Exactus, Inc. (OTCMKTS:EXDI) has acquired the luxury cosmetic brand LeVor Collection, a health, wellness and beauty company located in South Florida, which offers luxury cannabinoid-infused cosmetic products
In a statement, the farmer and manufacturer of hemp-derived phytocannabinoid products said the acquisition expands its brand portfolio and provides the company with a distribution channel into the rapidly growing cosmetic market.
According to the Brightfield Group, personal care products including CBD infused topical cosmetics and body care products is one of the largest and fastest-growing segments of a market which is expected to grow from $1.3bn in 2019 at a compound average growth rate (CAGR) of 169% to 2018-22.
Emiliano Aloi, Exactus President & CEO commented: “This acquisition comes at a perfect time for us. It is directly connected to RTI cGMP manufacturing and fulfilment that we can leverage to scale very fast without compromising our existing growth, maximizing every marketing dollar used in this division to convert to revenue and profitability.”
The newly formed company is pre-revenue and provides Exactus a turn-key solution to rapidly scale up its e-commerce platform.
LeVor Collection is an all-virtual brand, manufactured by an established cosmetics manufacturer in cGMP facilities, and produced in Real-Time Inventory interfaced to a multiplicity of online distribution platforms.
Its products include highly effective, premier skincare applications supported by advanced research and integrity. Every product is certified as Cruelty-Free and is Made in U.S.A. in cGMP-certified facilities.
Exactus also announced that it has decided to dedicate a portion of proceeds generated from the LeVor Collection to the Funding Another Day Foundation in Benefit of Mental health.
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