One of Canada’s largest newspapers, The Globe and Mail, took a look at the rapidly evolving approaches to marketing cannabis and its ancillary products in an increasingly legal environment. While the article, published in its “Fashion and Beauty” section, has a Canadian bent, the topic certainly transcends borders. On the cannabis front, the author points to the unique go-to-market approach of Hydropothecary as well as the appealing names that Tweed uses for its products. On the ancillary side, she discusses the online marketing of Tetra and the approach that Alan Gertner, son of PharmaCan Capital Chairman Lorne Gertner, takes with his Toronto-based Tokyo Smoke, which mixes “coffee, clothing and cannabis.”
The rise of the new, higher-end cannabis culture has several factors at its root. Aside from emotional connectivity, there’s an increasingly relaxed attitude toward consumption; recent polls leading up to the election revealed that a majority of Canadians are in favour of legalization. This means brands focusing on higher-end plant-related products can heighten their visibility without fear of repercussion, and lure in a sophisticated, design-loving demo. From baby boomers to Gen Y, consumers have more spending money – or at least more refined taste – when it comes to their lifestyle. Owning a Volcano Classic Vaporizer (with a price tag of over $600) has become a higher priority to some than a splashy night out or new designer bag.
This rapid but upscale progress in thinking about smoking and vaping is what spurred Brendan Kennedy and his two business partners to launch Privateer Holdings five years ago. Kennedy is as enthused as these retailers and brands about the seemingly expedited upswing of the cannabis industry. After a hard-fought battle to collect an initial $7-million (U.S.) capital, the second round, which yielded $75-million (U.S.), came much more easily, and Privateer Holdings has taken a lead in what Kennedy describes as a “$40– to $50-billion industry” in the U.S. alone.
Read Odessa Paloma Parker’s “Haute high: How did marijuana go from shadowy activity to style’s next commodity?”: http://www.theglobeandmail.com/life/fashion-and-beauty/haute-high-how-did-cannabis-go-from-shadowy-activity-to-styles-next-commodity/article26924330/