Jay-Z’s Cannabis Brand Goes Up In Smoke: The Rise And Fall Of Monogram From $50 Joints To Massive Losses
Jay-Z’s cannabis brand, Monogram, launched in 2020 amid glowing media coverage in GQ, Vogue, and Vanity Fair soon followed. However, four years later, Monogram seems to have vanished from the market.
Despite its luxury positioning, or perhaps because of it, which featured $50 “OG Handrolls” and premium packaging, Monogram’s website lists nine retailers, eight in California and one in Arizona, yet none feature the brand’s products online. The brand’s parent company, The Parent Company (TPCO), seems to be faring no better, noted SF Gate which first reported this story.
Monogram, the result of a merger of three cannabis companies that went public via a special-purpose acquisition company (SPAC), seemed to be in an unbeatable position, with board member Michael Aurbach touting its massive cash reserves and Jay-Z serving as the chief visionary officer. What could …