In order to understand CW Hemp, we begin with Dr. Sanjay Gupta profiling of Charlotte Figi and the Stanley Brothers in CNN’s landmark documentary “Weed” and CBDs launched into mainstream consciousness. Before Weed, few were familiar with Cannabidiol and what it can do for children with epilepsy. Figi, now 9, was suffering from hundreds of seizures each day and her parents turned to the Stanley Brothers who had developed a high-CBD extract, now known as Charlotte’s Web.
After being catapulted into global fame, the company, then known as CW Botanicals, began to ship products commercially in 2014. At the time the company says it had a waiting list of more than 10K customers wanting their product but could not deliver given lag time in their cultivation and manufacturing operations.
The Stanley Brothers are now targeting a much broader market, the health and wellness market, and have rebranded as CW Hemp. The company’s offerings include three product lines based on concentration, each offering two sizes and the option of either mint chocolate or olive oil flavor.
This story appears in “The CBD Report” from the Hemp Business Journal. Download the first 5 pages of the market making, channel defining “CBD Report.”
Between 600 and 1,000 units of CW’s product ship from CW Hemp each month, all of which is extracted from Charlotte’s Web. The company reports its waiting list is “gone” and has a customer base totaling more than 20K who purchase product on an average of four times a year. Though revenues were not disclosed, CW Hemp reportedly ships more than $1mm in product each month.
CW Hemp operates from an 18,000-square-foot lab, warehouse and office space in Boulder, Colorado, and is vertically integrated, growing its own hemp in Colorado on approximately 50 acres with 150K plants. CW Hemp has hired a veteran executive team to lead the company into broader retail distribution and expansion.
The company markets itself as a social venture and donates a portion of proceeds to the Realm of Caring, a nonprofit organization started by the Stanley Brothers, Paige Figi and Heather Jackson, based in Colorado Springs with a staff of 15. The organization researches, educates and advocates for cannabis therapy. Mary’s Nutritionals and Elixinol also support of the Realm of Caring, and Elixinol recently announced it was the first company to receive the Realm of Caring seal of approval and will be included on their label beginning October 1, 2016. The quality standards and requirements to receive the Real of Caring seal have not been disclosed.
Joel Stanley, the CW Hemp’s CEO, says the mission of CW is “empowering a better quality of life.”
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