Love Hemp to trial selling CBD-based goods on Deliveroo

CBD business Love Hemp has announced it will sell its merchandise through Deliveroo on a trial basis.

To begin with, only customers residing within a six-kilometre radius of the firm’s Croydon factory will be able to purchase its range of oils, edibles and skincare goods via the delivery platform.

Should the trial be successfully, however, all of Deliveroo’s users across the United Kingdom will be able to purchase Love Hemp products sometime in 2022.

Start up: To begin with, only Deliveroo customers residing within a six-kilometre radius of Love Hemp’s Croydon factory will be able to purchase its range of oils, edibles and skincare goods

CBD, which stands for cannabidiol, is a prominent ingredient in cannabis that can be used to treat a range of medical conditions such as social anxiety, insomnia, and post-traumatic stress disorder.

Its popularity has surged over the last few years as progressively more countries have liberalised the laws on selling and consuming cannabis-based merchandise, ranging from coffee and tea to tampons and scented candles.

Love Hemp has benefited heavily from this boom, with the firm’s results for the year to 30 June showing sales climbed 40 per cent to £4.3million as third-party retail sales jumping by over 230 per cent.

Major retailers offering its CBD goods include Boots, Holland & Barrett and online behemoth Amazon, as well as supermarkets Waitrose and Sainsbury’s.

The Love Hemp brand is also available on the online mental health service Togetherall, which agreed to its first-ever consumer tie-up with the group in May, and is an official global partner of the Ultimate Fighting Championship (UFC).

And just last week, it agreed a three-year collaboration with two-time former unified world heavyweight champion Anthony Joshua, who is a shareholder in the company and is set to collaborate on a range of CBD products aimed at athletes.

This growth has led Bank of America Merrill Lynch to estimate that the worldwide CBD consumer market could be worth as much as $39billion in 2032.

Love Hemp’s chief executive and co-founder Tony Calamitta said the deal with Deliveroo does not just offer ‘greater visibility with consumers, but it also provides us with a new dimension to our consumer access – on-demand delivery’.

He added: ‘Deliveroo has over 7 million pre-registered consumers across the UK who are increasingly looking to the app to fulfil their day-to-day needs, of which high-quality CBD products are now one. Our ambition is to launch nationwide and utilise Deliveroo as a major distribution channel for Love Hemp.’

Better known as a food delivery platform, Deliveroo has gradually branched out to delivering other consumer products in recent times and has been offering CBD-infused oils manufactured by online retailer Trip since spring last year.  

This post first appeared on Dailymail.co.uk