How Canopy Growth became the jolly green giant of cannabis
With recreational use now legal across Canada, an $11 billion marijuana company called Canopy Growth–the country’s top player–is suddenly getting personal with millions of new customers
Fast Company
Thursday, January 24, 2019
Thursday, January 24, 2019
The common wisdom among investors and analysts in the cannabis industry has been that bigger is better. They predict that cannabis will follow the path of alcohol after Prohibition ended in the U.S., quickly consolidating to a few major companies. Or even become like the oligopoly of tobacco. Since obtaining one of Canada’s earliest licenses for commercial cultivation of medical marijuana about five years ago, Canopy Growth had built a global weed empire. The company employed more than 2,000 people and had more than 4 million square feet of marijuana under cultivation, an 80,000-square-foot warehouse stocked to the rafters with inventory, and $78 million (U.S.) in fiscal 2018 revenue.
tags:
