Love Hemp Group, a leading retailer of CBD products and beauty items, has seen significant improvements in its performance thanks to strategic restructuring and the support of a new management team. Despite these changes, Love Hemp has achieved an impressive increase in revenue for the fiscal year ending June 30, reaching £4.33 million compared to £2.69 million in the previous year. The company’s gross profit also rose to £1.25 million, surpassing the £0.96 million recorded the previous year. Love Hemp has managed to maintain a positive cash balance of £925,000, even after making substantial investments in marketing initiatives.

One of Love Hemp’s recent marketing campaigns, which focused on sports-related endorsements, has generated positive results. In November, the company experienced a 35% increase in orders from new customers, attributed to this marketing initiative. The campaign featured former world heavyweight boxing champion Anthony Joshua as its ambassador and included a major TV, print, and outdoor advertising campaign. Love Hemp also secured a multi-year exclusive licensing agreement with the Ultimate Fighting Championship body, enabling the development of a licensed range of UFC CBD products. In addition, the company entered into a sponsorship and influencer agreement with Kamaru Usman, the current UFC Welterweight Champion.

Love Hemp’s success extends beyond its marketing efforts. The company has seen increased orders from major UK retailers Boots and Holland & Barrett, resulting in a 65% increase in related revenues. Moreover, Love Hemp’s own online platform has also witnessed a significant increase in orders. In late November, the company’s week-long Black Friday promotions drove a 150% increase in monthly revenue compared to September 2021 and a 228% increase compared to October 2021.

To support its growth, Love Hemp has acquired new premises with the capacity to manufacture up to 500,000 units of CBD products per month. The company is also preparing for a move from the Aquis Stock Exchange to the London Stock Exchange’s main market, indicating its ambitions for expansion.

CEO Tony Calamita expressed his satisfaction with Love Hemp’s performance and emphasized the company’s focus on building brand visibility and loyalty in the emerging CBD wellness sector. The company plans to move away from regular discounting and implement new marketing initiatives in the coming year to drive value. Love Hemp has already observed the positive impact of this change during its Black Friday sale.

Overall, Love Hemp Group’s strong financial results and successful marketing initiatives highlight its ability to thrive in the highly competitive CBD products market. With strategic partnerships and expansion plans in place, the company is well-positioned for further growth and success in the future.

Useful Links:
1. Love Hemp Group Official Website
2. Ultimate Fighting Championship Official Website