This biggest growth opportunity I’ve seen this year has been in the cannabis market. Legalization and its myriad health benefits are beyond encouraging, but as a marketer, the brand-building potential is what gets me most excited.
The early days of the “Green Rush” were all about getting the products right. Then came distribution and getting it in people’s hands (legally or illegally). Now, we’re witnessing a marketing arms race to distinguish between brands. It’s not going to be easy to win.
As my business partner and brother, Alex, told Adweek, we look forward to the day that ‘This Bud’s for you!’ isn’t just about beer. I want to walk into Chipotle and hit a “Burrito Bowl” before the burrito itself.
We laugh, but it’s coming. Coke recently announced that it’s exploring the use of CBD oil. I hear whispers of Diageo doing the same. And we know that Constellation brands (Corona, Modelo) believes: they just placed a massive bet in this space, spending $5 billion (yes, billion) for a piece of Canopy.
So, we’re getting in the game, too, by investing in, advising, and all around obsessing over an amazing company called SLANG WorldWide. They have a global portfolio of cannabis brands including top-selling vapes and edibles (these forms are trending while smoking is declining), and they believe that the future is in strongly branded, quality products that are widely available for purchase. SLANG’s brands and products are currently available in over 1,500 dispensaries across 10 states, Canada, Jamaica, Spain, and Amsterdam. We believe SLANG is the first (and largest) true consumer packaged goods company in this industry. I can’t tell you how excited I am to see this company blossom.
PS: If you’re in Cali this week, I hope to see you at WORLDZ!
PPS: On Saturday morning in Bushwick, I’m speaking at the Open Media Legal Hackathon – NY Node, a day-long event at the Bushwick Generator. This event is co-sponsored by the MIT Media Lab and the Open Music Initiative at the Berklee College of Music. Anyone interested in the legal tech space, Digital Rights Management, Intellectual Property, or entertainment and media in general will find value in this event! The crowd consists of industry leaders, artists and creatives, lawyers, programmers, and students looking to join this international initiative. We will explore and develop creative solutions for everything from the ownership, protection, distribution, and exchange of property rights, to data and digital assets from artists and creators in the music and media industries.
