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CV Sciences Inc (OTCMKTS:CVSI) Reports Revenues Of $53.7 Million In 2019: Increases Retail Distribution Footprint To Over 5,500 Stores



CV Sciences Inc (OTCMKTS:CVSI) has reported revenues of $53.7 million (up 11%) in 2019. It also increased the retail presence to over 5,500 stores (up 148%) as of December 31, 2020, by enhancing alliances with existing and new retail channels across the nation. E-commerce sales account for 19% of the total sales. The company also expanded its retail footprint in the drug, food, and mass channel. It is also in discussions to expand the PlusCBD oil brand.

CV Sciences laid the foundation and developed infrastructure to support long term growth of CBD products. Despite facing challenges, the company prudently achieved significant progress in 2019. Last year is promising for CV Sciences and the hemp CBD industry. CEO of CV Sciences, Joseph Dowling, said the company focused on strengthening its product offerings, brand, and added new categories to cater to the new opportunities.

Dowling said the company would continue to work with the US FDA to develop innovative products and become a leader in ensuring safety and quality in the industry. He said regulatory clarify from the US FDA would help to ensure quality for the customers and the retailers. CV Sciences would expect to win the race because of its proven track record in maintaining safety, quality, and regulatory compliance. During 2020, CV Sciences is focusing on maintaining economies of scale and drive innovation and improve distribution. The company will realign the financial model to suit the current market environment.

Introduces renovated PlusCBD Oil Website

CV Sciences has unveiled the revamped PlusCBD Oil website in January 2020. It is aimed to improve e-commerce sales and enhance the customer experience. The customers can buy PlusCBD Oil products and enjoy a host of health benefits like restoring the natural balance of the body, quick recovery of muscles and joints, and sound sleep. Your body will receive vitamin E and fatty acids from the full spectrum of hemp products offered by CV Sciences.

The renovated website boasts a fresh look. It makes the journey of users in exploring CBD products convenient and facilitates easy selection. The new website comes with informative blogs and multimedia educational resources to help users understand the health benefits of CBD products.

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