Thoughtful Brands Inc.: Thoughtful Brands Bolsters Sales Channels in North America and Europe
VANCOUVER, BC / ACCESSWIRE / March 11, 2021 /
Thoughtful Brands, Inc.
Company" or "
Thoughtful Brands"), an eCommerce technology company that researches, develops, markets, and distributes natural health products through various brands in North America and Europe, has cancelled the acquisition of Franchise Cannabis Corp. ("
FCC"), previously announced in January. The move allows the existing joint venture with FCC to remain in place, ultimately providing stronger sales and operations networks in North America, and throughout Europe.
The positive changes in the market during Q1 2021 within the cannabis and CBD sectors were key factors in the decision by management to not move ahead with the FCC acquisition. Over the past two quarters, the Company has focused on increasing profitability through improved customer retention rates, contributing to higher net margins as customer acquisition costs were front end loaded and initial margins were typically lowered. Economies of scale are a key lever when it comes to customer acquisition, end-to-end product supply chain management, and timely delivery.