Greenlane Announces Expansion Into Disposable Nicotine Offerings
BOCA RATON, FL / ACCESSWIRE / June 28, 2023 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") (NASDAQ:GNLN), one of the largest global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today announced its expansion of products to include disposable nicotine offerings.
This initiative aligns with the company's strategic vision as a leader in the market to offer a diverse portfolio of products that are profitable and in high demand by a broad range of customers. With a total addressable U.S. market exceeding $6 billion annually and expected to grow at a compound annual rate exceeding 11%, disposable nicotine products have a significant impact on Greenlane customer revenues.
With historic knowledge and expertise in this category, Greenlane strategically surveyed market and consumer buying habits to identify key industry leading partners, manufacturers, and brands to best capitalize on the expansion into this market segment. These brands, including Fume, Death Row Vapes, Packspod, and Tyson 2.0 enable Greenlane to offer a broader portfolio of diverse and high-quality products that align with consumer buying trends.
"With a rapidly changing marketplace and dynamic consumer sentiment, our expansion into this profitable market of disposable nicotine reflects an asset light business structure that maximizes our flexibility and minimizes risk, which further positions us for growth and profitability," said Craig Snyder, CEO of Greenlane.
About Greenlane Holdings, Inc.
Founded in 2005, Greenlane is a premier global platform for the development and distribution of premium smoking accessories, vape devices, and lifestyle products to thousands of producers, processors, specialty retailers, smoke shops, convenience stores, and retail consumers. We operate as a powerful family of brands, third-party brand accelerator, and an omnichannel distribution platform.
We proudly offer our own diverse brand portfolio including DaVinci Vaporizers, Higher Standards, Groove, and Eyce, and our exclusively licensed Marley Natural and K.Haring branded products. We also offer a carefully curated set of third-party products such as Storz & Bickel (Canopy-owned), Pax, VIBES, and CCELL through our direct sales channels and our proprietary, owned and operated e-commerce platforms which include Vapor.com, Vaposhop.com, DaVinciVaporizer.com, PuffItUp.com, EyceMolds.com, HigherStandards.com, and MarleyNaturalShop.com.
SOURCE: Greenlane Holdings, Inc.
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Released June 28, 2023