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  1. Home
  2. / Investing
  3. / Cannabis

Aurora Cannabis Inks Online Deal With Shopify

Aurora will use Shopify as its e-commerce engine for medical and recreational cannabis distribution globally.
By STEVE GELSI Jul 17, 2018 | 06:03 PM EDT
Stocks quotes in this article: ACBFF, SHOP, CGC

Aurora Cannabis Inc.  ( ACBFF) became the latest big cannabis name in Canada to ink an online commerce deal with Ottawa-based Shopify Inc. ( SHOP) .
 
Aurora will use Shopify as its e-commerce engine for medical and recreational cannabis distribution globally.
 
Aurora said the efforts will help improve the customer experience for its current medical and future adult customers when retail sales kick off on October 17.
 
The cannabis producer praised Shopify's "rapid and seamless scalability."
 
A spokesperson for Aurora did not provide additional details.
 
The companies declined to disclose the financial terms of the deal.
 
A spokeswoman for Shopify said Canopy Growth ( CGC) and Hydropothecary are already using Shopify to sell to medical patients.
 
"This experience and expertise is crucial to ensure the recreational market engages in a safe, secure, and sustainable way," the Shopify spokeswoman said in an email.

Back in April, the Ontario government agreed to use Shopify's e-commerce platform for online cannabis sales as the province's sole distributor of legal recreational marijuana.
 
"This deal will likely accelerate overall sales growth but at the same time  could disrupt the revenue potential of newly established retail outlets," said Matt Karnes, managing partner of GreenWave Advisors, a New York-based research firm.
 
Merchants use Shopify's software to design, set up and manage their stores on the web, mobile, social media, marketplaces, brick- and-mortar locations, and pop-up shops.
 
Red Bull, Nestle, Rebecca Minkoff, and Kylie Cosmetics are among Shopify's other customers.
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At the time of publication, Gelsi held no position in the securities discussed.

TAGS: Investing | U.S. Equity | Cannabis

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