CANNAINVESTOR Magazine January / February 2017 - Page 95

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Not to be out done by the descendants of Bob Marley, Anita Thompson, the wife of the deceased Hunter S. Thompson who died in 2005, announced in late November that she had saved her husband’s favorite marijuana strains. Anita Thompson indicated that she had kept twelve bags of the gonzo journalist and writer’s favorite marijuana and hash. She stated that she was having the DNA analyzed and would be cloning her husband’s favorites to be launched under a new brand.

In general, the response to celebrity marijuana brands is mixed, both by the industry itself as well as by consumers and patients. Many younger consumers are turned off by commercialization and branding. Older customers are generally more comfortable with branded products. They frequently feel that a celebrity-endorsed, branded product line, provides a “seal of approval,” and that the marijuana product will provide the desired recreational effect or medical benefit the consumer is seeking.

Typically, celebrity-branded marijuana products have a higher selling price than similar non-branded products. A recent study in Colorado indicated that the average selling price for celebrity-branded strains of marijuana flower and extracts were at an approximate 24 percent premium to non-branded products.

Snoop Dogg’s “Leafs by Snoop” averaged a markup more than 11 percent higher than a comparable non-branded product.

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