Cannabis company Cresco Labs (CSE:CL) (OTCQX:CRLBF) is expanding its social occasion-based Good News brand with the launch of its new edibles and vape products: Counting Sheep, Day Off and Pride.
Counting Sheep, Cresco’s first product containing CBN, features black cherry-flavored gummies and disposable vape pens with a CBN and THC Indica effect.
Day Off is a hybrid THC effect formulated with CBD and includes peach-flavored gummies and disposable vape pens.
Pride is a Sativa-forward offering with sour fruit-flavored gummies and punch-flavored disposable vape pens. Pride is available in select markets throughout June in honor of Pride month.
Greg Butler, chief commercial officer at Chicago-based Cresco Labs, is enthusiastic about bringing these products to California, Illinois, and Michigan.
“Building on the successful launch of Good News, we’re continuing to differentiate the brand both in our wholesale portfolio and markets through exciting new edible and vape products that demonstrate cannabis’s many benefits and role in being a part of various social occasions,” Butler said. “Our strategy is to find the right product and brand mix to appeal to the right consumer segment and market needs, as well as launch innovations at opportune times in our markets.”
According to BDS Analytics data, edibles sales across markets in Arizona, California, Colorado, Illinois, Maryland, Massachusetts, Nevada, and Oregon grew by 31% year-over-year, with gummy retail sales showing a 5% sequential increase to a record high of $252 million in the first quarter of 2021. The vapes category saw sales increase by 27% year-over-year across the same markets.
Photo Source: Cresco Labs