The Columbus, Ohio-based cannabis company may be in its infancy, but it is stacked with retail C-suite heavyweights from top brands including Victoria’s Secret, shoe-seller DSW, and American Eagle Outfitters, and led by retail veteran Peter Horvath.
Like other cannabis companies that have gone public by the reverse takeover of mining shells, Green Growth Brands is in the process of listing on the Canadian Securities Exchange through the purchase of Xanthic Biopharma Inc., a former mining shell that owns a cannabidiol (CBD)-infused water company in Oregon. This gives Canadians direct exposure to the significant and rapidly growing U.S. medical and recreational cannabis market—and the opportunity to invest.
But can Green Growth do for medicinal and recreational marijuana what its management team did for angelic lingerie and popular denim?
The short answer is an unequivocal yes, according to Horvath. “When you look at the resumes of the people running the other U.S. retail firms, there’s nobody with any relevant experience,” Horvath told the Financial Post.
“They’re good at raising capital and pumping their story. What we’re looking forward to is delivering the story in a way that they can’t possibly compete.”
When a Cannabis Company is Run by Professional Retailers
Green Growth is addressing the market from a completely different angle than its weed-producing competitors—not as cultivators and growers selling a crop, but as professional retailers.
As the retail cannabis market matures, those companies with expertise in winning over, nurturing, and retaining customers in a competitive marketplace will prevail, Horvath says, putting Green Growth at the forefront. His team has decades of experience patterning customer behavior, anticipating needs and wants, and developing products to suit.
Delivering the story is all about “experiential retail” where the customer doesn’t want to be sold anything. They want to experience something new and appealing. (And they’re willing to pay for that experience time and time again.)
Weed and Wellness Lifestyle for Millennials
The strategy is creating brands that embrace localization and uniqueness, not a national brand with clones across the country. These are brands that go full tilt with interactive experiences in bricks-and-mortar locations and the digital space, engaging and nurturing millennial customers who are poised to be 35% of spending by 2030, according to Forbes. Add to that, a fully 52% of America’s 55 million pot users are millennials, a 2017 survey by Yahoo News and Marist College found.
The company is developing several brands, including 7th Sense for CBD-infused health and beauty products, and CAMP, an in-the-moment lifestyle with “BASE CAMP” promoted as a destination for finding community with a wellness center, grow facility, shopping village and events center.
Plenty of international research shows how millennials more than most appreciate this kind of engagement, which they can then share on Instagram and bring more followers into the tribe. These digital natives research and know how much things cost, so they demand extra special attention if they are going to be convinced to actually buy.
Interested in learning more about Green Growth Brands and its investment opportunity? Download Our Investor Deck at https://www.greengrowthbrands.com/investor-deck.