The Ranch Cos., founded by Mike Tyson and Rob Hickman, has launched a new line of CBD-enhanced beverages under the DWiiNK name.
DWiiNK beverages contain 10mg of CBD and are available in four flavors: original, pineapple orange, watermelon and mixed berry. They initially will be available at convenience stores in Los Angeles.
“DWiiNK has been in development for the past 18 months, and it has been well worth the wait,” said Steven Krane, president of El Segundo, California-based DWiiNK. “It has been described as the best-tasting and highest-quality CBD beverage available.”
Mike Tyson has been outspoken about the quality of the cannabis he puts his name on. Since he founded The Ranch Companies, every single product developed has lived up to his standard of excellence.
DWiiNK will be priced at $3.99 for a 16.9-oz. bottle to encourage mass distribution at retail.
DWiiNK’s launch comes amidst a spike in interest in functional CBD-infused beverages. Cowen Research confirmed this in its recent report, “Cowen’s Collective View of CBD.” Released in February 2019, it highlights current CBD usage trends and predicted growth. According to the report, the CBD beverage category is expected to grow to a $900 million opportunity within two years.
And, of all those surveyed, 20 percent of CBD users consume beverages. For 2019, Cowen is forecasting a notable acceleration in growth, with revenues more than doubling to $600 million. Assuming growth slows in 2020 (to 50 percent), it is possible revenues will approach the $1 billion mark.
“DWiiNK is an exciting new addition to The Ranch’s growing portfolio of branded products,” says Hickman. “We expect it to be the dominant CBD beverage as a result of its incredible quality and affordable pricing.”