MJBizMag July 2020 - 84

Rachael Rapinoe, right, CEO
of Mendi, recruited her twin
sister, Women's World Cup
champion Megan Rapinoe, to
serve as a brand ambassador
for the Portland, Oregon-based
company. Courtesy Photo
M
ajor League Baseball
announced in December that
it had removed cannabis from
its list of banned substances, permitting
active players to use hemp-derived
CBD products. In February, NFL team
owners approved the terms of a deal
that would do much the same-and
more. Which begs the question: If
CBD products are fine for professional
athletes, why not amateurs?
As CBD use and acceptance increases,
more opportunities for companies
interested in working with athletes
exist within the amateur market-from
teenagers to adults engaged in all kinds
of sports.
The potential pool of customers is
large, given that millions of Americans
play basketball, baseball, hockey, golf
and other sports in their spare time.
These same amateurs might turn to
hemp-derived CBD to ease sore muscles
and joints.
" We all have an endocannabinoid
system, and everyone needs to feed it, "
said Rachael Rapinoe, CEO of Portland,
Oregon-based CBD company Mendi.
Rachael also is the twin sister of Megan
Rapinoe, 2019 Women's World Cup
Most Valuable Player and 2019 Sports
Illustrated Sportsperson of the Year.
Rachael Rapinoe launched Mendi
during the 2019 Women's World Cup;
the company sells a line of hemp-derived
CBD gummies, salve sticks, gel caps and
massage oil. Megan Rapinoe is a Mendi
brand ambassador.
MARKETING MATTERS
The CBD market is forecast to post strong
growth over the next few years, thanks
to the passage of the 2018 Farm Bill
legalizing hemp. According to the 2019
Hemp & CBD Factbook, hemp-derived
CBD sales are projected to reach
$9.3 billion-$11.3 billion by 2024,
up from $1.1 billion-$1.3 billion in 2019.
(See chart on page 84.)
To reach amateur athletes, CBD
companies are employing numerous
marketing strategies through their
websites and social media channels.
They also are deploying brand
ambassadors and signing endorsement
deals with big-name athletes. And
82 Marijuana Business Magazine | July 2020
CBD companies are eyeing the
market for amateur athletes. The
potential pool of customers is large,
given that millions of Americans play
sports in their spare time. Here's what
you need to know:
* To reach amateur athletes,
CBD companies are employing
numerous marketing strategies
through their websites and social
media channels.
* Hemp-derived CBD businesses also
are deploying brand ambassadors
and signing endorsement deals with
big-name athletes.
* CBD companies catering to high
school athletes are advised to
create relationships with school
professionals, including coaches.
* It's also important to meet standards
and follow the rules, such as listing
the correct amount of CBD or THC
on product labels.
* According to the 2019 Hemp &
CBD Factbook, hemp-derived
CBD sales are projected to reach
$9.3 billion-$11.3 billion by 2024.

MJBizMag July 2020

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