Future State Brands and Yooma Partner to Launch First U.S. Hemp Beauty Brand In China With Cannabinoid Ingredients on the Rise, Hempathy Becomes an Early Market Entrant in China’s Next Big Beauty Trend
“China is in the early stages of cannabinoid legalization reminiscent of the legalization journey in North America. With 1.4 billion consumers and the recent acceptance of CBD for topical skin care, the market opportunity became clear to be an early brand into what we know will be a sizable hemp-based beauty trend in the coming years,” said Drake Sutton-Shearer, CEO and Founder of Future State Brands.
Hempathy is available via the Peach & Coco Tmall Global store, a Yooma-owned eCommerce retailer. Through this partnership, Future State Brands will focus on rapid expansion in additional sales channels in an effort to move with the momentum and become a leader in China’s cannabinoid beauty market.
“We’re thrilled to partner with Drake and Future State Brands to launch Hempathy in the lucrative Chinese market at a time when cannabinoid beauty is really taking off,” said Ron Wardle, Co-CEO of Yooma. “We project a $15 billion market opportunity over the next five years in China and early indicators show that to be very much on track. We’re excited to see Hempathy lead the charge on educating around hemp-based beauty and flourish in this next chapter.”
Hempathy is currently available for purchase in the U.S. on Hempathyliving.com, via Amazon, Walmart, and with additional select retailers in 2021. The brand was included in Allure’s “Best of Beauty 2020”, with additional coverage in Vogue, Harper’s Bazaar, Elle and InStyle Magazine. Hempathy is a recent 2020 nominee for the Los Angeles Business Journal Beauty Awards.
About YOOMA CORP.
Yooma Corp. is Asia’s leading hemp & CBD Lifestyle social commerce company, headquartered in Toronto with offices in Shanghai, Tokyo, and Los Angeles. We have assembled a stellar international team of multi-cultural industry professionals with experience in digital, eCommerce, entertainment, and social media in the fast-growing pan-Asian region with particular depth and expertise in the Chinese eCommerce market. We develop, incubate, and scale the next generation of clean beauty and wellness brands for Asia, with data-driven digital marketing precision. Through Yooma’s multi-channel, multi-platform distribution channels, we utilize best-in-class global partnerships to deliver the benefits of high quality, safe, effective, and compliant hemp & CBD beauty and wellness products to consumers in Asia.
About Future State Brands
Future State is a consumer packaged goods company creating a brighter tomorrow through lifestyle and wellness brands that inform, relieve, heal and connect the world. We incubate brand concepts with the shared belief that meaningful brands create positive change, enabled through borderless e-commerce and digitally native storytelling. Key strategic partnerships include Beanstalk Licensing Agency, Licensing Expo Trade Show, RONIN, Advertising Week and MDDN.
Future State Brands is headquartered in Los Angeles, CA.
Erin Grant, Communications
About Tmall Global
Launched in 2014, Tmall Global (www.tmall.hk) is an extension of Alibaba Group’s Tmall platform that addresses the increasing Chinese consumer demand for international products and brands. It serves as the premier platform through which overseas brands and retailers reach Chinese consumers, builds brand awareness, and gain valuable consumer insights in forming their overall China strategy, without the need for physical operations in China. According to Analysys, Tmall Global was the largest import e-commerce platform in China in the 12 months ended March 31, 2020, in terms of GMV.