Though the legal cannabis industry is expected to grow by $50 billion by 2026 and hemp-derived Cannabidiol (CBD) accounted for $190 million in retail sales last year, according to Hemp Business Journal, there are still challenges for cannabis-infused brands and products looking to grow and scale.
Google and Facebook — prime advertising and brand-awareness online spaces — do not allow drug or drug-related promotions on their sites since marijuana is still illegal on the federal level. Even CBD, which is used in the drug Epidiolex and was approved by the FDA in late June, is listed as an unapproved pharmaceutical and supplement under Google’s advertising policy help page.
So when vertically integrated cannabis company MedMen decided to launch its first product lineup of tinctures, cannabis flowers, pre-rolled joints and vaporizers called Statemade this past weekend, it was imperative for the brand to launch the assortment in its own retail stores. “Cannabis products have to be sold in the state where they are sanctioned and licensed, so it made sense to make and sell Statemade ourselves,” said MedMen svp of corporate communications Daniel Yi.
MedMen, which has 19 cannabis facilities in California, Nevada and New York (14 of them also serve as retail shops), unveiled Statemade in its new Las Vegas store, which opened Saturday — the products are grown and manufactured in MedMen Mustang, the company’s neighboring factory in Reno.
Statemade was designed to parallel one’s state of mind: the aforementioned products of tinctures and cannabis flowers were created for specific desired effects, and named accordingly: There’s Joy, Zen, Ebb, One, CBD, Max and Zzz — Max, for instance, is prime for exercise and activities, while Zzz is best used for rest and sleep.
MedMen considered a high-touch retail experience important for Statemade,