EXCLUSIVE: ‘It’s All About Relationships’ Say Marijuana Industry Experts Sharing Strategies For Entering New Markets
“What we learned in Washington was that it really starts with the product. So you need to have a phenomenal product,” said Eli Korer, CEO of DABSTRACT, an award winning cannabis concentrate brand founded in the Pacific Northwest and now operating in several US markets.
He told the crowd gathered last week at the Benzinga Cannabis Capital Conference in Chicago that his company chose an asset-light business model because it allows it to expand to become a national brand without incurring the capital expenditures and operating expenses. This means the company finds a partner in a state with strong cultivation, manufacturing, and distribution, and DABSTRACT provides significant support on the processing, branding, and marketing side. “So, we essentially complement where they may be lacking in their businesses.”
Korer alongside four other industry experts, participated in the conference panel, “Cultivating Success in the Heartland: Midwest vs. West Coast Dynamics,” moderated by Annie Davis, VP of marketing at Airo Brands, a multi-state cannabis company focused on proprietary, cutting-edge vapor delivery platforms and high-quality oils. Other industry professionals on this panel were Chris Dynan, CFO of the Philadelphia-based vertically integrated operator Ethos Cannabis; Bradon Noonan, CEO of the multi-state cannabis brand Ogeez!; and Nick Rinella, CEO of the Missouri-based vertically integrated cannabis company Hippos Cannabis.