Hey Headsetters, we're back with a new interview episode, this time with Verano's George Archos and Aaron Miles. We cover their wholesale strategy, a unique approach to loyalty and visions for the future. Listen closely and you might actually catch the date that Schedule 3 is scheduled to happen (not really).

In this conversation, George Archos and Aaron Miles from Verano discuss their company's performance in Q1 and their position in the cannabis industry. They talk about Verano's footprint, retail composition, and brands. They also discuss their focus on customer loyalty and the launch of their exclusive membership program, the Cabbage Club. The conversation touches on the growth of Verano's wholesale business, particularly in markets like New Jersey and Illinois. They also discuss the challenges and opportunities of opening doors in different markets and the importance of data-driven decision-making. The conversation concludes with a discussion about Verano's plans for expansion in Ohio and Florida. Verano Holdings is preparing for the launch of adult-use cannabis in Ohio and expects to see significant demand in both their stores and the wholesale market.

Takeaways

• Verano has a sizable footprint in the cannabis industry and is celebrating its 10th year anniversary.
• Verano focuses on high-quality products and has a range of brands catering to different market segments.
• Verano places a strong emphasis on customer loyalty and has launched the exclusive membership program, the Cabbage Club.
• Verano has seen growth in its wholesale business, particularly in markets like New Jersey and Illinois.
• Opening doors in different markets can be challenging, but Verano has been successful by building relationships and offering unique, innovative products.
• Verano is planning for expansion in Ohio and Florida, with expectations of significant sales growth in these markets. Verano Holdings is preparing for the launch of adult-use cannabis in Ohio and expects significant demand in both their stores and the wholesale market.
• Verano focuses on creating their own brands rather than acquiring existing ones, but they may consider acquisitions in the future.
• They are cautious about entering the hospitality aspect of the cannabis business, such as music festivals and lounges, due to regulatory hurdles and the difficulty of making the economics work.
• Verano is excited about the potential benefits of rescheduling cannabis, including being treated like a normal business, accessing banking services, and improving their marketing capabilities.
• They anticipate better polling numbers in Florida and potential news on Pennsylvania.
• Verano is well-positioned for future opportunities and is focused on being prepared for inclusion in the capital markets.

Keywords

Verano, Q1 performance, cannabis industry, footprint, retail composition, brands, customer loyalty, Cabbage Club, wholesale growth, opening doors, data-driven decision-making, expansion, Verano Holdings, adult-use cannabis, Ohio, wholesale market, product offerings, acquisitions, hospitality aspect, regulatory hurdles, rescheduling cannabis, banking services, marketing capabilities, Florida, Pennsylvania, future opportunities, capital markets

Headset

In this conversation, Cy and Emily discuss the recent announcement by the DEA that they will recommend rescheduling cannabis to Schedule III. They explore the potential implications of this decision, including its impact on the capital markets, banking reform, and the ongoing Commerce Clause case. They also touch on the significance of this shift in the federal government's view of cannabis and the challenges that lie ahead in the implementation process. Overall, they express cautious optimism about the future of cannabis legalization in the United States.

Takeaways

• The DEA's recommendation to reschedule cannabis to Schedule III represents a significant shift in the federal government's view of cannabis and acknowledges its potential positive benefits.
• While rescheduling alone does not immediately change the criminality around cannabis or allow for uplisting and banking reform, it sets a strong foundation for future progress.
• The rescheduling decision may pave the way for discussions on capital markets and banking reform, as well as potential memos from the DOJ and the impact of the Commerce Clause case.
• The implementation process and potential challenges, including legal battles and administrative procedures, will play a crucial role in determining the actual impact of rescheduling.
• Despite the uncertainties and challenges, there is a sense of cautious optimism about the future of cannabis legalization in the United States.

Chapters

00:00 Introduction and Overview
03:02 DEA Recommends Rescheduling Cannabis to Schedule III
09:26 The Trauma and Optimism of Cannabis Legalization
13:49 The Implications of Rescheduling
16:13 The Commerce Clause Case and Fair Application of the CSA

Keywords

DEA, rescheduling, cannabis, Schedule III, capital markets, banking reform, Commerce Clause case, implementation process, federal government, legalization

Headset

Watch out Florida Man, the new headline is going to be about the big numbers that Florida will be putting up in a post adult-use legalized cannabis world. Join Cy Scott (CEO of Headset) and Emily Paxia (Managing Partner of Poseidon) discuss the exciting news that adult-use cannabis legalization has been approved for the November 2024 ballot in Florida - how we got here and what it means.

Links:

• Florida Amendment 3 Ballot [Ballotopedia]
• Florida Supreme Court approves ballot measure to legalize recreational marijuana [ Politico]

Headset