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LAS VEGAS, NV / ACCESSWIRE / July 12, 2022 / In an industry dominated by multi-state operators (MSOs), it takes a lot for a local independent name to gain significant brand recognition, let alone reach a number one status above the rest. But when consistent, quality products meet an honest, culture- and education-driven operation, it’s no surprise that consumers flock to the small fish in a sea of giants.
Amongst hundreds of competing brands, CLS Holdings USA, Inc. (OTCQB: CLSH) (CSE: CLSH), a diversified cannabis company operating as Cannabis Life Sciences, is proud to announce that the company’s branded product division, City Trees, has become Nevada’s best-selling concentrate brand. From January to May 2022, City Trees sold over 190K units of vapes and dabbable concentrates, according to BDS Analytics. The brand also continues its reign as the number one selling tincture brand in both dollars and units sold. City Trees now holds over 6% market share in Nevada, more than any other brand in the state.
Despite Nevada’s cannabis market facing dramatic losses this year, with dollar sales falling 12% from Q4 2021 [Source: BDS Analytics, 2022], City Trees’ revenue continues to grow. From January to May 2022, City Trees’ retail sales totaled $5.22 million, a 16% increase from the same period last year. From June 2021 to June 2022, City Trees achieved a YOY net revenue increase of 43.5%; while Nevada’s cannabis industry as a whole fell 22% from the beginning of last year, according to BDS Analytics.
The City Trees product line includes disposable vapes, cartridges, dab-oil syringes, tinctures, and various live and cured resin concentrates. The Cannabis Life Sciences-owned brand can be found across more than 50 dispensaries in Nevada, both large and small, as well as CLS’s own Oasis Cannabis, a locals’ go-to that is deeply rooted in the Las Vegas community….