Medical Marijuana, Inc. made a pair of new hires this month aimed at assisting the company with its further expansion into international markets, including Europe.
A Company of Firsts®, Medical Marijuana, Inc. was the first to create an international CBD market when the company began retailing CBD hemp oil products sourced from hemp grown in Europe. CBD hemp oil products from Medical Marijuana, Inc. are now currently available in over 40 countries internationally.
To capitalize on the rapidly growing CBD hemp oil market, Medical Marijuana, Inc. is acquiring talented team members who can specialize in capturing international opportunities. This effort has begun with the addition of two new hires. Alex Grapov was named as International Vice President for Medical Marijuana, Inc., while Jakub Duda was hired as Operations Director for Kannaway® Europe.
Alex Grapov has over 10 years’ experience in international business development and expansion – experience that will be leveraged to give Kannaway a strong foothold in the European marketplace.
Kannaway®, the first direct marketing network to offer CBD hemp oil products, recently announced its expansion into Europe with the establishment of Kannaway® Europe. Grapov’s first priority will be to open Medical Marijuana Inc. subsidiary Kannaway® Europe’s local operations. The company’s first international branch is expected to be fully operational by year’s end, 2017.
Prior to his new role, Grapov, a Russian native, worked as Managing Director for European Operations and Senior Director of European Sales at a pair of billion dollar U.S. companies, driving total annual sales exceeding $100 million.
“It’s a privilege to join a company like Kannaway®, and I am excited to work with such a high caliber of professionals to help drive Kannaway’s® unparalleled vision and exceptional product line throughout Europe,” said Grapov. “I am committed to creating a seamless opportunity for all the Kannaway® brand ambassadors to expand their business around the globe and create a true movement to enhance lives around the world. I couldn’t be more excited for the future, and believe as a Company built on ethics and integrity, Kannaway® is perfectly positioned to be a success in Europe and bring value to European communities.”
Grapov will also be responsible for driving Medical Marijuana, Inc.’s expansion into Latin America, a major focus for the company in the coming year. Medical Marijuana, Inc. was the first to develop a number of Latin American markets through its local subsidiaries HempMeds® Brasil and HempMeds® Mexico and has recently developed markets in Paraguay, Chile, and Argentina.
Kannaway has also announced that Jakub Duda has been appointed as Operations Director of Kannaway® Europe. Duda will be responsible for day-to-day activities at Kannaway’s new European headquarters.
Prior to his new role at Kannaway® Europe, Poland-native Duda worked with Kannaway® CEO Blake Schroeder running two successful European businesses that each grossed in excess of $50 million per year. He will bring that experience with him to his new role with Kannaway® Europe as he prepares the company’s international operations.
“We are extremely excited to become the first direct selling company featuring phyto-cannabinoid based products to have operations in Europe and to share our products, culture and mission throughout Europe,” said Kannaway ® CEO Blake Schroeder in speaking of the opportunity for expansion in Europe. “Furthermore, Jakub is an incredible addition to our team, and we are confident that his background and passion will help ensure that Kannaway® Europe is a success.”
Laws regarding the availability of CBD hemp oil in Europe are patchwork, with each country developing their own approach to regulating non-psychoactive CBD products derived from hemp. While many countries have already allowed the import and use of CBD hemp oil products, others still restrict access to cannabinoids like CBD, with some banning their use and possession outright.
It will be the role of Grapov, Duda, and the Kannaway® Europe home office to navigate these restrictions in the creation of new markets throughout Europe. The payoff for their success will be significant.
Potential value in international expansion of the CBD market is enormous. According to Forbes, the CBD market will grow to $2.1 billion in consumer sales by 2020 – with $450 million of those sales coming from hemp-derived sources.
Based on market estimates like these, Medical Marijuana, Inc. and Kannaway® Europe are positioning themselves competitively in these emerging European CBD oil markets.
Keep up-to-date with developments from the Medical Marijuana, Inc. portfolio of companies on our news feed.