News Markets Market Round-Up; Branding Challenge - 'What Gets Me High?...

Market Round-Up; Branding Challenge – ‘What Gets Me High? Not ‘Who Makes It’. Organigram, Aurora, Lyphe Group et al

-

Advertising

A THRIVING black market and cloying limits on sales and advertising are restricting cannabis brand recognition in the fast-growing Canadian legal market place.

Bloomberg reports the number one question for Canadian High St retail stores is ‘What is your highest-THC product?’ not ‘What brand is it?

The poll of 3,000 people by the Brightfield Group found that two out of every five respondents said they were aware of Canopy Growth’s Tweed brand, while a further 17 different brands had less than 20% name awareness.

Strict rules on packaging, design and naming were implemented by the Government to curtail youth consumption and recent reports show the black market continues to account for up to half of Canadian cannabis sales.

More Job Losses In Canada

This longevity of illegal cannabis may partially explain the ongoing round of lay-offs at the licensed producers with Organigram Holdings being the latest, announcing it was axing  220 employees – over 25% of its workforce.

Likewise Canopy Growth has announced further job cuts while saying it is looking to the US CBD market and cannabis-infused vapes and drinks, for future growth.

Aurora has announced plan to close five smaller facilities in order to focus production and manufacturing at the company’s larger scale sites, with more jobs to go.

In February, it said it was taking $1bn in write-downs and 500 job losses.

Its co-founder Terry Booth has retired from the board of directors. It went on to say it plans to boost cannabis production at its Nordic facility in Denmark.

UK Supply Deal For Aussie Firm

Meanwhile fellow Canadian firm Khiron Life Sciences announced that it has signed a deal with Red Yellow Red for its Kuida CBD ‘cosmeceutical’ brand to be distributed through four major multinational drug store health and beauty groups in Spain.

The company also announced it had entered into an agreement to sell its medicinal cannabis products to Nimbus Health, a leading German distributor of prescription drugs to pharmacies.

Fellow European-focused Canadian firm Euro Life Brands says it is close to finalising its acquisition of a stake in the Farmhus’ industrial hemp cultivation facility in Germany.

In Greece, Kalacan Hellas is to press ahead with plans to grow and manufacture 831,598 sq ft of medical cannabis products in the region of Kalamata.

In the UK, Australian firm Little Green Pharma has exported over 1,000 units of medicinal cannabis oil to the LYPHE Group’s sister company Astral Health. 

Under the sales agreement, LYPHE will prescribe and dispense Little Green Pharma’s medicinal cannabis products to patients at its clinics.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Europe’s Top Judges Praised For Their ‘Courage’ In Delivering Major Boost To CBD Industry

KANAVAPE lawyer Eveline Van Keymeulen has praised five of Europe’s most senior judges for their courage in rejecting the...

Markets: US Firm Swoops For UK Medical Cannabis Company, EMMAC, Alphagreen, Ananda et al…

AMERICAN firm Halo Labs has snapped up UK medicinal cannabis supplier Canmart in a share-based deal. Kent-based Canmart was one...

Walking In The Light With Carlos Santana And Prohibition Partners

MUSIC legend Carlos Santana rounded-off this year’s second Prohibition Partners Live discussing his new cannabis venture, his relationship with...

European Commission Under Increasing Pressure To Scrap Its Classification Of CBD As A Narcotic Drug Following Court Ruling

THE European Court of Justice has handed the continent’s hemp and CBD industry a major boost - now the...

Advertising

Huge Result For CBD Industry With Europe’s Top Court Saying It Is Not A Narcotic

THE KanaVape ruling is in and it's a massive win for the CBD industry with the ECJ saying that...

KanaVape’s Antonin Cohen Speaks To BusinessCann After Winning His Six-Year CBD Court Battle With Europe

A JOYFUL Antonin Cohen has spoken of his delight - and relief - after successfully winning a court battle...

Must read

Europe’s Top Judges Praised For Their ‘Courage’ In Delivering Major Boost To CBD Industry

KANAVAPE lawyer Eveline Van Keymeulen has praised five of...

Markets: US Firm Swoops For UK Medical Cannabis Company, EMMAC, Alphagreen, Ananda et al…

AMERICAN firm Halo Labs has snapped up UK medicinal...

Advertising

You might also likeRELATED
Recommended to you