Urban Juve Provision is part of the Canada-based Yield Growth group, which promotes hemp and cannabis-based cosmetic and personal care lines, and the agreement with OMG3 is part of the business’s aims to expand the brands in the Americas and worldwide.
OMG3 says it plans to first distribute Urban Juve products throughout Colombia, and the first products to be introduced will be the face moisturizer, body oil and the signature anti-aging serum.
Starting distribution in Colombia
The agreement is a 10-year distribution agreement means the products will be available in more than 9.000 points of sale throughout Colombia.
Building on that, the agreement can also be rolled out and extended to reach a further 44,000 retail locations in other countries throughout South America, including Brazil, Costa Rica, Panama, Argentina, El Salvador, Guatemala, Chile, Uruguay, Ecuador and Peru.
The two companies say that the aim is to expand their distribution agreements to cover the retail locations in these other countries, too.
Targeting growth in the LATAM region
Yield Growth is targeting strong projected expansion in the Latin American market for cosmetics and personal care, which Goldstein Research estimates will see CAGR growth of 4.49% during the forecast period 2017 – 2025.
“We are very pleased to welcome Urban Juve to our distribution portfolio and exclusively distribute their products in South America. In addition to creating in-house and co-branded hemp seed and cannabis-based product lines, our strategy is to bring major international brands to the market in the areas of cosmetics, therapeutic and pharmaceutical products,” said Jorge Diaz, President & CEO of OMG3.
“We strongly believe that the Urban Juve products will be an excellent addition to the current retail offer, finding their way to customers across borders due to their natural formulas and benefits. Urban Juve products will be initially distributed in Colombia, and we look forward to working with their team on expanding the reach within our network throughout South America.”
Tying in with the hemp and CBD theme, don’t forget that Cosmetics Design is broadcasting a webinar panel discussion titled ‘How to tap into the CBD trend the right way’. For details about registration for this not-to-miss event, please click here.