Greenlane Holdings Inc (NASDAQ:GNLN) posted $34 million in revenues in Q2 2020. Its consumer e-commerce arm reported a growth of 74% in orders to 16,000. The company’s net profit accounted for 21% of the sales to $6.7 million.
Introduces VIBES branded Products
Greenlane launched VIBES branded products in Europe and Canada in June 2020. It also improved the availability of its products to more than 2,000 retail locations worldwide.
Greenlane unveiled innovative VIBES apparel collection that comprises six distinct designs across 25 products and VIBES Cubano Cones. Berner and Greenlane established VIBES Fine Rolling Papers JV.
VIBES engages in offering a wide gamut of premium cones, branded accessories, and rolling paper for creating an enjoyable smoking experience for the connoisseurs. CEO of VIBES, Berner said the company curated and created VIBES Papers with a target to provide innovation in the industry and a better experience for the connoisseurs. It introduced Cubano with an innovation to the traditional cone in size and width. Berner further said Cubano perfectly complements Cookies brand.
Cubano features a wider diameter and bigger size compared to a king-size paper. They are meticulously hand-rolled to maintain the shape at the time of packing and ensure consistent burning because of the drafted angle.
A Strong reputation
After the launch in 2019, VIBES acclaimed a strong reputation for manufacturing high-quality papers. The appeal of accessories and apparel enabled the company to establish a genuine lifestyle brand.
VIBES will also introduce innovative apparel collection that comprises Queen, Joint Cloud, 3D, Cheetah, Block, and Goat designs across 25 items (sweatshirts, hoodies, shirts, etc) on July 31, 2020, on its online site.
Greenlane unveiled Lucid ID powered G-Verify, a consumer-facing and scannable product verification program, to offer a reliable product. It also ensures the delivery of educational content to retailers and consumers.
G-Verify allows brands to communicate information about their products directly to the customers. It can be used to ensure the authenticity of the products and share details of child resistance compliance and manufacturing certifications.
Greenlane inaugurated new retail stores in Barcelona, Spain, in alliance with Cookies in May 2020.
CEO of Greenlane, Aaron LoCascio, said the company posted a solid performance in Q2 2020 despite the challenging economic conditions created by COVID-19 pandemic.