Phivida Holdings, a Canadian manufacturer of CBD-infused products, and Namaste Technologies, an online retailer of vaping and smoking accessories, have hashed out an agreement in which Namaste, for the next 24 months, will be Phivida’s exclusive online retailer, the two companies announced on January 11, 2018.
Under the agreement, the two companies will share the costs, split right down the middle, of any and all product marketing expenditures incurred within the territories outlined in the agreement. The territories include a global digital territory as well as Germany and Australia.
The recently signed agreement ensures that the retail price of the product set by the manufacturer, Phivida, will be maintained by Namaste. In other words, customers can choose to buy the products direct from their manufacturer or through Namaste’s online store, but no matter which they choose – the price remains the same.
Phivida manufactures a range of CBD-infused products spanning from beverages and extracts to juices and shots, all of which are professionally formulated by healthcare practitioners and created from premium ingredients that are tested for safety, quality, and manufactured to Good Manufacturing Practice (GMP) standards.
Namaste CEO and president Sean Dollinger indicated in a statement that his company “is extremely excited to be partnering with Phivida” and that they’re “looking forward to entering the beverage space together” as Namaste believes there to be “significant demand” for Phivida’s products on their market.
“Namaste is extremely excited to be partnering with Phivida and its world-class management team. We’re looking forward to entering the beverage space together with Phivida as we believe there is significant demand for these products in our market.”
He added that they “fully expect” the newly formed partnership “to evolve” and that they “fully intend on exhausting all opportunities whereby both parties are able (to) grow and expand their respective market share.”
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