.5 percent of recreational sales beginning in Q3 2017 to 18 percent currently.
PLUS cannabis-infused gummies are currently available at three Medmen Las Vegas locations with plans to roll out the products to dispensaries across Nevada within the next few weeks. These products are manufactured through the company’s partnership with TapRoot Holdings Inc., which was announced four month ago. Based in Las Vegas, this vertically integrated cannabis company operates cultivation and manufacturing facilities and proved to be the perfect partner for PLUS by providing the facilities to easily and quickly deploy machinery, ingredients, and people to ensure that PLUS products maintain their consistently high-quality standards both in California and Nevada.
“Operating in Nevada only four months after signing a definitive agreement with TapRoot is a testament to our commitment to execution in building a national footprint,” Jake Heimark, co-founder and CEO of PLUS, stated in a news release. “We have created and commercialized the best-selling gummies brand in California. Now with this expansion, we aim to replicate this successful strategy in Nevada and ensure high-quality cannabis products reach more consumers in the U.S.”
In addition to its cannabis-infused edibles line, PLUS has also announced its line of 100 percent hemp CBD-infused gummies, which are available for purchase at plusproducts.com nationwide.
PLUS intends to expand into further jurisdictions outside of California and Nevada using a similar partnership model to ensure quality and consistency across all markets. Key focus markets for the company include Michigan, Arizona, Massachusetts, New York and Illinois, which combined represent a potential $5.45 billion-dollar market for PLUS. The company is also working on building its brand globally by exploring potential international partnerships.
For more information, visit the company’s website at www.PlusProducts.com
NOTE TO INVESTORS: The latest news and updates relating to PLPRF are available in the company’s newsroom at http://ibn.fm/PLPRF
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