- The first products resulting from the joint venture between Cannabis Strategic Ventures and True Promise Beauty are scheduled to be launched by the end of 2018
- The CBD-based luxury cosmetics line will feature face, skin and hair care products
- These products feature innovative formulations that aren’t currently available; the two companies hope to achieve strategic success in a constantly expanding luxury skin care market
Cannabis Strategic Ventures, Inc. (OTC: NUGS) and True Promise Beauty have announced the development of LYXR – a new line of cannabidiol (CBD)-based luxury skin and hair care products. The entire LYXR line will be developed from ingredients like hemp-derived phytocannabinoids and other natural components, according to a company announcement on September 20, 2018 (http://ibn.fm/KSKKD).
Cannabis Strategic Ventures and True Promise Beauty will first launch a face mask that is made from a CBD isolate. The applications of CBD in the cosmetic industry are numerous. Cannabidiol is believed to have anti-aging hydrating properties, as well as anti-inflammatory and antioxidant effects. Upon the full development of the LYXR range, the line will feature face, hair and skin care products. According to an official announcement, LYXR products will become available for purchase in early winter 2018.
The news came as a week earlier, on September 13, 2018, Cannabis Strategic Ventures and True Promise Beauty announced a strategic partnership aimed at the development of innovative skincare products. Under the terms and conditions of the agreement, Cannabis Strategic Venture acquired access to a proprietary hemp-derived CBD-infused formula developed by True Promise Beauty. In addition, the company gained access to well-established distribution channels (http://ibn.fm/i0Ywi).
Cannabis Strategic Ventures CEO Simon Yu said in a news release that LYXR provides an amazing opportunity for the introduction of cannabis science in the world of luxury cosmetic products. According to True Promise Beauty President Gail Johnson, the partnership will create a product line that’s brand new to the marketplace. CBD, combined with viable cosmetic formulas developed by experienced chemists, could potentially revolutionize the topical approach to skincare, haircare and body care, Johnson said.
A 2017 report suggests that the global personal care product market is bound to grow to $650.1 billion by 2024 (http://ibn.fm/QYIwv). The face mask market alone is forecast to register an increase of $8 billion by 2020.
LYXR’s initial distribution will target existing distribution networks in the U.S. Product developers believe that the scientifically-proven benefits of CBD will enable cosmetics developers to enter a new era marked by innovative proprietary formulas.
Based in Los Angeles, California, Cannabis Strategic Ventures focuses on supporting entrepreneurial growth within the legal cannabis industry. The company has a selective portfolio of subsidiaries aimed at offering outsourced personnel solutions that are tailor-made to address the needs of various companies specializing in the sector, including cultivators, dispensaries, manufacturers and other cannabis market areas.
True Promise Beauty was founded by Gail Johnson, an Emmy-nominated makeup artist. Johnson’s primary aim was to develop high quality products that even actors and actresses could use to get instantaneous skin rejuvenation. The company has well-established distribution channels with companies such as L’Oréal (OTC: LRLCY), Beauty Systems Group and Salon Centric.
For more information, visit the company’s website at www.CannabisStrategic.com
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