Codebase Ventures investee World High Life sees record sales of its Love Hemp brand amid coronavirus pandemic

Love Hemp’s e-commerce sales have grown by 39% month-over-month since January as consumers flock to buy the brand online

Love Hemp is the best-selling CBD brand at UK distributor Alliance Healthcare

Codebase Ventures Inc (CSE:CODE) (OTCQB:BKLLF) said Friday its investee company World High Life Plc saw record sales from its hemp subsidiary during the coronavirus pandemic.

World High Life’s wholly owned subsidiary Love Hemp’s e-commerce sales have grown by 39% month-over-month since January as consumers flock to buy the brand online.

In response, Love Hemp’s leadership is building out its existing platforms to reach more customers directly and expanding its offerings through leading UK retailers.

READ: Codebase Ventures nabs oral mucosal drug delivery patent filing for hydroxychloroquine

The best-selling CBD brand at distributor Alliance Healthcare, Love Hemp is available in major retailers like Boots pharmacy, Ocado, Holland and Barrett and Sainsbury’s.

"There's no question that the challenges now facing businesses across the world are unique," said Tony Calamita, Love Hemp’s founder. "Whilst bricks and mortar stores have either closed or experienced less foot traffic and reduced hours, it has highlighted the need for us to have a robust online presence in order to keep people engaged with our brands and products."

The increased sales led Love Hemp’s team to fast track the launch of its Immune product in April, more than six months ahead of schedule.

READ: World High Life subsidiary Love Hemp taps UFC superstar Georges St-Pierre as brand ambassador

The brand is also looking to add new products to its portfolio through the UBDOilsUK website, with three new titles launching within the next two months along with an updated web presence. Its LH Botanicals line has increased its production capacity with the addition of new capsule and bath bomb machines.

"We have expanded our online offerings and are committed to continuing to provide the best experience for our customers, so they continue to purchase and engage with us in an efficient way, with minimal disruption,” Calamita said.

“Fortunately, consumer demand for our products is growing and we have adapted, thanks to a great team effort. To grow the business under new circumstances, we are expanding our e-commerce presence and education marketing, which will be the foundations of our model going forward."

Brooklyn-based Codebase Ventures is a tech-centric venture capital firm that invests in early-stage technology and cannabis companies.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas


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