MJBizMag May-June 2023 - 13

FIVE QUESTIONS
How is The Parent Co. trying
to reach consumers from
diverse communities?
In a new industry, I think it takes
some time to figure out the
sophistication that is required to be
really good marketers. We're in the
infancy stage of that.
We're now bringing in more data
to help us be more strategic in
how we reach and attract different
consumers.
We've taken a really great look
at our portfolio to see where there
are gaps in terms of our coverage of
the consumer. And we have some
initiatives underway that will help
us broaden our appeal to many
demographics: leveraging different
form factors and also leveraging
influencers that may appeal to that
community more than others.
Obviously, our relationship
with Jay Z and Roc Nation is an
important one. We also have a
great relationship with Carlos
Santana. He's incredibly bullish
on the brand and its positioning
to Latin consumers. I believe that
using influencers to reach these
communities will be important.
The Parent Co., like other
cannabis companies, has
initiated cost-cutting measures.
What has that included?
Largely, most of our manufacturing
has been outsourced. We tapped
into Nabis to be our distributor;
they're doing it at a percentage
that I could not do in-house.
That's how we've been able to still
maintain a growth mindset and
profile, because we shed the things
that strategically we just weren't
the best at.
We've made some operational
choices to simplify who we are
and what we do. We can now ship
those dollars into capabilities and
activities that actually separate us
from the rest of the pack.
We've done the tough lifting
in terms of the rightsize of the
organization. Now we're going to
have a little bit of fun.
This interview was edited for length
and clarity.
Chris Casacchia is a
writer for MJBizDaily.
You can reach him
at chris.casacchia@
mjbizdaily.com.
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MJBizMag May-June 2023

Table of Contents for the Digital Edition of MJBizMag May-June 2023

MJBizMag May-June 2023 - 1
MJBizMag May-June 2023 - 2
MJBizMag May-June 2023 - 3
MJBizMag May-June 2023 - 4
MJBizMag May-June 2023 - 5
MJBizMag May-June 2023 - 6
MJBizMag May-June 2023 - 7
MJBizMag May-June 2023 - 8
MJBizMag May-June 2023 - 9
MJBizMag May-June 2023 - 10
MJBizMag May-June 2023 - 11
MJBizMag May-June 2023 - 12
MJBizMag May-June 2023 - 13
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