![]() ![]() ![]() You mentioned the possibility that some states might not allow online cannabis commerce. We feel that we can turn those into cannabis subscription boxes upon federal legalization, depending on which states allow online sales and which states don’t. We have a massive social media following. Our e-commerce platforms are sophisticated enough that we can turn on and turn off the various states and service our customers through our subscription-box model.ĭaily High Club is seen as a lifestyle brand. states actually allow online cannabis sales. We already have 15,000 monthly subscribers in Daily High Club, which has been growing at 50% annualized, or approximately 4% to 5% per month. We have the opportunity to have this predictable revenue and grow our monthly subscriber base. The biggest thing is the predictable revenue. When High Tide acquired Daily High Club, you said you were considering leveraging its cannabis accessory subscription-box model to launch cannabis subscription boxes in the event of federal legalization. cannabis retail) with approximately 90 stores in Canada.Ĭombine that with our online edge – I don’t even think a multistate operator, or any other cannabis entity in North America, can speak to having such a robust cannabis online ecosystem which High Tide has today. The customer that shops on our platforms today is the exact same customer that spends top dollar on cannabis, and we have data to prove it. That is why we’re setting up a robust online portfolio right now, that’s established and ready to make online cannabis sales when U.S. market very quickly through both our bricks-and-mortar and our online businesses. If cannabis is legalized or decriminalized at the federal level, we’ll be in a position to enter the U.S. We all know that the draft Cannabis Administration and Opportunity Act can be the basis for a comprehensive cannabis bill to pass.īut we are realistic, and we understand that (the measure) faces an uphill battle, especially with the current polarized nature of U.S. High Tide trades as HITI on the Nasdaq exchange and the TSX Venture exchange.īroadly speaking, what’s the strategy behind those acquisitions? MJBizDaily interviewed High Tide CEO Raj Grover to learn more about the growth opportunities he sees south of the 49th parallel. legalizes cannabis at the federal level.īut the retailer also has its eyes on American bricks-and-mortar dispensaries. ![]() The e-commerce acquisitions are part of High Tide’s plan to break into online cannabis sales in the event that the U.S. cannabis e-commerce assets this year, including online head shop and CBD retailer Smoke Cartel and 80% of CBD outlet FabCBD as well as accessories retailers Daily High Club and DankStop. The Calgary, Alberta-based company has spent $42.49 million buying U.S. Publicly traded Canadian cannabis retail chain High Tide has been on an acquisition tear in the United States. ![]()
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