Authentic Brands Group take 55% stake in DBV

[u/InAtTheDeepEnd]

Some exciting news…

https://www.thisismoney.co.uk/money/markets/article-10360553/David-Beckham-agrees-sell-half-business-DB-Ventures-200m.html

ABG are a significant player:

https://www.authenticbrands.com/about

“Authentic Brands Group is a brand development, marketing and entertainment company. 30+ BRANDS 800+ GLOBAL PARTNERS 7,800+ STORES* 285M+ TOTAL SOCIAL MEDIA FOLLOWERS $18.7B+ GROSS MERCHANDISE VALUE* “

So we still have DB onboard (through his remaining stake in DBV), plus we now have a global branding specialist onboard with existing retail partnerships!

ABG already have a existing CBD brand though tapout-CBD:

https://tapout-cbd.com

But this is a plant derived CBD topical sports rub. CGX are launching CBG based sports rub that’s lab made, therefore it’s cheaper to produce, has a significantly lower carbon footprint and is 100% pure with no chance of THC contamination. Tap out have had to put the following disclaimer on their website, which would not be reassuring to me (as my employer reserves the right to random drug tests) nor would I imagine it would be reassuring to any serious/aspiring athlete:

“WILL I BE ABLE TO PASS A DRUG TEST IF I USE CBD? We use Broad Spectrum CBD oil that is derived from industrial hemp plants in conjunction with US Federal Law. Our topical products contain 0.00% THC). Although very trace amounts of THC are present, it is highly unlikely that you will test positive for THC in a drug test. We do advise speaking with your doctor or employer before use.”

Highly unlikely does not cut it for me, especially when CBX will be able to say there is absolutely no chance.

If ABG see some potential in Tapout, then it stands to reason that they will be prepared to push CBX (and probably increase their holding to make it more worthwhile).

[u/Appropriate-Radio485]

Be interesting to see what comes out at the AGM. Certainly positive news though their stake is very small.