TORONTO, Oct. 15, 2019 /CNW/ - PRESS RELEASE - SLANG Worldwide Inc., a global cannabis consumer packaged goods company with a portfolio of brands distributed across 2,600 stores in 12 U.S. states, has announced that it has entered into a strategic partnership with Cookies, a California-based cannabis and lifestyle brand, to bring Cookies' products to the Colorado market.
Pursuant to the partnership with Cookies, SLANG has signed an exclusive licensing and distribution agreement in connection with the proposed sale of pre-packaged flower products and concentrates for the Colorado market. A SLANG Network partner will cultivate the Cookies strains, and SLANG will market and sell the products through its statewide distribution channels. Colorado aficionados will appreciate the official Cookies cultivars coming to their state, including next-generation hybrids of some of the most popular strains in the world.
SLANG and Cookies will also work together to evaluate additional opportunities in other markets where SLANG operates.
SLANG has deep roots in Colorado, with its branded products having been sold in the state since 2012. The company's O.penVAPE brand is the best-selling cannabis brand in Colorado's history, while its District Edibles gummies, Bakked concentrates and Pressies are currently among the state's top-ranked cannabis products in their categories, according to BDS Analytics. SLANG-branded products are sold in the majority of leading retailers across Colorado.
The dried flower and concentrate products licensed from Cookies will complement SLANG's existing product portfolio in the Colorado market and provide for additional opportunities to provide customers with high quality, branded cannabis experiences. Dried flower represented approximately 40 percent of the cannabis market in Colorado, which totaled US$1.2 billion of sales in the first eight months of 2019, according to BDS Analytics. The company's entry into the branded dried flower market will further diversify its business.
"Cannabis culture is driven by passionate advocates and connoisseurs like Berner and the Cookies family. Rooted in a love of premium flower genetics, and evangelized by a loyal following, the Cookies brand lives among limited company," said SLANG CEO Peter Miller. "At SLANG, we are proud to bring the Cookies brand to Colorado, and further extend our portfolio in flower and concentrates—at 40 percent of the Colorado cannabis market, the flower category represents a massive opportunity for SLANG to increase overall cannabis dollar share."
"SLANG is an ideal partner for our brand in Colorado. They have a strong presence throughout the state, and an innovative marketing approach that should resonate with our target customers. As one of the earliest markets to legalize cannabis, Colorado has a population of sophisticated and discerning consumers, and we think they will respond well to the Cookies brand," said Berner, founder and CEO of Cookies.
SLANG expects the first Cookies products to be available for sale in Colorado in early 2020.