Multi-state cannabis operator Curaleaf is leaning further into hemp by changing one of its existing dispensaries into its first dedicated storefront for Farm Bill-compliant products.
The Hemp Company by Curaleaf is opening this week in West Palm Beach, Florida. The store will focus on Curaleaf's hemp-derived THC products including Select Zero Proof Seltzer, the new Select FormulaX energy drink and Select gummies. It will also carry third-party partner brands including 1906, Artet, BRĒZ, Cann, Foria, Kiva, Kanha, Keef, MXXN, Old Pal, Papa & Barkley, Sprinkle, VetCBD, Wyld, and Wynk.
"This location is the first regulated and licensed dispensary on record to transition into a hemp-only store, and we are eager to apply the expertise that has driven the success of our cannabis retail network to adults seeking access to hemp-derived THC products," said CEO Boris Jordan.
Like many of its U.S. competitors including Trulieve, Curaleaf has been making investments in hemp-derived THC products. During his company's most recent earnings call, Jordan admitted there’s still significant risk involved with that market since the Farm Bill, which allows for the sale of hemp with less than 0.3% THC, was only extended by one year.
“We’re taking a cautiously optimistic view right now,” he said. “The good piece of news is that, at the moment, I think the beverage side of the hemp bill looks as though it will likely be OK, largely because there’s a tremendous amount of players and there’s a lot of vested interest and lobbying on that side of it.”
