Celebrities are adding a new dimension to the cannabis craze.
In recent years, the likes of Travis Barker, Gwyneth Paltrow, Bella Thorne and Whitney Port have bet on the green rush by launching their own brands and investing in companies. The result is a landscape resembling a beauty and fashion space, complete with card-carrying celebrity ambassadors. But why now?
“The main reason is that [the] The legal landscape has completely changed,” said Stacey Jones, founder and CEO of Hollywood Branded, a Los Angeles-based creative agency focused on pop culture branding.
Currently, recreational marijuana is legal in 24 states and Washington, D.C., but the situation is rapidly changing.
“The stigma around cannabis is now much lower and a whole new market is opening up for celebrities to say, 'Hey, here's another way that you might actually be able to leverage your brand,'” Jones continued. Ta.
However, the cannabis industry is challenged given that it remains illegal at the federal level, constantly changing regulations, high licensing and operating costs, and competition from illegal businesses at lower prices.
While independent pharmacies are opening on every street corner and new brands seem to be popping up all the time, some of the big players are struggling. MedMen, one of the most visible retailers with an Apple Store-like interior and product line in multiple states, has closed all but two stores, its stock has been ordered to cease trading, and its stock has been ordered to cease trading. The company's valuation has fallen sharply from $3 billion. .
Still, demographic trends (mostly Gen Z and Alpha are quitting alcohol and seeking mood-enhancing alternatives) bode well for the future of up-and-coming businesses (especially as these younger generations are starting to move forward at the federal level). (If only we could force a movement to change the status of cannabis).
Cannabis sales in New York are expected to exceed $150 million in 2023, according to the Bureau of Cannabis Control.
“We're seeing tremendous market growth right now with a variety of cannabis brands,” Jones said.
Along with this, many celebrities are launching their own brands, as well as OG stoners who have been in the field for years, such as Willie Nelson and Cheech & Chong.
In February, Travis Barker launched Barker Canna Co., which sells edibles, pre-rolls and e-cigarettes. Wiz Khalifa has Khalifa Kush, and Bella Thorne's Forbidden Flowers sells different strains for different moods. Following in the footsteps of her best friend Snoop Dogg, Martha Stewart has shown her passion for plants through her line of CBD-infused wellness gummies. Seth Rogen, seemingly synonymous with weed, has her own brand, Houseplant, which sells smoking supplies and household items.
Whitney Port in High Confectionery
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Some companies are entering this category by partnering with existing brands. For example, former “The Hills” star Whitney Port recently joined microdosable edibles brand The High Confectionery as creative director.
“During COVID-19, I started dabbling with cannabis,” Port said, adding that she started sharing her experiences on social media. “We're all looking for healthy ways to relax. … A lot of people who follow are interested in this and I'm wondering how much I'm taking and what kind.” I asked a lot of questions about what they were taking and what they were taking it for.''I noticed how interested the women were in this. ”
Jones said women are the primary target audience for these types of microdosable brands that serve as alcohol substitutes. As part of The High Confectionary, Port's goal is to reach this female market and demystify cannabis.
“I'm trying [build] While engaging the community and educating myself on my own socials, I also contributed to the company's growth in terms of finding other strategic partners and investors and thinking about creative collaborations,” said Port. Told.
Similarly, rolling paper company OCB recently tapped Rogen to create a co-branded product line with Houseplant due to its consumer awareness in the space.
Houseplants created in collaboration with Seth Rogen and OCB.
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“We were looking for someone who could truly represent the culture and someone that consumers felt they could trust,” said Becky Rohr, chief revenue officer of Republic Brands, which owns OCB. . “He's funny, and rolling the paper can be a little boring. … Seth says something like, 'That's the right paper for my weed.' It's such a good paper that you don't need much weed. ”
While celebrities across the board are paying attention to cannabis, one trend in particular stands out. It's microdosing. Many experts say this may be due to the sober curiosity movement, with more people choosing small amounts of cannabis instead of alcohol.
Cann, a THC-infused beverage brand, is a prime example of the microdosable format that celebrities are betting big on. In fact, the brand's cap table features more than 40 of his celebrities, including Gwyneth Paltrow and Rosario Dawson.
Kan
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“They span all types of entertainment, including sports, music and media. … We took the approach from the beginning that we wanted an army,” said Cann Co-Founder and CEO ) said Jake Block. “We didn't want to be limited to one person.”
The brand is endorsed by many celebrities including Kate Hudson, Alison Brie, and Kris Jenner, and considering their lifestyles, it makes perfect sense why they would enter this category. Block explained.
“If you're up by the 6 a.m. call time, you won't get a hangover. If you have to sing every night, there's no point in getting a hangover,” he said. “What we found is that these early celebrities were familiar with THC and had some kind of relationship with THC. …They said, 'My body is the product of my business. , so it's very important to think carefully about what you put in there.''
Among other brands in this category, Cann has strategically partnered with celebrities who don't seem to automatically align with cannabis, but it's precisely because the brand is evolving the conversation around THC and its use as an alcohol substitute. This is necessary to establish your position.
“Most brands out there already have all these 'cannabis geek' type celebrities,” Jones said. “[Brands] We have to look beyond that. There are only a handful of “Seth” and this and that who align themselves with the cannabis lifestyle. ”
Additionally, experts say celebrities can help promote cannabis brands because of the high advertising regulations in the cannabis industry. Still, as meta-regulation continues to evolve in this space as well, celebrities' posts may be removed.
“It's like the Wild West right now,” Jones said. “It's not like, 'Hire a celebrity for your cannabis brand and it'll become an overnight sensation.'”
Still, the brand says celebrities are helping to further break down prejudice. In addition to being completely new, “High Hopes,” a Jimmy Kimmel-produced reality series about a Hollywood-based dispensary, debuts on Hulu this weekend, bringing weed into the pop culture conversation in a different way. is.
Experts say innovation and increased legalization in the category are opening up new opportunities and are likely to lead to more celebrity advancement.
“Part of the evolution on this is because cannabis product lines are so innovative,” she said. “You don't have to be someone to be a bong hitter… Now there's cannabis in beverages, candy, all kinds of edibles, and it's very similar to other consumer product lines.”
