Flora Growth Corp. (NASDAQ:FLGC) has signed a distribution agreement with Israel-based, DNO Group, to distribute the Mind Naturals brand in the Hong Kong region. DNO Group is a leading distributor of global independent brands and has over 50,000 points of sale throughout Asia in addition to its broader global reach.
Through this agreement, Flora will work with DNO to identify growth opportunities and bring the Mind Naturals brand to market in new territories using an omnichannel approach including brick and mortar retail, e-commerce, and other wholesale markets. The initial focus will be on Hong Kong and is expected to be followed by a second phase expanding to India and Israel.
“We are excited to see the continued expansion of Mind Naturals into new international markets, especially those with a high demand for skincare products,” stated Flora Growth CEO, Luis Merchan. “With quality ingredients and a thoughtful customer experience, Mind offers something different in this competitive space. We look forward to working with DNO to bring this unique offering to key markets around the world.”
This announcement is one of a series of new agreements signed with international distributors. Earlier this year, Flora announced Mind Naturals launch through Walmart's (NYSE:WMT) Walmart.com and Coppel, a nationwide department store in Mexico. The launch includes 12 products initially offered on e-commerce with subsequent plans to sell in brick and mortar retail locations. Mind Naturals has also completed initial exports to Spain.
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