Last year, Canopy Growth signed a deal with Martha Stewart to make her an adviser to the cannabis company, helping it develop a line of CBD-based products. Now the company is getting ready to start releasing the results of that collaboration over the next few months, and over the time in between there was something that surprised Canopy CEO David Klein.
“I didn’t realize how hands-on Martha Stewart is,” he says. “Our team has meetings with Martha about products, and we have CBD edibles coming in the next few months to the U.S. She’s tasting all of it.”
That partnership with Stewart is a not-so subtle clue into Canopy’s plan to become a card-carrying member of the consumer packaged goods (CPG) corporate club. Like Unilever or Mondelez, except instead of soap and crackers, it’s, y’know, with weed.
When Klein was named Canopy Growth’s top exec last December, that strategy became abundantly clear. He moved into the CEO seat after serving as chief financial officer of Constellation Brands, owner of Corona beer, Kim Crawford wine, and Svedka vodka, which owns a 37% stake in Canopy. His primary assignment was to transform Canopy from what the company calls a “Canadian medical cannabis company” to a “global CPG company.” [Read more at Fast Company]
Your email address will not be published. Required fields are marked *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
Comment *
Notify me of follow-up comments by email.
Notify me of new posts by email.
Δ
Voters will now get to decide whether to legalize recreational marijuana in a state that has a well-established medical pot marketplace. When the Florida Supreme Court earlier this month approved a November referendum on…
The legal cannabis industry is thriving in the U.S., reaching its highest-ever number of jobs and sales, a new report shows. Vangst, a cannabis industry job platform, found that at…
Maine is the newest frontier for the illicit marijuana trade, with potentially hundreds of suspected unlicensed grow houses operating in the state, a CBS News investigation has found. It’s part…
Ten years ago this month, Iowa policymakers made it legal to use cannabis for certain medical treatment, marking the start of what would eventually become Iowa’s existing medical cannabidiol program.…