Charlotte's Web
An EGV Regulatory Strategy and Business Development Example
Key Insights
Charlotte's Web, in partnership with EGV, successfully scaled their CBD products through regulatory engagement and strategic expansion, giving them market freedom in the states of New York, California, and Florida.
Company Overview and Market Leadership
Charlotte’s Web is a pioneering and innovative health and wellness company, known as the market creator and leader of CBD (cannabidiol).
Challenges in Key States and Strategic Engagement
Charlotte’s Web initially engaged EGV for business development, regulatory, and marketing assistance. At the time, the company was facing significant regulatory obstacles in two of America’s largest states (New York and California) and market challenges in a third (Florida): a New York law prevented Charlotte’s Web from selling their CBD in New York State, and in California CBD remained technically illegal (though adult use marijuana was not). EGV hired and managed lobbyists in CA, NY, and FL on Charlotte’s Web’s behalf to obtain their desired outcome.
Regulatory Strategy and Success in Market Expansion
EGV designed and implemented a sophisticated regulatory strategy, utilizing lobbyists, a carefully designed PR strategy, and real-time information on the American CBD landscape. This persuaded key government stakeholders in New York State, California, Florida, and Washington D.C. to pass laws, amend bills, and regulatory approaches in CW’s favor, allowing them to continue to sell their product and grow their revenues in these formerly inaccessible markets.
