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MGC Pharma expands presence in budding UK cannabis market
2 minute read
Specialist pot-stock, MGC Pharmaceuticals (ASX:MXC), revealed this morning that luxury British department store, Harvey Nichols, has expanded the sale of the premium cannabidiol (CBD) MGC Derma and Derma Plus collections to two further stores within the UK — Birmingham and Edinburgh.
This expansion comes from strong and increasing demand following the overwhelming success of the launch at the Knightsbridge store in the June 2018 quarter. Revenue is expected to increase with these additional two stores, with sales driven further by a razor-sharp PR and marketing campaign that has positively impacted the MGC Derma footprint within the UK.
Of course, as always, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
The ongoing campaign, which has targeted press and social influencers, has enabled considerable brand exposure for MGC Derma across a range of prestigious (and far-reaching) print and online publications.
These include The Guardian, which has a circulation of 7.7 million, The Daily Mail (circulation 20.1 million), The Evening Standard (circulation 11.7 million) and BritishBeautyBlogger.com — circulation 30,000, and is directly linked to increasing brand awareness and sales. A taste of MXC in the media:
With its ever-expanding footprint and sizeable network of relationships, there’s a clear gateway for MGC Pharma into the UK market. Following recent changes in UK legislation on the use of medicinal cannabis, MGC Derma’s growing presence in the UK should provide MGC Pharma with a competitive edge in accessing this nascent market.
In a separate milestone altogether, three of MXC’s research-backed premium CBD products within the MGC Derma AntiAging collection have also been shortlisted for the Notebook Anti-Aging Beauty Awards. This makes for a significant achievement, validating the efficacy of MXC’s innovative products.
Roby Zomer, MGC Pharma co-founder and Managing Director, commented: “I am delighted to report that the Harvey Nichols’ launch of our MGC Derma and Derma Plus collections has been a success and is extending the products lines to two more stores. We have focused a lot of attention on building our brand exposure and presence in the UK market and are pleased to see it has paid off.”
“The UK is an exciting market for us due to recent changes in legislation and I look forward to exploring the possibilities for the MGC pharma division here.”
This latest development comes hot on the heels of a wave of positive newsflow from MXC. Last month, the bio-pharma small cap smashed a milestone of the highest order, securing full Good Manufacturing Practice (GMP) certification for its European pot production and compounding facility — the final step towards kicking off a commercial-scale production operation.