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Daily Archive: December 27, 2022

Canadian Retail Player High Tide On A Steep Growth Curve

Canada-based cannabis operator High Tide Inc. is expanding rapidly in its home market and has big plans for the United States. In the span of 13 years, High Tide has evolved from a single-unit, two-employee cannabis store to a multi-national cannabis firm with more than 140 Canadian store locations and more than 1,400 employees, plus holdings and business ventures throughout the United States and the United Kingdom. Revenue almost doubled to C$249 million ($182m) in the nine months through July. High Tide CEO Raj Grover has ambitious growth plans for his company, which is publicly traded on the Nasdaq, Toronto (TSXV), and German (FWB) stock exchanges. SNDC recently caught up with Grover for an update. Continue reading →

Posted in News on December 27, 2022

Bipartisan Congressional Group Calls On Biden To Deschedule Cannabis

Numerous members of Congress sent an emphatic letter to President Biden last week, urging him again to remove cannabis from its Schedule I designation, which places it in the category of most-dangerous drugs that lack any medical benefit. The letter was signed by high profile senators and representatives including leading cannabis reform voices like Barbara Lee, Ron Wyden, and Earl Blumenauer, along with others including Elizabeth Warren, Cory Booker, and Matt Gaetz, among others. Continue reading →

Posted in News on December 27, 2022

Cannabis Briefs for December 27, 2022

•New York’s first recreational cannabis retail location will open this week, the state’s Office of Cannabis Management announced. Continue reading →

Posted in News on December 27, 2022

Interview: Aurelio Montes On Chile In Transition

Chilean wine is in the midst of a gradual transition in the U.S., as leading players aim to steer the market toward higher price points while leveraging the South American country’s diverse range of styles to garner traction with a new generation of consumers. Chile’s bottled wine shipments to the U.S. have fallen by roughly one-third over the past decade as Concha y Toro and others have refocused toward the premium end, but Chile remains a nearly 5-million-case category in the U.S., with Cabernet Sauvignon and Sauvignon Blanc both well-positioned for growth. SND executive editor Daniel Marsteller recently caught up with category pioneer Aurelio Montes Sr., now president of Wines of Chile, for an update.

Continue reading →

Posted in News on December 27, 2022

News Briefs for December 27, 2022

•Champagne is expected to reach a new record in terms of global sales value this year. Continue reading →

Posted in News on December 27, 2022