The Dime Richie Proud on the iAnthus Turnaround: Why Selling Arizona Fueled Core-Market Growth
What if the smartest growth move is cutting—on purpose?
Turnarounds aren’t financial stories—they’re operational ones.
Growth-at-all-costs is out. The new playbook: prune non-core assets, concentrate resources in high-return states, and speed the path from cultivation to checkout.
This week we sit down with Richie Proud, CEO of iAnthus, to discuss:
- Brand strategy: MPX & Cheetah — complementary roles that travel and drive velocity
- Arizona sale → core growth — why pruning unlocked focus in FL/NY
- Wednesdays in Florida — weekly drops as a repeat-traffic engine
Chapters
00:00 Introduction to IANTHUS and Richie Proud
02:23 Richie's Journey to Cannabis Leadership
05:54 Navigating the Complexities of IANTHUS
09:40 Strategic Decisions: Divesting from Arizona
11:27 Identifying Key Markets for Growth
14:28 Building Relationships in the Cannabis Industry
18:03 Operational Challenges and KPIs
22:13 Understanding Consumer Differences Across States
23:51 The Cheetah Brand Acquisition
26:54 Integrating New Brands and Operations
32:37 Creating a Unique Retail Experience
36:08 Learning from the Fashion Industry
39:55 Balancing Speed and Quality in Product Development
45:22 Leveraging AI for Real-Time Insights
47:22 Lessons Learned in Operations
51:33 Building a Super Friend Network
52:27 Connecting with Consumers and Community
Summary
In this episode, Bryan Fields and Kellan Finney sit down with Richie Proud, CEO of IANTHUS, to discuss his unique journey from the fashion industry to leading a cannabis company. Richie shares insights into the complexities of operating across multiple states, the importance of building relationships in the cannabis industry, and the strategic decisions that have shaped IANTHUS's growth. He emphasizes the need for operational excellence, understanding consumer behavior, and the role of AI in enhancing business decisions. The conversation also touches on the significance of creating a unique retail experience and the lessons learned from past operational challenges.
Guest Links:
- https://www.linkedin.com/in/richie-proud/
- https://www.ianthus.com/
- https://www.linkedin.com/company/ianthus-capital-management/
- https://x.com/ianthuscapital
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