The brand started sales in August 2019 with a hemp clay mask and its first batch of over 500 units sold out instantly. The brand has since added two more products to its portfolio, a hemp face oil and a hemp moisturizer.
Over the past year, the company has seen roughly 20% month-over-month growth, in part due to the increase in e-commerce and skin care demand that we have been experiencing. witnesses last year after the outbreak of the COVID-19 pandemic.
The company believes that with growing interest in ingredients derived from cannabis, it is still only at the beginning of its journey.
âFor the first year, we were sort of that brand for problem skin, but what we realized was that since there are so many different types of hemp oil benefits. , we actually want to become a general skin care brand that focuses on that hemp aspect of things, â said Fedele D’Amico, Marketing Manager, Hey Bud Skincare.
In February, Australia’s Therapeutic Goods Administration (TGA) approved the sale of low-dose cannabidiol (CBD) in pharmacies without a prescription.
The company hopes that these regulatory developments will eventually allow it to expand the development of its CBD products.
âIn the future, we definitely want to switch to CBD, so we’re sort of waiting for CBD to be available for skin care in Australia by the TGA, and then we can move there as well, and so it will. . become more of a cannabis skin care brand that will contain hemp seeds as well as CBD skin care lines â, said COO Ollie Watts.
The company said it has already started developing CBD products with its partners, so it would be ready anytime when CBD cosmetics are licensed in Australia.
The company aims to close the year with revenues of AU $ 4 million (US $ 3 million) to AU $ 4.5 million (US $ 3.4 million). Building on its success, the company will focus on expanding the business in several ways.
Along with a series of new launches and expanding its own team with in-house creatives, one of the company’s biggest goals is to expand into the brick and mortar retail business.
The firm told us that she is speaking with “some of the biggest retailers” in Australia.
In addition, the company is looking to expand its brand presence in the international market with a focus on New Zealand, the United States, Canada and the United Kingdom.
Alex Roslaniec, who leads sales and product development for the brand, said the company is also working to improve the customer experience with the brand through personalization.
âPersonalization is a great opportunity for brands. One thing that we are currently developing is getting more details from our customers. For example, through a skin care quiz. And then we can start to create that process, whether it’s through AI or other kinds of programs, where you give people really personalized recommendations on what kinds of products they should have.In addition to this, you need to know more about it.