Canopy Growth Corp. said Thursday it has named Martha Stewart as its official strategic adviser, building on her existing relationship with the Canadian cannabis company through her line of CBD-based wellness products. The household guru will advise the cmpany on branding, product innovation, format development and strategic partnerships, said Smiths Fall, Ontario-based Canopy. The company launched Stewart’s product line in fall of 2020, offering gummies, softgels, and oil drops with flavor profiles inspired by her most popular recipes. That line was followed earlier in 2021 with a line of CBD products for pets. “Since launch, the product line-up has extended into top-selling gift boxes for occasions including Mother’s Day and Valentine’s Day, which sold out prior to the holiday due to high consumer demand,” Canopy said in a statement. U.S.-listed shares were slightly lower premarket, and are down 7% in the year to date, while the Cannabis ETF has gained 27% and the S&P 500 has gained 9.6%.
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