Avicanna (TSX: AVCN) (OTCQX: AVCNF), a biopharmaceutical firm focused on the development and manufacturing of organic and sustainable plant-derived cannabinoid-based products, has announced that its Pura Earth derma-cosmetics line of CBD products are now available at more than 50 retail locations across Colombia.
The company’s Anti-Aging Treatment, Anti-Aging Serum, Clear Skin Treatment and Intensive Skin Conditioning Treatment, which are the first four of the nine Pura Earth product lines, are currently available at retail. Additionally, the Pura Earth line will be offered on e-commerce platforms, including Percos, Cormantic, and Blind, as well as Avicanna’s own platform.
The products are being sold at around 59 retail locations throughout Colombia, including Blind prestige beauty shops and Cromantic professional beauty markets, according to a company statement.
Colombian Market
Colombia is one of the top four cosmetics markets in Latin America showing a high growth rate in the cosmetics industry. The Latin America cosmetics industry is expanding and has placed itself as one of the fastest-growing and most vibrant cosmetic markets across the world. As per Goldstein Research, Latin America cosmetics market has reached a value of $31.98 billion in 2017 and is anticipated to grow at a CAGR of 4.49% during the forecast period 2017-2025.
The registration of the Pura Earth products as final products in Colombia will allow Avicanna to export these products into international markets. The company expects to launch the Pura Earth brand in additional global markets in early-2020.
Pura Earth Line
The Pura Earth products are produced using CBD isolate extracted by Avicanna’s majority-owned subsidiary Santa Marta Golden Hemp S.A.S. from cannabis grown and cultivated in Santa Marta, Colombia. SMGH’s CBD isolate is derived from its USDA organic certified hemp. Additionally, the Pura Earth products will be supported by clinical data from studies conducted by the Centro de Atención e Investigación Médica CAIMED S.A.S. in collaboration with Avicanna.
“The initial launch of Pura Earth in Colombia at these prestige beauty retailers is just the beginning of our global commercial strategy. Our vertically integrated operations have the scalability to support manufacturing a full range of premium CBD products and supply the global marketplace,” Avicanna CEO Aras Azadian stated.
