Iconic Brands's mission is “to be the industry leader in brand development, marketing, and sales of the highest quality alcoholic beverages by capitalizing on our ability to procure superior and unique products from around the world. Our relationships with internationally recognized celebrities will be leveraged to add value to an already extraordinary product and create brand awareness in unbranded niche categories.” It appears that the company is also venturing into the hemp space, as well.
According to a press release, the company has formed a wholly-owned subsidiary – Hempology Inc., a hemp-CBD brand that is based in Southwest Chicago. Hempology, Inc. offers a range of CBD products. The press release discusses the formation of the wholly-owned subsidiary, stating that “that the company has formed a new wholly owned subsidiary, Hempology Inc., which will be in the business of creating products infused with Hemp and CBD as allowed by current law, and rules of the Alcohol and Tobacco Tax and Trade Bureau. We will be working closely with our manufacturing partner on these new and unique formulas and the company will be putting up a new website specific to Hempology.”
Iconic Brands, Inc. also identifies four key initiates that would be in place for the year 2019. These initiatives include:
- Celebrity Branded Products
- Private Label Brand Development
- Hempology, Inc.
- Merger and Acquisition Opportunities
In 2019, Brightfield Group released a press release on CBD market growth through 2025. According to the report, “2019 is shaping up to be a massive year for CBD, leading to just over a $4 billion industry by end of year – a 562% increase since 2018. Mass retailers are dipping their toes in the space, leveraging CBD as an opportunity to innovate their brands that have been plateauing. Meanwhile, CBD brands are aiming for accelerated growth through 2020 before these retailers take over. Prioritizing brand equity and awareness, product development, and deep consumer understanding is key.”
All information is for general informational and educational purposes only. Nothing should be interpreted as legal or wellness advice.