LOVE Hemp Group PLC (AQSE: LIFE) (OTCQB: WRHLF), one of the UK’s leading CBD and hemp product suppliers, is pleased to announce it has signed a distribution partnership for Asia with eCargo Holdings Limited (“eCargo”).
Love Hemp’s initial launch into the region will be anchored around both online and offline presences in Hong Kong and South East Asia retail channels, before expanding into India and Japan later, through strategic partnerships with eCommerce marketplaces such as Flipkart and Rakuten in 2022.
Tony Calamita, Chief Executive Officer of Love Hemp Group commented: “This partnership is a significant step forward in our global growth strategy. The global CBD market is forecast to exceed USD20 billion by 2024, a 614% increase from today’s valuation, with Asia representing a sizeable part of this market as regulations continue to adapt. Working with eCargo, an established eCommerce and offline sales enabler, allows us to effectively penetrate these Asian markets and quickly position Love Hemp as a trusted, high-quality brand, as it is known in the UK.”
Lawrence Lun, Chief Executive Officer of eCargo Holdings Limited commented on the partnership, saying: “I’m glad to welcome Love Hemp Group into our brand portfolio and assist them on the next step of their global growth by leveraging our Asia Pacific network. Love Hemp’s brand reputation and product quality speaks for itself, and we look forward to a long and successful working relationship helping them expand throughout Asian markets.”
About eCargo Holdings Limited
eCargo Holdings Limited is an ASX-listed company offering end-to-end, digital solutions that connects global brands with Chinese buyers and provide the tools businesses need to grow their export business. Founded in 2014, eCargo’s range of services has grown to cover the full value supply chain, and it combines these capabilities with technology expertise to build integrated sales platforms and management systems that help streamline international suppliers’ export business. eCargo’s capabilities include shipping and customs clearance, warehousing, logistics, B2B distribution and trading, China B2C eCommerce activation and digital marketing.