Inside Fiore, the cannabis company combining the market potential of two crucial states – Financial Post

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Jim Gordon

Now, you mentioned that revenues in your California dispensary are up 15 per cent since early 2020. Why is this the case?

Erik Anderson

Well in California, like Nevada, thankfully, cannabis was deemed to be an essential service. Our retail dispensary in Desert Hot Springs has more of a therapeutic focus. We increased our marketing to let local wellness and therapeutic organizations know that we were still open. We implemented a delivery service, a curbside pickup service, as well as a drive-through express window. And we also ramped up our marketing by giving the store there a little bit of a facelift in terms of just, you know, a nice splash of paint on the outside, but also did some billboard advertising as well as some Google and Weedmaps advertising as well, too. So all those marketing and additional ancillary delivery methods, we were able to increase our revenues by about 15 per cent since April.

Jim Gordon

And finally, Erik, Fiore is already a multi-state operator in the U.S. Why is vertical integration in each state important to the company?

Erik Anderson

Well, the interesting thing in both California and Nevada is that you’re able to sole-source your supply chain. If you’re a cultivator and a producer, you’re able to transport your finished products directly to your own retail store and you’re able to capture the margins both at the wholesale level and at the retail distribution level. So they’re both excellent markets. We find that Las Vegas, we think, is probably the best market in the world for these products. The ability to deliver to ourselves without any government commissaries or intermediaries, it’s a really strong advantage to us and we’re looking forward to being vertically integrated in both states within the next couple

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