The Valens Company poised to enter Quebec
Published on August 19, 2021 by oz. staff
The Valens Company is a step closer to breaking into Quebec—the third largest market in Canada.
Kelowna-based Valens says it’s now authorized by the Autorité des marchés publics (AMP). The AMP is a key gateway into the province for companies that want to do business there, and its authorization means Valens can now apply to become a registered vendor to supply goods and services in Quebec.
“Our team has been working tirelessly to expand our domestic distribution network and Quebec would represent the fourth domestic market we have entered since the beginning of fiscal 2021,” says Valens CEO, co-founder and chairman Tyler Robson.
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Blessing from the AMP isn’t a guarantee through Quebec’s door, but “it fulfills a fundamental requirement in the process of achieving vendor status,” says Valens.
Quebec represents about 17% of Canadian cannabis retail sales, according to Statistics Canada.
La Belle Province will be the seventh province/territory in Valens’ domestic distribution network, which includes Alberta, British Columbia, Manitoba, New Brunswick, Ontario, Saskatchewan and Yukon Territory.
Also expanding into Japan
Meanwhile, the company has also been expanding its global reach to Japan.
CBD products from the company’s US subsidiary Green Roads are now available online to Japanese consumers through a third-party distribution agreement with Tele Marche Co.
Green Roads’ tinctures, pet products, gummies, chocolate, bath bombs, and capsules are all available through the site.
The online store in Japan also puts a focus on education to help consumers learn more about CBD.
“We are confident that this new online store, along with its robust consumer education, will meet the growing needs of Japanese CBD consumers and will achieve success similar to that of our US e-commerce platform,” says Dale Baker, President, US of The Valens Company.
Japan’s population is about 127 million people
“We view Japan as a significant growth opportunity with untapped potential for leading North American CBD brands like Green Roads,” says Robson.
“With Green Roads and Valens’ products now collectively available in over 12 countries, we are rapidly increasing our distribution exposure and strategically positioning our platform to service many emerging markets poised for significant growth in new global regions.”
Valens has three manufacturing facilities in Kelowna, where they make everything from high-potency concentrates to pastel-coloured bath bombs. They manufactured 1.4 million cannabis products last year across 190 different SKUs.
Some of their most recent releases include two new flavours of Summit 10 iced tea and a double chocolate brownie from Verse Originals. The company is about to drop peanut butter cups through LYF Edibles.
Valens (VLNS) is one of the top performing cannabis companies in the world.