Introduction to Edibles.com
The parent company of Edible Arrangements is moving into a different kind of edible. Edible Brands is launching Edibles.com, an e-commerce marketplace for hemp products, like Cann drinks and Wana gummies.
Some key points about Edibles.com include:
- Edible Arrangements’ parent company will start selling hemp drinks and edibles and using its franchise network to deliver orders.
- The 2018 Farm Bill legalized hemp, which is legally defined as a plant that contains 0.3% or less tetrahydrocannabinol, better known as THC.
- Edibles.com is also planning to open brick-and-mortar locations.
Background on Hemp Legalization
The 2018 Farm Bill legalized hemp, which is legally defined as a plant that contains 0.3% or less tetrahydrocannabinol, or THC, the primary intoxicant in cannabis. The federal law paved the way for companies to sell products with THC derived from hemp rather than marijuana across most states, even if those areas haven’t legalized marijuana. A handful of states, like Connecticut, have placed restrictions on how much THC a hemp product can contain. But in much of the country, hemp legalization has led to a veritable Wild West.
Market Demand and Competition
"There’s a lot of demand for hemp products out there right now, but what people are looking for is that safe and trusted place to buy it," Edible Brands CEO Somia Farid Silber told CNBC. The website launches on Friday, starting with Texas. The company is planning to roll out the platform nationwide quickly, with Florida, Georgia and other Southeastern markets following soon after Texas. Edibles.com also has a lease for a brick-and-mortar location in Inman Park in Atlanta and plans to add physical locations in other states, as well.
Partnership and Expansion Plans
"This is a defining moment for the hemp industry," Cann CEO and co-founder Jake Bullock said in a statement. "A trusted, high-quality marketplace like Edibles.com has the power to reshape the future of THC products and drive the long-term industry growth we’ve all been working toward." As a private company, Edible Brands does not have to disclose its quarterly financial results. The business, best known for its fruit baskets inspired by floral bouquets, had nearly 800 locations as of the end of 2023.
Growing a New Business
History of Edibles.com
The idea to sell edibles has been percolating "for a while," according to Silber. A year ago, the company acquired the edibles.com domain name after settling a years-long lawsuit against World Media Group for "cybersquatting," or registering a well-known domain name in the hopes of reselling it for a profit. By July, Edible Brands hired cannabis executive Thomas Winstanley as executive vice president of Edibles.com. And in October, Silber took the reins as CEO after eight years at the company.
Product Selection and Compliance
"We positioned it as a way to be able to create that connection for people who may be looking for permission to try these things, who’ve been hearing about them," Winstanley said. "But it’s different when you walk in and see these products at a gas station, instead of seeing a collection of the nation’s leading products." For one, the dosage of Edibles.com’s offerings hover around five milligrams per serving, according to Winstanley. The dose is considered on the low end; Colorado, for example, caps edible cannabis products at 10 milligrams of THC per serving. Plus, when selecting its suppliers, the company stuck with companies that are well known in the hemp and cannabis industries in order to increase trust in the platform. Brands sold on Edibles.com include Cantrip, 1906, Cann and Wana.
Conclusion
Edibles.com is poised to become a major player in the hemp industry, with its trusted brand and extensive franchise network. With its focus on safety, compliance, and quality products, Edibles.com is likely to attract customers who are looking for a reliable source of hemp products. As the company expands its operations and product offerings, it will be interesting to see how it navigates the complex regulatory landscape of the hemp industry.
FAQs
- What is Edibles.com?
Edibles.com is an e-commerce marketplace for hemp products, launched by Edible Brands, the parent company of Edible Arrangements. - What types of products will Edibles.com sell?
Edibles.com will sell hemp drinks and edibles, including products from brands like Cann and Wana. - Is Edibles.com available nationwide?
Edibles.com will launch in Texas and expand to other states, including Florida and Georgia, in the coming months. - Can I buy Edibles.com products in physical stores?
Yes, Edibles.com plans to open brick-and-mortar locations in several states. - How does Edibles.com ensure compliance with regulations?
Edibles.com has done extensive compliance and background checks to ensure that its operators understand the requirements of delivering its edibles, and it only partners with well-known and trusted suppliers in the hemp and cannabis industries.
