CBD Company - Select CBD

 

Ranking and Market Share

#9 - 3.3% of overall market. 2019 sales: $80 million; 2018 sales: $32 million

Product Portfolio

Vapes, tinctures (oil), topicals, capsules, and pet

Distribution Channels

Dispensaries, mass pharmaceutical retail chains, natural food stores, online, convenience stores, gas stations

Positioning

Broad recognition and popularity established, especially in west coast recreational cannabis states, but also well-known outside cannabis channels. Tasty, clean lifestyle products, particularly vapes.

Strengths

Competitive Advantages

Leveraged position as largest cannabis vape company in California to expand effectively into CBD and grow quickly across the country; Relatively new entrant to CBD market, blowing up product portfolio and making its way onto mass retail shelves at an early juncture.

Core Competencies

Solid branding and product, strong reputation and established distribution channels have allowed Select to explode onto the CBD scene across the country

Making the most money on

Vapes, tinctures, capsules

Doing well

Branding is crisp and general, making it approachable and appealing; Strong point-of-sale displays; Rapid entry into mass retail channels

Opportunities

Beneficial trends

Product portfolio appeals to diverse retailers, from Select's bread-and-butter (dispensaries) to gas stations/convenience stores (for POS displays), to chained retailers and grocery stores – where topicals are growing

Niches competitors are missing

Strong presence and following in CBD space both in- and outside cannabis channels, particularly well-known and recognized for vape products; THC-free products appeal particularly well to mass retailers, conservative consumers

Additional growth opportunities

Recently bought out by Curaleaf, which will give the brand access to a broader array of cannabis retail channels (especially on East Coast), as well as additional capital to support marketing and growth efforts

Aspirations and Results

Who do they want to be?

Leader among both cannabis and mainstream wellness consumers, successfully offering quality, cleanly-branded, THC-free products by traversing mainstream and niche retail channels

Desire to be known for

Not only quality vapes, but deep variety of popular CBD products, including topicals and pet

Priorities

Continued rapid ramp-up of domestic retail outlets, especially big box pharmaceutical and grocery chains

Results/milestones aiming to achieve

Maintaining current customer base, especially with vape products, while expanding to broader consumer market with diversified menu and retail channels

Chief competitors

Green Roads, CBDfx, cbdMD

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