Simon Malls is going to open shops owned by Green Growth Brands across the U.S.
Simon Malls is already known for having the largest footprint for retail malls in the U.S. It is now about to propel a new wave of CBD awareness and adoption after it entered an agreement with Green Growth Brands to launch a series of cannabis stores in its malls across the U.S. In total, 108 stores are expected to be opened.
Simon Property Group, the parent company of Simon Malls, said this past Monday that it had agreed to the deal, which will see cannabidiol (CBD) stores in malls such as The Galleria in Houston, TX and Roosevelt Field Mall In New York. The president of Simon Malls, John Rulli, explained in a press release, “We are constantly on the lookout for cutting-edge new concepts. We are committed to adding new and dynamic retailers and uses to our shopping destinations, and the GGB shopping experience is exactly the type of innovation our customers want and expect from us.”
The first store is expected to open this March. It will be located in Castelton Square Mall in Indianapolis, and other locations will follow throughout the year.
The move will be beneficial to both companies. Green Growth will increase its CBD footprint and Simon Malls will be able to fill empty retail space that has surfaced as a result of slower brick-and-mortar sales.
CBD continues to expand across the U.S., as well as the globe. It is finding a strong foothold in the retail sector and has been accepted by retailers such as Neiman Marcus and Sephora. This week, Barneys, a luxury department store found in Beverly Hills and New York, announced that it, too, would open a CBD shop in its Beverly Hills location.