(CNBC) — The owner of Nine West shoes and Juicy Couture makeup has signed a deal with Canadian marijuana company Tilray looking at developing cannabis-infused foot creams, cosmetics and other consumer products.
Authentic Brands Group agreed to pay Tilray $100 million and up to $250 million in cash and stock, depending on the success of the venture, to help the retailer create and distribute consumer cannabis products as its preferred supplier, the companies announced Tuesday.
The deal also gives Tilray access to a wide consumer base and massive global distribution network.
