London Startup, thedrug.store, Aims to Clean up Europe's CBD Industry
LONDON, October 30, 2018
LONDON, October 30, 2018 /PRNewswire/ --
A London based startup has launched the online CBD retailer "thedrug.store" providing a quality selection for the growing demand for CBD products in the UK and mainland Europe. After previously working on the European expansion of the medical cannabis powerhouse Canopy Growth ($WEED, Mrk Cap $12billion), the founders, Johan Obel and Clemens Böninger, created "thedrug.store" to provide education around CBD as well as giving consumers access to verified legal, high-quality CBD products, in an effort to change the understanding and perception of CBD.
The CBD industry is on course to hit $2.1billion by 2022, and the UK market alone doubled in size last year, as consumers are seeking out CBD as a remedy for disrupted sleep, anxiety, and chronic pain, among others. thedrug.store set out to be a reliable and trustworthy source to purchase from, taking CBD to the mainstream consumer, by offering high-quality products, free from the illegal, psychoactive substance THC, in multiple application forms including sprays, oils, capsules and creams.
Founder, Johan Obel, said: "While working with Canopy (Growth), we saw many companies selling CBD oils in the UK and the rest of Europe, but the market was flooded with misinformation and illegal products. We really wanted to clear that up and be the reliable source customers could come to, not just to purchase products from, but to also have a trustworthy platform where they can learn about how CBD could benefit them on a personal level."
The ambition of the two young founders is huge, directly seeking advice from the Home Office and Government Agencies in the EU and making critical hires from Amazon, as well as chemists from Imperial College London. The reason for all this, Clemens Böninger explains, is that: "If we want to change the face of the industry and bring professionalism to the table, we need the right people to provide high-quality education and customer experience."
When asked about how they choose their brands, Clemens stated: "We look for effective and interesting products that go beyond the classic CBD oil, and work closely with the US brands to make sure the THC content is 0.0% so everything is compliant with EU regulations. It's a lot of work, but we have to take responsibility for the products we offer and ultimately what our customers purchase."
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