British soccer star David Beckham invested $338,000 in the CBD company Cellular Goods in 2021. With the growth of the public company, that investment is now worth $1.3 million. Beckman acquired shares at a discounted price ($1.37) while other were paying five times that per share. He owns 5% of the company.
However, all is not well at Cellular. New CEO Anna Chokina says the company's business has been “severely constrained” by Google, Facebook and Instagram advertising bans related to cannabis products.
According to The Times, "Cellular 'continues to lobby' both Google and Meta, the owner of Facebook and Instagram, to change their policies. Because of the advertising ban, Cellular has had to 'overhaul' its marketing strategy, which led to the 'deferment of the full marketing launch.'"
For instance, due to supply-chain issues, the release of Cellular's CBD-infused Face Serum has been delayed. In additon, their Cannabinoid After Shaving Moisturizer failed to meet “quality specifications."
Cellular's CBD line includes skincare (After Shaving Moisturizer, Face Oil) and ingestibles (Capsules, Oral Drops, Oral Spray). Cellular imports cannabinoids from California; a company in Somerset manufactures their products.
Chokina, who previously worked at Pepsico and Proctor & Gamble, remains upbeat about Celluar's propspects:
“I've reviewed the company’s long-term strategy and strengthened its marketing plans in readiness for our big sales push, which is ready to go live imminently. It will take time for results of the actions we have implemented to become evident.”
Beckham retired in 2013 after a 20-year professional career during which he won titles in four countries. He's president and co-owner of the MLS team, Inter Miami CF.
Beckham's married to Victoria Adams (a.k.a. Posh Spice).