Uncle Bud’s, a hemp and CBD brand that sells more than 70 products across more than 15,000 retailers in the U.S., is now entering the Chinese market via a partnership with Alibaba Group’s Tmall. Earvin “Magic” Johnson, financial partner at Uncle Bud’s, will assist in the marketing and promotion efforts, kicking off with a live appearance (via satellite) on November 6.
“I’m excited to be part of this significant development and business expansion for Uncle Bud’s because China has an enormous buying power and a large consumer base. The Tmall live event is a great way to connect with this viable market and introduce Uncle Buds products to a new customer base,” Johnson said in an exclusive interview.
For a few years now, Chinese retailers have been offering massive discounts on November 11. The date, dubbed Single’s Day, 11.11, or Double Eleven, is now the top grossing sales day in China. Last year, gross merchandise volume hit $38.4 billion.
Thus, being selected to launch a brand in China on that date, with the full support of one of the country’s leading retailers, was no small feat.