And from a retailer perspective, the economics of Charlotte’s Web with its super premium price position and the ability to now with the MLB partnership, better activate around point of sale and point-of-purchase activations in store. That’s a key advantage for us in maintaining our relative price point relative to the competition rather than following.
Operator: Your next question comes from Scott Fortune from ROTH MKM.
Scott Fortune : Looking back now — congrats on, obviously, the capital infusion with BAT agreement. But I just want to get a sense now that you’ve had a chance to work with BAT a little bit on the broader botanical wellness platform, can you provide a little more color on the kind of strategic initiatives there and moving forward with BAT?
Jacques Tortoroli : Look, BAT, obviously, is a strategic partner of the company and a commitment, obviously, through the convertible debt instrument that they invested in, in November. We don’t have much more color to add than what Jared mentioned in his remarks, Scott. So we’ll leave it there.
Scott Fortune : Okay. And then a follow-up. I know you’ve put a lot of new distribution agreements in place and good job of adding to that and more feet on the street, as you said, obviously, is still a challenging market with MLB and we’ll focus initiatives online. Just kind of step us through kind of where the initiatives are primarily for you on the DTC side and when do you expect some of these activations and the prominent positioning that you have now in the stores that kind of start to flow through or to help the top line. Are we looking at kind of more mid to second half growth that all these initiatives get in place? Just kind of a timing from that standpoint?
Jacques Tortoroli : Yes, great series of questions there. Look, again, as Jessica mentioned, we’re not going to be providing revenue guidance for the year. What I will say is that as we go through the year, the partnerships that we struck in 2022 and other conversations that are happening and will continue over the course of the year. Ultimately, those new partnerships, new market and retail and industry vertical coverages that they provide us. It will, over time, increase the ability to effectuate our position and how we show up in retail. I’ll give you one example. We’ve talked about increasing our presence in new industry verticals. And in Q1, we did a partnership with the Wynn and Encore Hotel Group in Las Vegas. We kicked off by selling our topicals in their Wynn and Encore stores and that success is leading to an expansion with them in Q2 and beyond.
And so we’re excited about that as evidence, again, of our ability to penetrate new verticals with some of these new distribution partners and directly as well. In terms of DTC, as I mentioned in my remarks, it’s all about growing the top of the funnel because we know when we bring people into our ecosystem and they go through their journey from awareness purchase to repeat purchasing the loyalty and to the subscribers that we keep them, right? And so for us, our conversion rates, our AOVs are very strong. And it’s really just about bringing more people into our brand world. And that’s where, again, MLP comes in by amplifying the amount of marketing and otherwise sort of reach that we can do on our own, both paid and earned. And so we’re excited about the reasons we did the partnership.
We’re excited about the commitment and the collaboration and the support of MLB. And so — and we’re excited about seeing how this year plays out with our lead activate in their key Jewel Events, particularly as we get into the back half of the year and into the fall around their Playoffs and the World Series, ultimately. But with the ability to have a new brand, a lifestyle brand in the marketplace that should be well received, we believe, by consumers.
