Flora Growth Corp. (NASDAQ: FLGC) has signed a licensing agreement with Tonino Lamborghini to produce and distribute Tonino Lamborghini branded CBD (cannabidiol) beverages across North America and Colombia under the company’s renowned luxury lifestyle brand. Mr. Tonino Lamborghini has been taking inspiration from his family heritage and his vast experience in mechanics and engineering to develop his homonymous lifestyle experience brand dedicated to luxury design products and real estate projects.
The company said in a statement that the Tonino Lamborghini product line will be produced through Flora’s division and contain CBD and other premium cannabinoids such as cannabigerol (CBG). Under the licensing deal, Flora will retain the right of first refusal to produce and distribute any CBD or CBG products globally under the Tonino Lamborghini brand. The products will be produced in Florida initially for sale in US states where CBD ingestible are legal. Flora will be responsible for production and distribution and will target both ecommerce and brick-and-mortar channels.
“We are excited to partner with such a well-known luxury brand as Tonino Lamborghini, which already boasts a very successful line of beverages and aligns with Flora’s brand portfolio of high-end products,” said Luis Merchan, CEO of Flora. “This partnership is yet another step in the execution of Flora’s strategic plan to build a world-class house of brands and is also a major component of our sales and distribution strategy in the lucrative US market.”
The Tonino Lamborghini product line will be produced using Applied DNA Sciences, Inc. (NASDAQ: APDN) molecular tagging and authentication technology to ensure product verification, in line with the new age of cannabis consumer packaged goods (CPG). Flora will leverage this technology to ensure that the company’s products are derived distinctly from Flora’s operations, which will substantially reduce concerns of any illicit market or counterfeit products across North America or Colombia.
“Together with Flora we aim at creating new and innovative products and experiences for the modern consumer’s wellbeing,” said Ferruccio Lamborghini, CEO and VP of the Italian company. “Our branded beverages are studied to help people to achieve a sense of calm and coolness in both stressful times and ordinary daily routine. I am especially enthusiastic about the molecular tagging and authentication technology Flora will use to track with full transparency the top-notch ingredients origin.”