Marijuana Business Magazine August 2019

Marijuana Business Magazine | August 2019 70 For example, we want to understand how (organic practices are) used in cul- tivation and how the product has been manicured, handled, cured and trimmed. The most important thing is potency, flavor and trichome appeal. At the end of the day, those are the three most critical considerations when it comes to what we’re putting on our shelves. With infused products, it comes down to our buyers’ relationships with vendors. It’s difficult to determine the quality of an extracted product without trying it. Consistency is probably the most critical component when we’re shopping for any kind of extracted product. That’s why integrity, transparency and reputation is more heavily weighted. The last thing you want to bring into your store is extracted product that comes from an extractor that has product that has tested hot or has had product that is inconsistent. How do you select the ‘right’ location for a Diego Pellicer store? The best location often is not available to the cannabis industry today. That will change over time, but we are involved in all site selections where our brand is associated. And the first thing we do is look at what’s best available and dismiss what’s not. The community and demographics are important, but they’re not barriers. If we find an excellent best-available location, the demographics very seldom will become a barrier. We believe our concept will work in any socioeconomic area. There’s no reason our retail experience cannot be offered to all consumers. Is vertical integration important to delivering craft cannabis? Vertical integration is critical for any company in any industry, but it is not essential for the success of Diego Pellicer. We are heavily tilted to retail and our brand. If you’re heavily vertically integrated, it can be too tempting to force your stores to put the product you produced on the shelves—even if it doesn’t meet your standards. Our philosophy is: We want to be vertically integrated to the extent we have some protection on pricing, availability and quality, but not to the extent it impedes our promise to the consumer that we’re going to put the best available product on the shelf. What advice would you share with someone who wants to grow or sell craft cannabis in the legal market? If you are going to venture into craft cannabis, I would encourage you to visit Colorado. The retailers and cultivators in our industry—in Denver and Colorado—are some of the best in the world. They’ll take you through and help you understand what they’re doing and why. The worst mistake you can make is to say to yourself and your consumers, “We’re going to offer craft marijuana,” and then fumble through that process and what craft marijuana is. So, don’t go down that path without consulting someone who has achieved a level of success in cultivation and retail to really understand what craft cannabis entails. In all honestly, we’d be happy to talk to anyone who shared the same enthusiasm we do for improving the industry and the customer experience. This Diego Pellicer retail store in Denver contains more wood fixtures than its Seattle counterpart as well as pressed tin ceiling tiles. Courtesy Photo Craft Cannabis | Retail