Bain Veteran Backs Cannabis ‘Mini-Amazon’ With CBD Beauty Fund
CBD cosmetics and hemp beauty products are among the newest trends for investors and startups as the brand Standard Dose attempts to become a "mini-Amazon" for CBD products. With CBD skyrocketing around the world in products from coffee and cocktails to food and beauty products, the entire market could even be worth equal to or more than the marijuana industry one day, estimates are around $20 billion by 2022. Even large companies not in food or beauty products want to get their foot in the CBD door. DSW the show retailer would like to get into CBD lotions and foot creams at nearly 1/5 of their U.S. stores in the coming years. The Standard Dose website will feature a wide variety of products and education tools for consumers, but the company is also proud of their to-be brick and mortar store they want to open in Madison Square Park in New York.
Jay Lucas, who worked at the Boston-based consulting firm for about a decade in the 1980s, has launched a $50 million fund focused on cosmetics and beauty products derived from hemp, a type of cannabis. The fund’s first investment was in Standard Dose, a brand and e-commerce site that strives to be a “mini-Amazon” for CBD, Lucas said.