Benzinga | Jan 4, 2022 07:05AM EST

Flora Growth Expands Product Distribution Through Walmart.com and Coppel in Mexico

Flora Growth Corp. (NASDAQ:FLGC) ("Flora" or the "Company"), a leading all-outdoor cultivator and manufacturer of global cannabis products, announced today that its Mind Naturals skincare brand has launched sales through Walmart.com and Coppel, a nationwide department store in Mexico. The launch includes 12 products from the Mind Naturals portfolio, initially on e-commerce with subsequent plans to sell in brick and mortar retail locations.

This launch expands upon last month's initial orders for Mind Naturals to Mexico and Spain. Walmart is one of the leading retail chains in Central America, while Coppel has 1,253 stores in Mexico. It is estimated that the global market for cannabis and its derivatives will generate sales of 102 billion dollars by 2026, and Mexico is expected to be one of the countries with the highest commercialization of CBD products.

Flora Beauty's Mind Naturals is an inclusive brand that uses premium CBD and quality, clean ingredients to create their product line. They were named a trendsetting brand at CosmoProf North America in 2021 for their innovation in sustainable packaging. In December, they were a top 12 finalist in Glosswire's Global Pitch Competition, which includes beauty brands from across the globe.

"We are excited to begin bringing high-quality, sustainable CBD skincare products to Mexico," said Luis Merchan, CEO of Flora Growth Corp. "This agreement represents our first foray into the Mexican market and furthers our global foothold as a leader in plant-based wellness and lifestyle brands. As the cannabis market continues its rapid expansion across the globe and into various sectors, we are poised to meet the needs of the market at every touch point."