Yield Growth Begins Expansion into China’s Billion Dollar Hemp Market
VANCOUVER, British Columbia, April 11, 2019 (GLOBE NEWSWIRE) -- The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF) (Frankfurt: YG3) enters agreement with consultant Pontier Services to set up Urban Juve hemp beauty products for sale through China’s most popular messaging app, WeChat, and to launch a marketing campaign with a pop-up kiosk to rotate through luxury shopping malls and other major locations in Hong Kong for three months beginning in June 2019.
According to New Frontier Data, Chinese hemp sales totaled $1.1 billion in 2017, approaching 1/3 of the $3.1 billion global market, with sales forecasted to grow to $1.5 billion (up 36%) by 2020.
The objectives of the pop-up kiosk campaign will be to introduce Urban Juve’s brand story, Ayurveda philosophy and proprietary hemp root oil ingredient skin care products to the Chinese audience through the WeChat platform and to drive sampling and sales transactions through the kiosks. The initial locations for the artificial intelligence enabled kiosk this summer will be 3 luxury shopping malls in Hong Kong, University of Science and Technology, Science Park and the Park Yoho residence clubhouse.
The use of pop-up kiosks in shopping malls to promote online sales is an innovative way to reach the modern consumer
says Penny Green, CEO of Yield Growth.
We are excited to launch Urban June’s hemp products in the fast growing Chinese market this summer through WeChat
Urban Juve will be the first Canadian brand to launch PopSquare AI-enabled pop-up kiosks in China. Through Pontier and PopSquare, Urban Juve will use big data, computer vision, sensor fusion and machine learning to deliver increased sales, deeper analytics and enhanced customer service.
Online retail sales in China totaled about $1.33 trillion in 2018, an increase of 23.90% compared with 2017, according to the National Bureau of Statistics of China. According to TechCrunch, WeChat has proven to be an effective channel for acquiring e-commerce users as the most popular multipurpose social, messaging and mobile payment app among Chinese consumers, with more than one billion monthly active users worldwide.
Yield Growth further announces it will not be proceeding with the previously announced agreement to purchase property in Chiliwack as its condition to closing on the purchase was not fully satisfied.
The Yield Growth Corp. intends to disrupt the wellness market, which is a $4.2 Trillion Global Economy according to the Global Wellness Institute, by connecting ancient healing with modern science and technology, and harnessing the power of hemp- and cannabis-infused products. It is a vertically integrated asset company with six wholly owned subsidiaries, Urban Juve, UJ Beverages, UJ Topicals dba Wright & Well, Yield Botanicals, Mad Wallaby Distribution and Thrive Activations. The Yield Growth management team has deep experience with global brands including Johnson & Johnson, Procter & Gamble, M·A·C Cosmetics, Skechers, Best Buy, Aritzia, Coca-Cola and Pepsi Corporation. Yield Growth serves mainstream luxury consumers who seek sophisticated wellness products. Its flagship consumer brand, Urban Juve, has proprietary, patent-pending extraction technology and formulas. Yield Growth is commercializing over 100 cannabis wellness and beauty products internationally and has multiple revenue streams including licensing, services and product sales.
Investor Relations Contacts:
Penny Green, President & CEO
Kristina Pillon, Investor Relations
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking information and statements (collectively, “forward looking statements”) under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, intellectual property protection, and sale of, and demand for, Urban Juve and UJ Topicals products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Yield Growth cautions readers not to place undue reliance on forward-looking statements provided by Yield Growth, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Yield Growth expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.