Urban Juve ready to disrupt $3.7-trillion wellness industry with first-to-market hemp root oil products
Urban Juve aims to be first to the Canadian market with an extensive line of Ayurvedic wellness products that legally contain non-psychoactive hemp root oil following passage of the Cannabis Act in October.
“We’ve completed full product testing and registration for 12 products, which are already being manufactured,” says Penny Green, president and CEO of parent public company The Yield Growth Corp. (CSE: BOSS). “Two of those products — including our hemp oil-infused anti-aging serum — are already available through our e-commerce store. We’re developing sales channels across the country for the next 10.”
While sale of hemp seed oil is already legal in Canada, products containing hemp root oil had been legally unavailable to Canadians for almost a century.
“Hemp root is valued according to ancient Ayurvedic tradition,” says Green. “Hemp seed oil is a powerhouse packed with antioxidants, essential amino acids and vitamins and minerals, including calcium, potassium, magnesium, copper, folate and vitamins B-6 and E. Our extraction method is designed to preserve those ingredients. Hemp root oil is much lighter than hemp seed oil and absorbs into the skin more easily.”
Urban Juve worked tirelessly in anticipation of legalization to develop the wellness brand, offering hand-crafted, daily-use cosmetic and therapeutic products. The company has filed 11 provisional patents in the U.S. to protect both its proprietary oil extraction method and 10 of its formulations.
Protection of its intellectual property is critical. The recent passage of the U.S. 2018 Farm Bill legalized the cultivation and sale of products containing hemp root oil and hemp-derived cannabidiol (CBD), the nonpsychoactive component of hemp, across every state.
The development and executive team behind Urban Juve includes Sandi Lesueur, who boasts an impressive resume in the beauty industry, having contributed to the growth of MAC cosmetics, as well as developing and launching multiple product lines for respected physicians and celebrities. Lesueur recently signed on to serve as president. Bhavna Solecki, who came to Canada from India, brings with her an intimate knowledge of Ayurvedic principles. Vice-president of licensing is Amy Frankel, who was co-general counsel of Aritzia LP and associate general counsel of Skechers USA Inc., and who offers significant experience in building, protecting and expanding international brands.
“It’s great to have these talented women on our team, who are driving product development and know how to create and grow our brands,” says Green.
The company has already sold distribution rights to some of its products in Italy and is looking for marketing partners in China. Additionally, several Urban Juve products have been provisionally formulated to accept infusions of CBD or tetrahydrocannabinol (THC) once a regulatory framework for topical applications is developed and partnerships with licensed producers are established across the U.S. and Canada.
“Urban Juve has roughly 50 products set to enter the market in late 2018 and into 2019,” says Green. “We hit the ground running, but haven’t rested in developing products that resonate with our customers. The global wellness industry is estimated to be at $3.7 trillion, and we’re well-positioned to be major disruptors in that market.”