Here is the CBD news roundup for July 16th.
Christian Book Distributors Rebrand after CBD Confusion
The company Christian Book Distributors recently changed their name to Christianbook amid confusion over the companies initials. The company, which used to operate under the domain cbd.com, didn’t even show up on front page search results for CBD. With the rise of the CBD industry in the past few years, Christianbook had reportedly been receiving calls and inquiries from customers looking for cannabidiol, rather than the Bibles and music books the company sells.
FDA Expedites Work on CBD
Dr. Amy Abernethy, Principal Deputy Commissioner, and acting CIO of the FDA recently announced on Twitter that the FDA is expediting their work on addressing CBD. This is excting news for hemp farmers and other stakeholders inn the hemp/CBD industry. The FDA is opening an open public docket for comments, and plans to report on their progress at the end of the summer/beginning of the fall.
CBD Invests in Soda
We constantly hear about soda/beverage companies investing in CBD. However, in a turn of events, the hemp portfolio/cannabis investment company Sol Global Investments increased their ownership stake to 25% in Jones Soda. Using the new investment money, Jones is reportedly working on creating a line of CBD-infused beverages.
American Eagle Plans to Sell CBD
Clothing retailer American Eagle Outfitters is reportedly getting into the CBD industry. Ohio-based Green Growth Brands announced that they’ve struck a deal with American Eagle to sell its products in nearly half of all their stores, which are expected to begin early October. This announcement marks Green Growth’s third major wholesale deal, the other two with Abercrombie & Fitch and DSW. Although consumer interest in CBD is booming, many other large retailers are choosing to stay on the sidelines until the FDA reaches a conclusion.