Pure Sunfarms, which is a Village Farms International Inc (NASDAQ:VFF) JV, commenced shipment of Cannabis 2.0 products and bottled oils to British Columbia. It will begin the shipments to Alberta and Ontario soon.
CEO of Pure Sunfarms, Mandesh Dosanjh said flower is the basis for all the products at Pure Sunfarms. The company designed and developed cannabis 2.0 products using its growing experience and commitment to deliver high-quality products.
Develops vapes using signature strains
Pure Sunfarms developed and manufactured its oil and vape products using its naturally grown and signature strains. It always selects the flower’s right parts to offer a smooth and safe experience to the customers from beginning to end.
A measured approach
Mandesh further said Pure Sunfarms adopted a tested and measured approach for its product strategy. The company strengthened its presence in the dried flower space as a first step and leveraged its reputation, brand, and expertise to jump into the higher value and large product categories. Vapes command the second-largest position at the Ontario Cannabis Store.
CEO of Village Farms, Michael DeGiglio, said Pure Sunfarms maintained a leading share in the Ontario market for three consecutive quarters after its branded retail products in September 2019. Ontario is the biggest provincial market in Canada.
Pure Sunfarms will maintain the same winning strategy for its bottled oils and cannabis 2.0 products, which are economical and high quality to consumers. Michael said the customers will accept these products with the same enthusiasm, just like they did for the dried flower products of Pure Sunfarms. The main target of Pure Sunfarms is to become a number one or a number two brand in every product category it introduces in the market.
Pure Sunfarms maintains a significant price advantage in the Canadian market, being an economical greenhouse manufacturer. It also strives to maintain high-quality products to keep an upper hand against illicit products and improve its share in the legalized market.
Village Farms posted a growth of 15% YoY to $47.6 million in sales in Q2 2020. Pure Sunfarms reported a decline of 40% YoY to $14 million in sales in Q2 2020. Village Farms holds a majority stake of 58.7% in Pure Sunfarms.
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