California Offers $ 50,000 “Bridge Loan” to Small Businesses, Including Cannabis Industry
Denver-based Medicine Man Technologies announced last week that the company was renaming itself Schwazze to align the company with its new vision and strategic direction after a period of very intense growth last year.
When Colorado Governor Jared Polis enacted Law HB19-1090 last year, allowing cannabis licensees to belong to publicly traded companies, Schwazze began expanding his cannabis supply chain at through a series of strategic acquisitions.
The company kicked off 2019 with a deal in January to acquire MedPharm Holdings LLC, an intellectual property development and holding company focused on cannabis research and product development, and announced a few days later its intention to acquire Medicine Man Denver, which operates an indoor grow facility and four Colorado dispensaries.
In June, Schwazze announced its acquisition of outdoor grower Los Sueños Farms, as well as Purplebees, a manufacturer and dispensary of infused products. The following month, the company announced plans to acquire Dabble Extracts, a Colorado-based cannabis concentrate company.
RELATED: Medicine Man Technologies to Acquire Dabble Extracts as Part of Plan to Access Entire Cannabis Supply Chain
Schwazze closed 2019 with leadership changes, co-founder Andy Williams became vice president and chairman of the company, and Justin Dye of Dye Capital was named executive chairman and CEO.
Now the company has tied it all together with a new brand name which, according to Shane Sampson, Director of Marketing and Merchandising, better reflects the company’s goal of creating a vibrant and innovative brand culture and identity to support its current and future brand house as it continues. to grow.
Here, Sampson shares an overview of the new brand, as well as Schwazze’s goals for 2020.
Melissa Schiller: Why did the company decide to change its brand and why was the name “Schwazze” chosen?
Shane Sampson: We have been [researching and] looking at our brand since last year. As we build the business, it’s really a house brand approach. We are a growing company. The brand [reflects] our Three A Light methodology. “Schwazzing” is a technique that was created by our head of culture, Josh Haupt. It is the pruning of the living organism to create growth. We thought, from an innovation standpoint and an unprecedented point of view, that this should be our hallmark as we move into the next generation, the next age of cannabis.
The teams have worked a lot on the brand’s architecture, our internal message, our external message [and] how it fits into our omnichannel approach. And we are making this deployment in this unprecedented time of COVID. I think this was something we wanted to point out not only to our associates, but [also to] our consumers and investors, that we work hard behind the scenes to serve our customers day in and day out in our retail establishments. We continue to do transactions in a different way. I’m not sure anyone knows the new normal is, [but] we are working on the brand and continue to move the company forward. We are excited to build our brand house. [The company rebrand] Was the first [step in] Doing this.
The other thing we’ve worked on a lot is our mission, purpose, and vision statements, which back all of this as well. When building a brand you have to start with these things, and our mission is truly to provide the most trusted products and experience with a focus on the well-being and happiness of our employees, customers and customers. of the planet. We have reflected this in our organization. Our goal is to recognize the full potential of cannabis, and we strive to prove its ability to improve the human condition. [We also have a] vision to create the world’s most admired cannabis company.
MS: How did the overall company rebranding process go? What were the key stages in the launch of this new brand?
SS: You do research first [and] a series of internal and external interviews. We had small working groups on this; after doing our external and internal research, we had small working groups that began to bring it to life. There were daily videoconferences or face-to-face meetings as early as October.
You start with, what is your vision? What is your mission and your goal? Then it’s about developing the core values: what it means to you and how it relates to the brand. How is it going to come to life, and how is it going to become real and resonate with everyone? Also, how do you start telling this story internally?
It was a daily process. After research and [building] the direction we were going, then we had to go implement it, execute it, and tell the story.
MS: How do you want this brand to be received in the industry, and how do you want it to resonate with consumers?
SS: If you look at our core values, we are first and foremost a customer-centric company. Everything is extremely consumer-oriented. We want to be known for our commitment to compliance, doing what’s right, [and] make sure we live up to that expectation. We are an innovative company and we are always thinking about the best way to do things. It is listening, learning, researching and developing ways to continuously improve, [and] make sure we support our team. The most important thing for us is our customers and being very customer-centric, but at the same time we make sure we are a winning team. This is how we would like to be known to represent our core values.
MS: How important is branding in the cannabis industry? Why is it necessary to have a strong brand?
SS: We are in the early days of branding [in the cannabis industry], and it’s really making sure that you create brands that do what you say you’re going to do. You live up to your promise to your client, your client. I think if you do that you are going to resonate as a brand. How are brands and products positioned? What are you going to stand up for and be known for? I think that’s what makes this industry so exciting. We absolutely love the growth on this and what it does for our consumers, which could be of indulgence [or] better health and well-being. Again, we’re in the early days of these things around our brand house, and we look forward to the future of building it all.
MS: What are some of the company’s short and long term goals for the future?
SS: We continue to grow. I Think The Secret To Growth Is A Repeatable Colorado Playbook [to] conclude our transactions that we have advertised from seed to sale. We are extremely focused on the state of Colorado. We love the opportunities there. We are extremely excited about all the capabilities and elements of the business, from retail to manufacturing to culture, and all under one roof. We work on repeatable processes to improve ourselves every day. These are the immediate things we are working on for 2020.
So where do we go from there? We have said openly that we want to continue to grow, and we will look for opportunities to do so, first in-state, then out-of-state. We’ll make sure we do what’s right, [that] we are living up to the expectations we have set for ourselves and we will be making some very good and wise decisions regarding growth potential.
Behind the scenes it’s been an interesting time, but the team of people worked really, really hard. I wouldn’t say it’s business as usual, it’s like it’s unusual, but we will continue to serve our clients, associates and external communities and stakeholders.
Editor’s Note: This interview has been edited for style, length and clarity.