EXCLUSIVE: Cannabis Leaders Focus On ‘Top Shelf’ Quality By Balancing Innovation, Branding, IP Protection
The cannabis industry continues to evolve, and a significant challenge for businesses is how to deliver top-shelf quality products without driving up costs. This issue is tightly linked to concerns over gross profit margins (GPM), manufacturing processes, intellectual property (IP), and the potential of introducing denomination of origin standards, much like those used in the wine industry.
During the recent Benzinga Cannabis Capital Conference, a panel of experts addressed these themes, providing valuable insights into maintaining product quality while optimizing profitability.
The Consistency Challenge
One of the major issues discussed was the difficulty of maintaining consistency in cannabis products. Tassa Saldi, co-founder and CEO of TUMI Genomics, explained that achieving consistent quality across regions can be a real struggle due to biological differences and agronomical complexities of the plant. She pointed out how difficult it is for customers to find the same strain from one location to another, even when the product carries the same name.
Building on this point, Shareef El-Sissi, founder of Terpene Belt, highlighted that the industry is still lagging in adopting the consumer packaged goods …