This Article Was Originally Released by the St. Louis Business Journal on August 25, 2022. By Diana Barr Associate Editor
CBD Kratom, a St. Louis-based retailer of cannabidiol, or CBD, products, has expanded with a new St. Louis-area location.
The retailer opened a new shop at 1560 Veterans Memorial Parkway in St. Charles last week, featuring a section for affiliate company Mr. Nice Guy, a St. Louis-exclusive brand of smoke shops.
The Mr. Nice Guy operation relocated to the space from its own previous store at 1550 Veterans Memorial Parkway, where it had been located since December 2017, a spokeswoman said. Mr. Nice Guy's old location was about 2,500 square feet and the new shop combined with CBD Kratom is about 3,000 square feet, officials said.
The company paid about $250,000 to build-out the new shop, according to the spokeswoman.
The new CBD Kratom featuring Mr. Nice Guy has about seven employees and is still hiring, she said.
The 1560 Veterans Memorial Parkway building is owned by an entity affiliated with CBD Kratom. The company's principals "recognized this was a great area for development and purchased the land next to the original Mr. Nice Guy and built the brand new shopping center in 2020," the spokeswoman told the Business Journal in a statement.
"When you walk through the door, you'll be introduced to a store experience that feels welcoming and intentional," Ocean Cohen, CBD Kratom's director of retail growth and development, said in a press release. "The new store was designed with our customers in mind, flowing through the space to include an area that specifically highlights the Mr. Nice Guy brand."
Mr. Nice Guy offers vaporizers, pipes, hookahs, rolling papers and electronic cigarettes, among other products.
CBD Kratom carries over 600 cannabis products including CBD, a non-intoxicating marijuana extract used to treat a variety of conditions; Delta-8 THC; CBG; and other minor cannabinoids. The CBD products come in the form of edibles, topical creams, oils, skin care and pet treats. The retailer also carries 50 strains of kratom, which is an herbal supplement, and kratom specialty products.
CBD Kratom's president, David Palatnik, and his wife, CBD Kratom Vice President Dafna Revah, opened their first CBD Kratom store in 2016 in Chicago. The brand now has 54 stores in six cities: Chicago, Dallas, Houston, New York, Philadelphia and St. Louis. A 55th store is slated to open in New York City in September. The company says it is the nation's largest privately owned cannabis and kratom retail chain. According to Business Journal research, it is the largest cannabis firm in St. Louis, based on its 194 local employees.