Legal Weed Is Creating A Booming Market For Luxury Cannabis
There’s no doubt about it, the cannabis industry is booming. Legal marijuana is creating big opportunities for savvy businessmen and women interested in catering to those looking for an alternative pot experience, perhaps of the more high-end kind. Analysts have noted that the luxury cannabis industry, in particular, is the fastest growing segment of the marijuana industry, especially since California legalized weed on January 1.
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So, who is cashing in on this boom, exactly? CNBC recently looked at some of the top-selling luxury products on the market and the brands that sell them. Here’s what they found.
The 'Hermes' of Pot
First up is Beboe, a California-based luxury cannabis line that some have called the "Hermes of Marijuana." The company was founded by celebrity tattoo artist Scott Campbell and long-time fashion executive Clement Kwan, and sell products like designer vaporizer pens, edible pastilles, and other curios expected to roll out this year. Edible pastilles retail for $25, while their pre-filled vaporizer retail for $60 each.
It’s no secret that Kiva is a favorite among the cannabis community. The company creates cannabis-infused confections that range from chocolate covered espresso beans, medicated mints, and cannabis chocolate bars. The company has a dozen edible offerings and hundreds of dispensaries in California, Arizona, Nevada, and Illinois — and nabbed a "best edible" award at the San Francisco and Los Angeles High Times Cannabis Cup in 2013.
Kiva products are sold in stores in Arizona, Nevada, California, and Illinois. While prices can vary, the candy bars range from $10-$20, while the Petra mints are about $15; the chocolate covered espresso beans and blueberries between $18-$20. You can also get them delivered.
Défoncé Chocolatier is another company to keep an eye on when it comes to luxury cannabis candy. Specializes in cannabis chocolate bars, the company’s products range from a White Chocolate Matcha Bar to a Coffee or Mint Flavor. The bars contain about 90 milligrams of THC but can be broken up into 5 mg servings for consumers looking for easy microdoses. You can nab one of these bars at $20-$30 in California only.
Skincare for Days
Herb Essntls markets a luxury skincare line derived from marijuana. Their products are THC-free, but all contain cannabis oils. From face creams to lip balms, this company has it all and their products can be found all over the word. These skincare items don’t come cheap – expect to pay anything from $12 to $60 for one of this luxury cannabis company’s products.