Marijuana Business Magazine March 2020

Marijuana Business Magazine | March 2020 46 E stablishing a nationally recognized brand in the crowded—and federally illegal—marijuana market isn’t easy, but there are steps cannabis companies can take to ensure consumers are aware of their products when they visit an MJ retailer. Two companies from Colorado—the first state to begin legal sales of adult-use cannabis—are among those that have built brands and successfully expanded into other states. Denver-based infused products company Binske and Boul- der-based edibles and vape maker Wana Brands are well on the way to national brand recognition. Steps the companies have taken to en- sure their brands are top of mind include: • Ensuring products are consistent from state to state. • Entering licensing agreements for their products in new states. • Educating budtenders about their products. Praetorian Global, parent company of the Binske brand, recently announced its expansion into Canada through a part- nership with Edmonton, Alberta-based Aurora Cannabis. Binske products will be available to 82 million people at more than 1,000 marijuana retailers across Canada and in 12 states, potentially reaching 100% of the Canadian popula- tion and 52% of the U.S. population. “When you have access to that num- ber of consumers, you’re in a unique position,” Praetorian founder and CEO Jake Pasternack said. “The phrase that’s thrown around is ‘planned expansion,’ but that doesn’t mean much. The planned expansion is not the same as having a signed deal.” E x p a n d i n g Tips for making your products memorable from one state to the next By Margaret Jackson Brand Awareness Binskeʼs artwork makes it stand out from competitorsʼ products. Courtesy Photo