Khiron Enters Exclusive Partnership with RAPPI, Latin America’s Largest Home Multi-Vertical App Platform
Khiron Life Sciences Corp. (TSXV: KHRN), (OTCQX: KHRNF), (Frankfurt: A2JMZC), is a vertically integrated cannabis leader with core operations in Latin America and Europe. The company announces that it has entered into an exclusive distribution agreement with Rappi SAS, the leading Latin American last-mile multi-vertical platform that is backed with a USD 1 billion investment from Softbank Group Corp., and Softbank Vision Fund. The expansive agreement comprises a 6-month exclusive distribution partnership between Rappi and Khiron to introduce and distribute the Company’s CPG product portfolio across Latin America through the Rappi platform, starting with KuidaTM, the Company’s branded CBD skincare product line, with the potential to build on the partnership over time.
Khiron Life Sciences Corp. is the dominant integrated medical cannabis company in Latin America. Khiron has core operations in Latin America, along with activity in North America and Europe, and is licensed in Colombia for the cultivation, production, domestic distribution, and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis. The Company delivers best in class regulatory compliance, is fully authorized to manufacture and fill prescriptions for high- and low-THC medical cannabis in Colombia and has the first approved line of CBD cosmetic products on shelf in Colombia, and available in the United States and the United Kingdom.
Beyond a standard vendor agreement, this expanded partnership introduces the Company’s CBD-based Wellbeing products to millions of Rappi users across Latin America through its sophisticated technology and advanced, customer-centric marketing strategies. With the Kuida store already launched on Rappi in May 2020 for the Colombian market, distribution will be expanded to Uruguay and Costa Rica, where Kuida has been recently approved. The Company also intends to introduce its product line through Rappi’s fast growing consumer base to countries such as Brazil, Mexico, Ecuador and Chile, subject to regulatory approvals.
Colombia’s Rappi is the market leading multi-vertical application in Latin America with a presence in Brazil, Colombia, Mexico, Argentina, Chile, Ecuador, Costa Rica, Uruguay and Peru. Through its platform, customers buy products and services and receive home delivery across multiple categories, including, medical, health, grocery, restaurants, pharmacies, beverage and professional services among others. In addition, the application has a virtual wallet, RappiPayTM, where users can make P2P transfers and payments. Rappi has an average of more than 10 million active users monthly, according to research firm Apptopia, providing deliveries for almost 100,000 businesses in LatAm, including over 13 million deliveries in Colombia alone.
“Rappi is the delivery brand that everyone in Latin America knows and uses daily. The partnership with Rappi reduces our product launch and logistics costs and transforms our availability and exposure to millions of customers across the region. Rappi is the last-mile delivery brand that will help us bring Khiron product to more customers than ever before. We are proud to establish this first-of-its-kind partnership between these two companies, which are both industry leaders in LatAm, and were both founded by Colombians,” comments Alvaro Torres, Khiron CEO and director.
“As the market for consumer cannabis products and services globalizes it is a natural fit for us to partner with Khiron to meet our app users´ needs. Like us, they are a recognized leader in the region, and an innovator in bringing quality products to market, “comments Simon Borrero, Rappi SAS CEO.