Over the past year, Thoughtful Brands has made great strides in its effort to become the leading eCommerce CBD brand. The company recently came under the control of a new CEO, Ryan Hoggan, who has been pressing for positive changes since day one. Read on to find out what those changes look like.
Thoughtful Brands has been partnering with additional CBD companies across the globe to create an accessible network for consumers. It recently partnered with Franchise Cannabis Corp to sell hemp-based products, including both CBD and cosmetics, in the EU and UK.
The new partnership between Thoughtful Brands and Franchise Cannabis Corp has garnered a lot of attention in the industry, but it’s certainly not the only noteworthy expansion made by the company under Hoggan’s leadership. Thoughtful Brands now operates multiple other CBD companies, including Nature’s Exclusive, Satividia, and others.
Focus on Natural Medicines
Thoughtful Brands is still focused primarily on making CBD products more accessible to consumers across the world. However, the company has also been investing in other forms of natural medicine, including psychedelic medicine. The emerging field of psychedelic research and treatment shows a lot of promise, not just in the United States, but across the world.
Not too long ago, both CBD and psychedelics were almost universally illegal. Now, researchers are finding plenty of reasons to change those regulations. CBD has been legal for several years now, and the findings that psychedelic medicines may help in the treatment of mood, anxiety, and substance abuse disorders may wind up placing certain psychedelics in the same boat.
Through the acquisition of well-performing brands and the development of strategic partnerships at home and abroad, Thoughtful Brands has been able to expand its revenue and operations substantially in the past year. The company reported gross profits of $605,150 in the first quarter of 2020, which is quite a feat given the influence of the coronavirus pandemic. Stakeholders can expect this growth pattern to continue under Hoggan’s careful leadership.
The Future of Thoughtful Brands
The primary goal of Thoughtful Brands is to make CBD and other natural medicine products available to as many people as possible. The company is already well on its way to accomplishing this lofty goal, not just by expanding into new CBD markets as additional governments lift restrictions, but also by partnering with clinical researchers investigating psychedelic compounds.
As more modern governments see what a positive difference both CBD and psychedelics can make in their citizens’ lives, Thoughtful Brands can be expected to continue its current pattern of aggressive growth. Experts valued the global CBD market, alone, at $2.8 billion in 2020 and there is still plenty of room for improved market performance.
By creating strategic partnerships with psychedelic researchers and manufacturers, Thoughtful Brands also stands to become a leader in a completely new market. There are still regulatory hurdles that must be crossed, but the chances of governments lifting psychedelics bans raise every time a new research study comes out proving their efficacy and safety.
The Bottom Line