Snoop Dogg is launching his own line of edibles and concentrates in Colorado. We see a few lessons/trends from this announcement.
#1. Musicians, especially those that have always evangelized pot smoking or been closely involved in the cannabis culture, see the growth of the market and the fact it is becoming not only legal but also lucrative. As such, they can leverage their credibility and own brand and endorse or develop their own product line(s). Snoop is putting his name on his own line (LEAFS by SNOOP) while Xzibit is endorsing and marketing a product developed and produced by a third party under a separate name (LoL Taffy). Expect more and more musicians (and not just rappers) to enter the fray (full disclosure: our team has vast experience and contacts in the music world as marketers, label owners, etc., and therefore access to insider information).
#2. The level of professionalism exhibited in the LEAFS by SNOOP packaging and branding is very high. And the design and brand are very approachable, premium and clean, eschewing old-school ganja cliches and colors. We expect this to be a major trend as marijuana companies need to expand their appeal and target consumers. As the Mashable article reports:
In January, Mashable asked Snoop Dogg at a panel in Las Vegas if brands should take the plunge into the world of marijuana now that some states allow the use of recreational marijuana and the attitude towards pot appears to be changing in the mainstream. “Definitely,” said he said at the time, “the brands are going to have to step in and do what they do.”
#3. Interestingly the products in the LEAFS by SNOOP line will be edibles and concentrates. This speaks to the growth of the segment as users move away from just smoking. It also speaks to the need to brand products in the category: buds are harder to brand as they are so closely related to the grower and are raw products that are hard to differentiate. Edibles and concentrates, on the other hand, are processed/manufactured and therefore can be differentiated and branded much more easily.
#4. You know that pot is going mainstream (and legal) when Mashable has a whole article on Snoop’s newest line of concentrates and edibles…
By: JP Clement