More than a dozen California cities are opening new recreational cannabis licensing opportunities this year, either by embracing the legal marijuana industry for the first time or by increasing the number of available business permits.
California marijuana companies – already facing labor shortages, high taxes and regulatory red tape – are now contending with supply-chain gridlock, forcing many to reassess and revamp procurement strategies as margins shrink.
Emerging technologies and shifts in consumer buying habits since the coronavirus pandemic are shaking up the consumer packaged goods (CPG) sector.
Kentucky-based Cornbread Hemp has included mailers in its marketing strategy for at least two years.
But a recent tweak to the company’s messaging on a promotional postcard brought more attention than it bargained for – so much so, it’s been flooded with orders and incited some worry among Cornbread Hemp’s customer base.
MJBiz has been acquired by Emerald X, a wholly owned subsidiary of Emerald Holding, a New York-based business-to-business event and media company, for $120 million in cash plus potential earnouts.
Online food ordering and delivery company Waitr Holdings signaled it wants to purchase cannabis point-of-sale provider Cova for $90 million in cash and stock.
Fine restaurants employ sommeliers who can tell diners just the right bottle to pair with, say, roast duck or pasta.
Enter the cannabis industry’s newbie equivalent: the “ganjier,” who, like a sommelier, is a certified professional trained to guide retail customers to just the right pre-roll or edible.
Drive-thrus, VIP sales areas, consumption lounges – even separate rooms to buy cannabis growing equipment.
All are features that businesses in the hotly competitive marijuana industry are incorporating into their retail operations to stand out from the crowd and attract customers.
Innovative Industrial Properties (IIP) said it closed on the purchase of an industrial property in Southern California and sealed a long-term lease with cannabis company Gold Flora in a sale-leaseback deal valued at $60 million.
