Inside Kiva's House of Brands: Building a National Edible Empire ft Kristi Palmer
Jul 6, 2023
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Kristi Palmer, Co-Founder of Kiva Confections, discusses targeting consumers via brands and unique profiles, state-by-state expansion, edible challenges & opportunities. They delve into creating edible products, evolving brand and product offerings, product quality and innovation, scaling equipment, low-dose products, consumer conversion, early days and overcoming challenges. Connect with the speakers and purchase Kiva products through their website, Instagram, and LinkedIn.
A house of brands strategy allows consumers to easily adopt other products within the brand family, expanding the consumer base and reaching a wider audience in the edible market.
Expanding into new states in the cannabis industry involves navigating complex regulations, distribution models, supply chains, and pricing challenges.
The future of cannabis edibles may see increased focus on experiential consumption spaces, while complete convergence with traditional food brands is unlikely due to regulatory and reputational risks.
Deep dives
Kiva Confections: From Backyard Cultivation to Innovative Edibles
Kiva Confections founder, Christy Palmer, shares the journey of Kiva Confections, a California-based cannabis edibles company. Christy discusses how she and her husband started growing cannabis in their backyard, eventually pivoting to focus on edibles when they saw the need for high-quality, reliable options in the market. She emphasizes the importance of taste and quality, and how Kiva has always aimed to make edibles more approachable and predictable. Christy also discusses the evolution of Kiva's product line, from chocolate bars to gummies, highlighting their focus on innovation and their commitment to meeting the needs of different consumer preferences. Additionally, she shares insights on the challenges and opportunities in the cannabis industry, as well as lessons learned along the way.
The Challenges of Expanding into New States and the Complexities of the Cannabis Supply Chain
Christy Palmer discusses the complexities of expanding Kiva Confections into new states and navigating different regulations and supply chains. She highlights the challenges of entering markets with varying regulations and distribution models, such as vertically integrated systems and limitations on wholesale markets. Christy shares the importance of finding partnerships and aligning interests with local operators in each state. She also emphasizes the significant role of supply chain management in the cannabis industry and the need to adapt to changing market conditions. Christy provides insights into the difficulties of scaling production and addressing pricing challenges, especially in highly regulated markets.
Lessons Learned and Advice for Entrepreneurs in the Cannabis Industry
Reflecting on her journey in the cannabis industry, Christy Palmer offers valuable lessons and advice to aspiring entrepreneurs. She emphasizes the importance of following one's gut and staying true to one's vision, even in the face of challenges and setbacks. Christy also shares the significance of building a strong team and maintaining a positive company culture. She encourages entrepreneurs to embrace innovation, take risks, and be open to learning from mistakes. Lastly, Christy highlights the need for patience and perseverance in the ever-evolving cannabis industry, reinforcing the belief that passion and determination are key to long-term success.
The Future of Cannabis Edibles and Potential Industry Convergence
Christy Palmer shares her perspective on the future of cannabis edibles and potential industry convergence. While she acknowledges the possibility of collaborations or partnerships between traditional food brands and cannabis companies, she believes that the differences between the two markets make complete convergence unlikely. Christy explains that the reasons for consuming food and cannabis are distinct, and the regulatory and reputational risks associated with combining them may deter major food brands from fully entering the cannabis market. However, she predicts an increased focus on experiential consumption spaces, such as consumption lounges, where cannabis-infused products can be enjoyed in a unique setting. Christy concludes by highlighting the industry's unpredictability and the potential for unexpected developments.
Insights into the Early Days of Kiva Confections and Lessons Learned
Christy Palmer provides insights into the early days of Kiva Confections and the lessons learned along the way. She recalls the challenges they faced, including navigating regulatory changes and law enforcement actions. Christy shares how they relied on their instincts and perseverance to overcome various obstacles, and the importance of staying resilient in the face of uncertainty. She describes some of the mistakes they made early on, such as underestimating the impact of edible consumption and recreational regulations. Christy emphasizes the significance of continuous learning, adaptability, and not being afraid to make mistakes in the dynamic cannabis industry.
A house of brands is a strategy where each brand has its own identity, representing a different customer profile, need, and messaging. Implementing this strategy requires a deep understanding of positioning & resources.
When a company delivers on this, it allows consumers to quickly grab another product In the family, expanding the adoption of the consumer base and widening its reach.
This is crucial with edibles as the category continues to widen as consumers look for alternatives to smoking and a consistent dialed-in dose.
This week we sit down with Kristi Palmer, Co-Founder of Kiva Confections, to discuss the following:
Targeting Consumers via Brands and Unique Profiles
State-by-State Expansion
Edible Challenges & Opportunities
About Kiva Confections:
In 2010, a young cannabis-loving couple set out on a mission to create a better edible experience for legal consumers. Scott Palmer and Kristi Palmer were inspired by a visit to a local chocolatier and soon started crafting the first Kiva Bars in their home kitchen. They didn’t realize it at the time, but they weren’t just creating a premium edible product, they were setting the gold standard for the entire legal cannabis industry.