Strictly speaking, innovating in cannabis represents the improvement of a function of production or the introduction of a new material that creates value for markets. Cannabis innovation can be seen along the cannabis supply chain. From new branding methods and B2B/retail associations to new cultivation techniques that lower production costs or new terpene combinations with therapeutic properties, innovation is often the result of competition and cooperation among cannabis brands.
Brands give visibility to the industry and normalize the plant, but what are these cannabis brands? We compiled a list of cannabis brands that are spearheading the expansion of the industry in pop culture, destigmatizing the plant and offering value to stakeholders and investors.
On September 12, Benzinga will be celebrating some of the following cannabis brands, nominated for a Benzinga Cannabis Award. Meet some of these cannabis brands and a slew of cannabis execs, entrepreneurs, CEOs, investors, etc. at the upcoming Benzinga Cannabis Capital Conference, Sept. 13-14 in Chicago. Get your tickets HERE and reserve your spot at the Palmer House Hotel HERE.
Find out next how some of the most important cannabis brands in the world are innovating cannabis and contributing to the emergence of a new vertical.
The Most Innovative Cannabis Brands
Cookies
Created by the acclaimed rapper Berner, Cookies has become the most popular cannabis brand in the world. Under Berner’s command as CEO, Cookies went global. From the Bay Area to the EU, Israel, and Thailand, the light blue logo became an icon of the cannabis industry in the 21st century. Clear lines, light colors, and worldwide brand consistency have turned the Cookies into a pop icon. In an exclusive interview with Benzinga's head of content Javier Hasse, Berner talked about the growth of Cookies and its path to becoming one of the few cannabis brands to reach global recognition. The key, says Berner, was focusing on the genetics as “catapults” for the brand, working on their menu recognition, networking with the best professionals, and empowering the Cookie’s team to do what they do best, “let people you know do their thing.”
“We embraced a different model than a lot of other cannabis companies. Instead of putting all the bread [money] up and doing it fully integrated, we wanted to take advantage and network and work with some of the best operators around the world. We've been able to travel the world and find the best-in-class cultivation partners and store operators that share the same vision as us. We want to make sure that we put the customers first and focus on our genetics, our menus, and our quality,” Berner said. “If you look at my music career, I do a lot of collaborative albums so I always believe in empowering people.”
Wana Brands
Wana was founded in 2010 in Colorado. The company sales skyrocket soon thereafter as adult-use cannabis became legal and expanded to numerous states. Late in 2021, Wana Brands was acquired by Canopy Growth (NASDAQ:CGC). "The growth Wana has experienced over the past decade provides a compelling framework for profitably scaling a cannabis company and is a case study in the importance of innovation," Nancy Whiteman, co-founder, and CEO of Wana Brands said. "Creating unique and interesting products is a priority at Wana. As we move closer to federal legalization in the United States, the insights gained from this approach remain relevant for other brands as they navigate the U.S. cannabis market."
A native of Colorado, Whiteman was instrumental in securing the company’s position as a top international brand now available in more than 3,000 dispensaries across the U.S. and Canada. In addition, the Wana Brands Foundation supports a wide variety of nonprofits, including the League of Women Voters (founded in 1920 by leaders of the women's suffrage movement) to bring voter registration drives to cannabis dispensaries across the U.S., making more than 50 stops across the country, leading up to the November midterm elections. Wana is visiting dispensaries to offer education about voter registration status and how to register to vote.
Lowell Farms
During Benzinga’s Cannabis Capital Conference in Miami on April 20 and 21, George Allen, chairman of the board at Lowell Farms, explained how the firm became profitable in a market as challenging as California. “The consumer is telling us that the way to win, is to give them more for less. The consumer will tell you where you want to go.”
Lowell Farms is focused on identifying, following, and understanding consumers, their needs, likes, and dislikes. “We have to lure the daily smokers into our store and the way to do that is to give them value [for their money] they can't refuse," Allen said. “Probably some of the best cannabis brands are going to come out of California, but you have to be solvent to do that. We are seeing a lot of opportunities for folks who come to our low-cost production [model] on steroids for California, and we had the opportunity to bring them on, cut costs and penetrate a retail base, making them profitable.”
Stiiizy
Many companies in the cannabis space claim the #1 spot. But there can only be one real leader. However, in June 2022 a report from BDSA Insights revealed which one it is. "Based on POS data from BDSA, Stiiizy is the #1 brand nationally, despite lower national distribution than its MSO peers," reads the report. The brand also holds the #1 in the vapor category country-wide.
In its home state of California, Stiiizy has a "dominant branded share position" across all categories, assures BDSA. The brand boasts +197% retail sales vs. #2 competitor; +250% retail sales vs. #3 competitor; and ~36% market share in vapor category.
Commenting on the findings, Stiiizy CEO Jon Avidor told Benzinga, "STIIIZY’s accelerating sales growth in the face of increased market competition underscores the importance of staying in tune with cannabis culture and establishing an everyday lifestyle brand. Not only does STIIIZY hold a dominant branded share position in California, but it is also the number one selling cannabis brand across the United States despite more limited national distribution than its MSO peers."
PAX
PAX, a leading global cannabis brand, announced the launch of PAX Diamonds pods for the PAX Era, in June. This is the latest cannabis product from PAX, known for its history of design, innovation, and unique consumer offerings. Available across California at launch, this first-of-its-kind product brings the experience and potency of concentrates to a convenient, easy-to-use form factor at an accessible price. The award-winning PAX Era platform uses patented low heat technology, to ensure clean and efficient use from start to finish.
“We’re excited to be accelerating our cannabis product offerings, leveraging insight from our consumers to bring them groundbreaking products that better fit their needs and lifestyles,” said Steven Jung, COO at PAX. “In this case, that means the potency of concentrates and the high-quality PAX is known for, but at an accessible price point, more comparable to what you’d see in the distillate market. We’re proud to be able to deliver this through extensive innovation, both in terms of product formulation and our industry-leading technology platform.”
Miss Grass
Miss Grass offers sustainably grown and terpene-rich cannabis. The brand works closely with cultivators to choose strains that contain the same terpene and cannabinoid profiles batch-to-batch in California, Nevada, and Massachusetts. In March 2022, Miss Grass announced a multi-state expansion partnership with AWH that brought its Minis product line to Massachusetts.
The Illinois launch follows Miss Grass' recent purposeful re-brand intended to empower consumers to make confident and informed decisions to enhance their well-being using cannabis products. Mixing informative packaging and color psychology, the re-brand educates consumers and equips them with the resources to consume consciously.
HUUE
After years in development, HUUE developed Plant-Based Vapes – a first-of-its-kind innovation that provides the full spectrum benefits of cannabis flower, fresh-pressed into compact and convenient pucks. In 2021, the firm partnered with Grenco Science, Inc., an industry leader in cannabis vaporization devices. Each HUUE is pre-dosed into 8 full-spectrum uses, giving an immediate cannabis experience that can be micro-dosed or fully consumed as needed, a perfect match to your own preference or tolerance without worry.
Women in Cannabis Expo
The Women in Cannabis Expo features vendors, speaker panels, and presenters from diverse women who have been in the cannabis industry. The Women in Cannabis Expo was established to connect women from around the world who are seeking a career change or who are working within the cannabis industry.
Raw Garden
Raw Garden, an Element 7’s brand manufactures and distributes pure cannabis extracts. The firm utilizes a state-of-the-art cryogenic freezing technique to capture and lock in the whole essence of the Cannabis plant while it is still fresh and alive before it can dry out and lose any of its natural flavors and aromas. Then, technicians at the extraction facility remove cannabis oil from the frozen plants to create the patented Raw Garden Live Resin and Refined Live Resin products. Raw Garden’s Clean Green certification program has put out award-winning cannabis oils since 2015. Raw Garden continues to lead the industry in innovative agricultural practices. The Clean Green Certification program ensures that only organic and natural fertilizers, soil amendments, and pest control methods are used on the farm and that no artificial ingredients, flavors, or thinners are ever used in the processing.
Old Pal
Old Pal is a cannabis brand that focuses on keeping things simple. Taking a step away from the premium shelves, the company sells cannabis flowers and vape cartridges with a simple concept: “It’s just weed, man.” co-founder and CEO Rusty Wilenkin said. He started the company with business partner Jason Osni in June 2018. The duo aims to dominate the affordable markets that most competitors are leaving behind. “We're specifically focused on building a lifestyle brand in the cannabis industry, bringing communities together, and pushing for the normalization of the plant and its use. We are more than a product brand at Old Pal; we are moving and getting customers on board and stoked everywhere and every way they interact with our brand,” Wilenkin told Benzinga. The company identifies itself as an ode to simpler times, “when weed was just weed and joints were passed around to old pals and new ones.”
Flower By Edie Parker
Founded in 2010 in New York City by Brett Heyman, Edie Parker sprang from Brett’s love of mid-century style. Inspired by acrylic bags made in America in the 1950s and 1960s. Since the brand’s inception, Edie Parker has used the highest quality materials to create original pieces that speak for themselves. Enter Flower is a line of colorful collectibles for friends in high places. The first brand to fully merge the worlds of fashion and flower, Edie Parker Flower offers fresh ways to entertain at home or light up a night out. Flower products are made of hemp.
