14 Jun A new way to consume Jimi Hendrix
Think about Jimi Hendrix. What comes to mind? Great music? Guitar aficionado?
Getting high? Of course.
Well now, thanks to a new licensing agreement, opportunities abound to consume Hendrix in a whole new fashion.
Nutritional High, a Toronto producer and distributor of cannabis-based edibles and oils, announced this week it has entered into a partnership with Purple Haze Properties to manufacture and distribute marijuana and hemp oil-infused products in the United States and Canada. The term of the agreement is for five years, with a renewal option for an additional five years.
“We are pleased to be working with Nutritional High on Jimi’s entrance into the marijuana category,” said Andrew Pitsicalis, CEO of Purple Haze. “Nutritional High brings sophisticated manufacturing and marketing expertise and this will enable them to provide high quality products for Jimi’s fans everywhere. We look forward to building a leading presence in this rapidly-growing category, both as licensors and as shareholders.”
Nutritional High CEO David Posner said the agreement is merely the first step in what could be a branding bonanza for his company.
“We were looking for a celebrity name brand to blend with our product line,” Posner said from Toronto. “We have spoken to a variety of people with the idea and an associate of Purple Haze came through for us.”
Among the wares that Nutritional High expects to produce and sell under the name “Edibles Experience” are a variety of gummy bears, hard candies and drinkable health and energy products. The company also secured non-exclusive rights to manufacture and distribute certain apparel and accessories.
The branding possibilities may not be endless, but they are obvious. For instance, the company plans to sell a “Purple Haze” line of THC-based products, as well as a line of CBD-based, non-psychoactive health products called, appropriately enough, “Stone Free.”
Posner said he initially isn’t so much worried about numbers and total sales as establishing a foothold in various markets around North America.
“We’re not really looking for a specific projected sales number,” Posner said. “We understand that we’re going into this kind of blind. We really just want to start capturing a percentage of the market in each of the states where we will be selling. I’m excited by the state-by-state presence that we’re starting to build in states like Colorado and Nevada and California.
“You know last year Colorado did $700 million in sales, and half of that was in oils.”
With that kind of potential, and with the cannabis consumables industry still very much in its infancy with seemingly unlimited opportunity for growth and investment, why stop at only one celebrity, and a dead one at that?
According to Posner, Nutritional High’s game plan is to partner with other well-known stars in the music and movie worlds.
“We have been talking to many other representatives of other celebrities,” he said. “We would love to partner with Wiz Khalifa or Snoop Dog, and of course the Grateful Dead would be obvious. We’ve also spoken with representatives of Seth Rogen and a couple of other actors, so we’ll see where all that goes.”