- Rappi is the largest home multi-Vertical app in Latin America, which received a USD 1 Billion investment from Softbank Group
Corp. and Softbank Vision Fund, reaching unicorn status in 2019.
Rappi operates in Brazil,
Colombia, Mexico, Argentina, Chile, Costa
Rica, Uruguay, Ecuador and Peru, which together represent a population of
over 600 million people.
- Rappi's multi-vertical app provides digital banking and payment
services, in addition to everything from food to pharmaceutical
products, consumer package goods and courier services, with an
average of more than 10 million active users monthly, according to
research firm Apptopia.
- Expansive agreement starts with a 6-month exclusive
distribution between Rappi and Khiron to introduce and distribute
the Company's CPG product portfolio across Latin America through the Rappi platform.
- With the potential for future expansion, the partnership allows
Khiron to introduce its CBD product lines in every country where
Rappi has an established presence, leveraging a rapidly growing
trend toward online sales and last-mile delivery. The agreement is
expected to reduce overall product launch and, logistics costs,
increasing availability and exposure to millions of consumers, and
improving margins for both parties.
- The KuidaTM in-app store within Rappi was launched
in Colombia in May 2020. The companies intend to expand
distribution through Rappi´s fast growing consumer base to
Uruguay and Costa Rica, where Kuida has been approved, and
other countries such as Brazil,
Mexico and Chile, subject to regulatory approvals.
TORONTO, Sept. 3, 2020 /CNW/ - Khiron Life Sciences
Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQX:
KHRNF), (Frankfurt: A2JMZC), a
vertically integrated cannabis leader with core operations in
Latin America and Europe, announced today 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.
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.
About Khiron Life Sciences Corp.
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.
With a focused regional strategy and patient oriented
approach, the Company combines global scientific expertise,
agricultural advantages, branded product market entrance
experience and education to drive prescription and brand
loyalty to address priority medical conditions such as chronic
pain, epilepsy, depression and anxiety in the Latin American
market of over 620 million people. The Company is led by Co-founder
and Chief Executive Officer, Alvaro
Torres, together with an experienced executive team,
and a knowledgeable Board of Directors that includes former
President of Mexico, Vicente Fox.
Visit Khiron online at investors.khiron.ca and on Instagram
@khironlife.
Cautionary Notes
Forward-Looking Statements
This press release may contain certain "forward-looking
information" and "forward-looking statements" within the meaning of
applicable securities legislation. All information contained herein
that is not historical in nature may constitute forward-looking
information. Khiron undertakes no obligation to comment analyses,
expectations or statements made by third-parties in respect of
Khiron, its securities, or financial or operating results (as
applicable). Although Khiron believes that the expectations
reflected in forward-looking statements in this press release are
reasonable, such forward-looking statement has been based on
expectations, factors and assumptions concerning future events
which may prove to be inaccurate and are subject to numerous risks
and uncertainties, certain of which are beyond Khiron's control,
including the risk factors discussed in Khiron's Annual Information
Form which is available on Khiron's SEDAR profile
at www.sedar.com. The forward-looking information contained in
this press release is expressly qualified by this cautionary
statement and are made as of the date hereof. Khiron disclaims any
intention and has no obligation or responsibility, except as
required by law, to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this press
release.
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SOURCE Khiron Life Sciences Corp.