ENDEXX (OTCMKTS:EDXC) reported revenues of $1.3 million (an increase of 91%) in Q2 2020. It is on the backdrop of improved sales of cannabidiol products, mainly Premium Blue topical and improved sales activity in e-commerce and wholesale channels. Premium CBD products are available at 6,000 retail stores across the nation.
Flexible e-commerce platform
Endexx, which has business as CBD Unlimited, introduced an e-commerce platform that allows customers to control their subscription models. The customers can either delay or extend the subscription when reordering. CBD Unlimited customers are flexible in experimenting with products and dosages. The customers can know more about the best product dosage suitable for them and choose the wellness products for ordering. They can also order online and choose a pick up from their nearest location.
Expands store count in Q2
CBD Unlimited increased the number of stores in Q2 to provide super-premium and premium products. Its R&D team is undertaking initial testing of forthcoming Trail-R-Mix equine products, which will be introduced towards the end of this year. The company expects to expand the store count over the long term to more than 100,000. As part of its strategy to promote growth across the world, the company signed accords with distribution partners in the Caribbean, North America, and the Polynesian markets.
Purchases Retail Pro Associates
CBD Unlimited has taken over Retail Pro Associates Inc (RPA) in May 2020. The acquisition allows the company to focus on the distribution and sales of good quality supplements for the animals. It expects to strengthen and grow its Pet and Equine product lines by adding a management team with expertise in the Pet and CPG industry.
CBD Unlimited selected RPA considering the knowledge of the management team in health and total wellness products. Vice President (Marketing and Sales) of RPA, Stephen Herron, will play a vital role in promoting Equine and Pet divisions of CBD Unlimited.
Herron will share his experience in drug, food, and mass retail channels to guide the team at RPA. CEO and Chairman of CBD Unlimited, Todd Davis, will lead the management to promote growth.
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