As the cannabis sector has moved to shed the “stoner” stereotype several have held of its buyers, quite a few marijuana corporations are rebranding themselves by means of name adjustments and other methods to attempt to reflect the firms they’ve develop into.
Whether or not the selection revolves about an initial public providing (IPO), including Akerna’s, or the acquisition of a number of dispensaries such as Cresco Labs, several firms are functioning toward developing a unified, experienced brand.
Bill Winchester, president and chief inventive officer of advertising firm Lindsay, Stone & Briggs, which has offices in Madison, Wisconsin, and Minneapolis, mentioned the following are other possible motives a marijuana firm may well rebrand:
- “The sector is altering and sort of going from possibly anything that is sort of way recreational and goofy to anything that is a small a lot more significant and medicinal,” Winchester mentioned.It has launched new and distinctive solutions.
- The competitive landscape in the sector has shifted, and it desires its brand to reflect these adjustments.
- It desires to tension the developing professionalism surrounding the marijuana sector.
Rebranding and going public
An IPO was the impetus behind the renaming of Denver cannabis technologies business MJ Freeway to Akerna, which trades on the Nasdaq as KERN.
The name transform occurred when MJ Freeway merged with MTech, a specific objective acquisition firm, according to MJ Freeway’s vice president of worldwide advertising and communications, Jeanette Ward Horton.
Published: December 02, 2019