Cannabis: CBD products store to open at King of Prussia Mall

Source, Philadelphia Business Journal, Natalie Kostelni

Seventh Sense Botanical Therapy, which uses cannabidiol in lotions, body wash, lip balms and other products, is opening a store at the King of Prussia Mall.

The retailer will occupy a 200-square-foot kiosk near Nordstrom’s at the mall at 160 N. Gulph Road in King of Prussia. Its opening, scheduled for tomorrow, at the biggest mall in the United States underscores how mainstream CBD products and cannabis-related industry is becoming. Aside from Simon malls, CBD products are now sold at pharmacies, vitamin shops and other outlets.

Seventh Sense is a part of Green Growth Brands Inc., a Canadian company, that is trying to become a dominant player in cannabis retailing and CBD consumer products. Earlier this year, Green Growth announced it entered into an agreement with Simon Property Group (NYSE: SPG) to open a chain of CBD product shops at the mall owner’s 108 properties across the country.

Green Growth iwants to open up to 100 Seventh Sense locations by the end of June and more than 200 by the end of the year. The first opened in March at Castleton Square Mall in Indianapolis, Ind., where Simon is headquartered, and King of Prussia is its 15th location. It also has an arrangement to sell products at DSW stores.

The company will see how receptive shoppers are to its kiosk location before looking to open more traditional stores beyond the kiosk, said Julia Fulton, Green Growth spokeswoman. “We want to get these shops up and running and see what consumers want,” she said.

Aside from its Seventh Sense skin care, Green Growth has other medical and retail marijuana brands including Camp, Meri & Jayne, Green Lily and other businesses related to the emerging cannabis industry.

In addition to expanding at Simon’s properties, the arrangement with the mall operator also entered into a consulting agreement with Simon issued to Simon Canada shares in Green Growth valued at $2.2 million and 1 million common share warrants of GGB with an exercise price of $4.47.  The King of Prussia store is scheduled to open April 25.