As the legal cannabis industry grows in size and value, more celebrities are jumping onboard to capture some of the buzz. American rapper Wiz Khalifa is one of the more recent names to join the industry, partnering with The Supreme Cannabis Company Inc. (TSX:FIRE) to launch Khalifa Kush Enterprises Canada ULC (KKE).
Khalifa’s new company is introducing its first product called KKE oil, and it’s designed for consumers looking for a high potency THC option while offering a precise dosage as well.
-Wiz Khalifa
Many cannabis oils offered in Canada have focused on higher doses of CBD, the wellness compound touted for its potential health benefits. But with a high-dose THC oil, KKE is targeting a different type of consumer, which could prove to be successful.
One of the reasons edibles like gummy bears are appealing to consumers is it allows them to control the dosage, as opposed with trying to estimate when inhaling marijuana. By being able to control the dosage, consumers are at less risk of taking more than they are prepared to consume, which can lead to unexpected health consequences.
But Khalifa isn’t content with just the one product, as he hinted there is more to come:
Supreme Cannabis launches premium cannabis oil in partnership with Wiz Khalifa and Khalifa Kush Enterprises Canada. (CNW Group/The Supreme Cannabis Company, Inc.)
The partnership between the two companies stems back to December when they agreed to work together on an international scale to help develop premium cannabis products. It benefits both sides since Khalifa gets an established company listed on the Toronto Stock Exhange that has already made a name for itself in the industry, making it easier for him to tap into an existing customer base. And for Supreme Cannabis, they get to benefit from Khalifa’s strong millennial following.
Canadian pot giant Canopy Growth Corp (NYSE:CGC)(TSX:WEED) has also targeted celebrities partners, including Snoop Dog, Martha Stewart and Seth Rogen. And even though Canadian regulators don’t allow celebrity endorsements, as the legal pot market expands it’s likely more big celebrity names will team up with the larger companies in the industry.
Supreme Cannabis President John Fowler on the new product launch:
We firmly believe that a high-quality input supports high-quality output and KKE Oil embodies this belief.
We are excited to launch one of the first recreational focused cannabis oils in Canada with Wiz Khalifa and the KKE team. KKE Oils are easy to consume, effective and deliver the aromatic terpene profile 7ACRES’ Sensi Star is known for.
We can’t wait to launch the full suite of KKE products, including KKE Jean Guy Oil, later this year.
Supreme Cannabis has generated a meager $26 million in sales over the past four quarters, and could certainly use a boost from the new product line. While it has seen growth from the past year, if it wants to be among the industry leaders it’s going to need to increase its market share to be a real threat. Partnering with Khalifa and being associated with premium cannabis products is one way the company might be able to achieve that.
