The Australian company is now ready to enter the Italian cannabis market with a purchase order from H&H Group for 4 Swisse branded hemp seed
Medicinal cannabis, CBD and hemp healthcare products company, Bod Australia Limited ("Bod", or "the Company") (ASX: BDA) is pleased to report that it has received a binding purchase order from exclusive global partner, Health & Happiness Group Limited (HKSE: 1112, "H&H") valued at $1.0m (€620,000) for four Swisse Wellness branded hemp seed oil products for the Italian market.
The hemp seed oil products, which are in soft gel cap form, are designed to target specific need
states including sleep, energy levels, stress and general wellness.
Bod and H&H will launch the products in over 4,000 pharmacies across Italy, as well as through
Swisse's ecommerce channels. The launch will be complimented by Swisse branded marketing and
sales initiatives, as well as in store promotions and social media campaigns utilising high profile
The launch will mark the fourth major market that both parties have launched CBD and hemp
products. Products are currently being sold in Australia, the United Kingdom, and the Netherlands,
with entry into other European countries and the United States in the coming months.
The binding purchase order strengthens Bod's growing revenue profile. As per the Company's
exclusive licencing agreement with H&H, Bod will also receive a royalty on net product sales, as well a cost plus margin for the supply of its extracts and formulas, underpinning additional revenue
growth. Bod has now commenced manufacturing of the products and expects first deliveries to
retailers to occur in the coming months.
In addition, following a recent ruling by the Court of Justice of the European Union outlining that
CBD cannot be regarded as a narcotic, Bod will progress discussions to launch CBD products under the Swisse brand into a number of key European markets.
This binding purchase order for A$1.0m strengthens our growing revenue
profile and importantly unlocks another market where Bod can benefit from the sale of its products under a globally recognised wellness consumer brand.Bod Australia CEO, Jo Patterson.
"H&H have an established footprint in Italy, with a footprint of 4,000 pharmacies. Swisse Wellness is also regarded as a leading brand throughout Europe, which is a major advantage for Bod and we expect to benefit from in-country sales in the coming months. As more consumers connect with our trusted brands, we expect future purchase orders to increase in size and value. We will continue to work with H&H Group and Swisse to explore opportunities throughout Europe and North America for our CBD and hemp products, which we are confident will unlock further value for shareholders."
To learn more about BOD Australia visit the company HQ here.
Disclaimer: Past performance is not an indicator of future performance.
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