Retail Cannabis Pathways in the US
Canopy Growth announced a new CBD vape on Tuesday that marks another way Canadian companies are forging retail cannabis pathways in the US.
Dubbed Whisl, the vape comes in three variations: Tune-In Pod for focus, Intermission Pod for daytime relaxation, and Fade-Out Pod for before bed.
Andy Lytwynec, Vice President, Global Vape Business at Canopy Growth, called these variations “mood management”.
“With the launch of Whisl, we’re excited to provide consumers with a modern and effective way to harness the power of CBD and control how they feel from morning to night,” he said. “At Canopy we call this concept ‘mood management’, and innovative products like Whisl are bringing this concept to life through a custom pod system.
“With three distinct CBD formulations, Whisl delivers the ability to achieve a specific feeling, such as focus or relaxing throughout the day; and unwinding for bed.”
The vapes will only be available in the US, and are made from hemp-derived CBD – also sourced from US hemp producers and presumably using US-based processors. However, the kicker is that they will be sold exclusively through its website and, for the first three months, through 3,000 Circle K convenience stores in the US.
(Incidentally, Canopy Growth made the news based on its commissioned research into the vape compound phytol and its association with lung damage.)
How Canadian Companies are Forging Retail Cannabis Pathways Ahead of US Legalization – LPC
What Forbes and most other media outlets don’t mention is that Circle K in the US is owned by Quebec-based Couche Tard. In fact Circle K has been connected to a number of retail cannabis pathways.
In February 2021, Fire & Flower – which is partly owned by Couche Tard – announced it had struck a licensing deal with American Acres Managers. The move specifically set up the cannabis retailer to open stores if/when cannabis is legalized in the United States. Circle K also opened two Fire & Flower stores next to its convenience store locations in Alberta in July 2020.
The partnership with Canopy Growth then is perhaps a surprise. But it does show how several Canadian companies are forging retail cannabis pathways ahead of US cannabis legalization in similar ways. Canopy quietly launched its “First & Free” CBD products in the US in 2019. It also partnered with Martha Stewart to develop a line of pet CBD products, and then products for people. The US legalized hemp in late 2018.
Other Canadian players in the US market include High Tide, which announced it is readying for US cannabis expansion. Seth Rogen’s Houseplant recently announced it was temporarily leaving the Canadian market, essentially becoming a US company after its split with Canopy Growth.
What’s Next for Retail Cannabis Pathways? – LPC
So what’s next for Canadian companies looking to create their own retail cannabis pathways in the US? Chances are, it will be another large company – the scale so far is huge. It would have to be to compete with US-based companies. But it seems that US cannabis legalization isn’t coming anytime soon, which gives lots of time to set up in the US.
Read the Full Forbes Story Here
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