1933 Industries’ Infused MFG Reaches 80x Growth Milestone
1933 Industries Inc.’s subsidiary, Infused MFG, hit a record year of growth and continues to expand sales of its products in Nevada, California and Colorado.
Increasing demand for Infused’s Canna Hemp proprietary line of hemp-based, cannabidiol-infused products contributed to the strong revenue growth, which has increased from revenue of $7,403 (U.S.) in June of 2017 to over $600,000 (U.S.) per month in just 14 months. This represents an 8,000-per-cent increase and supports the company’s projections for the upcoming year, where Infused is forecasted to reach an average of $1-million (U.S.) in revenue per month.
With a strong presence throughout the state of Nevada, Infused has established key distribution networks in California, where it now sells its products in over 100 retail shops. In total, Infused boasts over 400 retail locations around the United States, with an average of 50 new wholesale accounts added every month. The company entered the Colorado market last week with the launch of its Canna Fused CBD/tetrahydrocannabinol line, in partnership with Denver Dab Co. (Oct. 5, 2018, news release). Canna Hemp products could be available in over 100 stores throughout Colorado in the near future. Further expansion targets include Oregon, Arizona and Canada, where the latter could open distribution channels into the European markets.
“We are pleased to be able to achieve an 80-times milestone over the past year. We have succeeded in building a business with a strong brand and product line that resonates with many customers seeking the benefits of CBD and hemp,” said Chris Rebentisch, U.S. chief of operations and founder of Infused. “We would not have been able to achieve this rapid growth without the capital, resources and expertise from our parent company, 1933 Industries,” remarked Mr. Rebentisch.
Brayden Sutton, president and chief executive officer of the company, said: “Our focus has been on producing high-quality products infused with hemp/CBD, with over 80 SKUs and more in the pipeline under the Canna Hemp and Canna Fused brands. We see the CBD market as a key component to our business and a high-growth vertical. We are actively looking for partners in each state to replicate the successful business model.”
About 1933 Industries Inc.
1933 Industries is a vertically integrated cannabis company with operations in the United States and Canada. Operating through three subsidiary companies, 1933 Industries owns licensed medical and adult-use cannabis cultivation and production assets, proprietary hemp-based, cannabidiol-infused products, CBD extraction services, and a specialized cannabis advisory firm supporting clients in security, intelligence and due diligence.
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