James Storie-Pugh, Founder of Mellow talks to European Business Magazine industry wide regula on to further legi mise our industry. In the UK, legal CBD products must contain ‘no trace’ of the psychoac ve compound tetrahydrocannabinol (THC), guidance which causes confusion as there is no standard tes ng regime to meet this requirement. For comparison, in Germany the threshold is 0.2% and in Switzerland it’s 1%. As part of our onboarding process, we make sure the brands we curate as part of the mellow marketplace adhere to the highest level of quality control and industry tes ng. Were there any other legal issues in the UK? There are a few obstacles to overcome. The latest legisla on classes CBD as a novel food and all products containing CBD which are consumed by humans must be approved to be placed on the market by 31 March 2021. CBD products for use by animals is a grey legal area in the UK. CBD for use in pets can currently only be prescribed by veterinarians and CBD pet products should be approved by the Veterinary Medicine Directorate. There are also restric ons on CBD adver sing. Classificaons can differ depending on whether they are food, food supplement, novel food or medicine and so unsupported health claims have to be avoided. Google also bans ads with any CBD-related keywords, and Facebook/Instagram do not allow paid adver sing of CBD products. So marketing plans need to take into considera on what’s possible. What is mellow’s USP? How did mellow start? Mellow is a fully managed, curated online marketplace for global CBD (cannabidiol) brands. Myself and Neil (co-founder) set up mellow earlier this year when we realised the huge poten al for the growing CBD market in the UK. We wanted to provide a pla orm where consumers could have the confidence to make smart and confident purchasing decisions and enjoy the poten al benefits of CBD including pain relief and help with sleep concerns, and also connect premium CBD brands with a global audience. We’re also hoping to with expand into other (nonCBD) sectors that promote wellness as a key part of a posi ve healthy lifestyle. Is the pla orm legal in the UK? Our marketplace pla orm is 100% legal in the UK. The legali es surrounding CBD itself are complex and are at infant stage – something we are really mo vated to educate consumers and investors on, and encourage more 16 europeanbusinessmagazine.com
Our key USP is the technology offered to our premium brands, integra ng tools that allow them to successfully sell, reach a global consumer base, and grow their demand. These tools include a fully func oning mul -merchant pay-out capability, bespoke merchant onboarding, scalable business intelligence and seller data analysis tools, and mul -currency banking and pay-out solu ons, a par cularly significant differen ator in our sector. Our own personal experience also sets us apart from our compe on; myself and Neil have a combined forty years of experience working with and around marketplaces. Is mellow the first CBD marketplace in Europe? Our marketplace is the first in the UK to offer consumers’ access to global brands that have been fully ve ed to ensure their quality and that otherwise wouldn’t be easily accessible. It is also unique – for example, contrary to popular belief, Amazon does not sell CBD products, allowing us to serve a growing consumer demand that the marketplace giant cannot.
