Business of Drinks 22: How THC Drinks Brand Cann Grew to $36 Million in Sales — with CEO Jake Bullock - Business of Drinks
Are cannabis drinks on your radar?
If not, they probably should be. Right now, THC-infused beverages are just a sliver of the $15.8 billion cannabis category, but the segment has grown more than 40% since 2021, and keeps expanding.
As the THC drinks segment grows, those dollars are going to be pulling from other categories — namely alcohol.
To learn more about this segment, I decided to bring on one of the most influential innovators in the cannabis drinks space, Jake Bullock. He’s co-founder and CEO of Cann. It’s a low-dose THC drinks brand that launched just 4 years ago, in 2019. And if you haven’t heard of it, you might be surprised to learn that it’s already doing some $36 million in sales, selling upwards of 9 million cans a year.
In this episode, Jake shares:
- How he convinced skeptical dispensaries to take a chance on low-dose canned tonics when most of the competitors were formulated at 2x to 5x the THC dosage.
- How Cann’s positioning as a “better-for-you” alternative to alcohol drove collaborations with celebrities and influencers, growing Cann’s audience quickly.
- Where Cann is directly competing with alcohol in 30+ markets via DTC channels, and on liquor store shelves in Minnesota, Connecticut, and other states.
- How Cann funded its rapid growth to 9 million cans annually in just 4 years.
- How beer distributors are making up for declines in their portfolios category by replacing open truck space with THC brands.
- Who’s buying Cann (the audience breadth may surprise you!), and how the company reaches potential consumers.
And that’s just the beginning. Give a listen for more.
About Erica Duecy, host:
Erica Duecy is host of Business of Drinks, and one of the drinks industry’s most accomplished digital and content strategists. She has built publishing and marketing programs for Drizly, VinePair, SevenFifty, and other hospitality and drinks tech companies. She also has led digital editorial teams at Architectural Digest and Saveur magazines. Her content, podcast, and video programs have won more than 40 digital and editorial awards. She is a WSET Advanced-certified wine and spirits communicator, and author of the cocktail book Storied Sips (Random House), about the real-life stories behind the world’s most famous cocktails.
To learn more about Erica Duecy:
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