Diversified luxury consumer products company focusing on business in health, beauty as well as biotech sectors, American Premium Water (OTCMKTS:HIPH), announced an agreement on August 5,2021with stealth packaging and fulfillment startup to be the firm’s west coast operations center.
Based in Los Angeles, the firm’s strategic partner is in the US’ mature cannabis market, giving the company an important foothold for launching CaliBearCBD products to distributors as well as retailers across California and the southwest United States.
Ryan Fishoff, CEO of American Premium Water, said that the agreement will be a significant strategic asset allowing the company to gain a large presence in California, complimenting infrastructure that management has done on the east coast with its distribution partner in New Jersey/ New York, Just Logistics.
A strategic market for the firm, Southern California is vital as the management is in discussions with many distributors and retailers allowing it to have extended reach in a cost-effective manner. Fishoff said that the firm will now create two fulfillment as well as distribution centers reducing costs, expediting deliveries as well as augmenting efficiencies, resulting in lowering overall COGS.
Politico report suggests that the cannabis beverage sales in the country will touch $421 million this year, double of 2019, and will further reach $1 billion by 2025.
The CEO further said that the logistics and infrastructure relationships are vital for establishing distribution and sales relationships. CaliBear has ability to scale up and supply chains are essential for the same.