When it comes to celebrity cannabis brands, celebrities like Gwyneth Paltrow & Seth Rogen are launching & backing cannabis brands as legalization & innovation increases.
Over the past few years, Travis Barker, Gwyneth Paltrow, Bella Thorne, Whitney Port and others have been betting big on the green rush launching their own brands or fronting and investing in companies. The result: a landscape that resembles the beauty and fashion spaces with“The number-one reason why is completely changed legal landscape,” said Stacy Jones, founder and chief executive officer of Hollywood Branded, a Los Angeles-based creative agency focused on branding pop culture.
While there seems to be stand-alone dispensaries opening on every corner and new brands popping up all the time, some of the biggest names have struggled. MedMen, one of the most visible retail operations, present in several states with its Apple store-like interiors, has shuttered all but two of its stores, and its stock received a cease-trade order, plunging from a $3 billion valuation.
“During COVID-19 I started to dabble in cannabis,” Port said, adding that she began sharing her experience on social media. “We’re all looking for healthy ways to relax.…A lot of people following were curious about it, had a lot of questions about how much I was taking, what kind I was taking, what was I taking it for. I was noticing how curious women were about this.
Cann, a THC-infused beverage brand, is a prime example of a microdosable format that celebrities are betting big on — in fact, the brand has more than 40 celebrities on its cap table, including Gwyneth Paltrow and Rosario Dawson.“They cut across all different types of entertainment: sports, music, media.…We took, from the beginning, an approach of we want an army,” said Cann cofounder and CEO Jake Bullock. “We didn’t want to be confined to one person or another.
Cann, amongst other brands in the category, has strategically partnered with celebrities who may not automatically seem aligned with weed, but that’s exactly what the brand needs to evolve the conversation around THC and position themselves as an alcohol substitute. “It’s kind of the wild west right now,” Jones said. “It’s not ‘Hire a celebrity for your cannabis brand and it will become an overnight sensation.'”
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