Cannabis magnificence has turn into so fashionable that Wall Street analysts have began treating it as a standalone class.
As magnificence merchandise laced with CBD, a non-psychoactive compound present in hemp and marijuana, proceed to seek out their means onto the cabinets of shops together with Sephora, Barneys and Neiman Marcus, analysts at Piper Jaffray are seeing additional progress on this “beauty and the bong” business. The development might assist increase the general CBD market, which Piper pegs at value $50 billion to $100 billion on day.
“This week at Sephora, we noticed a curated section in-store for hemp-oriented products featuring brands that have dipped their toe into this space,” Erinn Murphy, Piper Jaffray’s senior analysis analyst, stated in a observe on Wednesday. “We have seen a high level of interest in cannabis beauty from retailers over the past month based on our store checks and incremental launches.We expect further retailer developments in the coming months.”
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