Marijuana’s push into the mainstream now includes a store inside Manhattan’s Chelsea Market, where a holiday shopper seeking a gift for that cannabis connoisseur in their life can spend $6,000 on a glass pot pipe in the shape of a skateboard.
Higher
Standards, a Miami-based company that makes marijuana accessories,
launched its first retail location a year ago inside the high-end mall,
which draws thousands of local foodies and tourists heading west to the
High Line.
In
addition to expensive bongs and vaporizers, there’s a selection of
rolling papers, glass containers for matches and even a $350 marijuana
infuser for the home chef looking to make edibles that are a bit more
precise than dorm-room pot brownies. This is weed culture in 2018:
upscale and out in the open—even in New York, where pot is still
illegal.
“There’s
still a wink and nod in New York,” said Sasha Kadey, chief marketing
officer and co-founder of Higher Standards. “There’s advantages in a
business like ours, which doesn’t touch the plant.”
Kadey
was referring to a dividing line in the cannabis industry between
companies that “touch the plant,” or deal with marijuana directly, and
those that don’t. The Higher Standards store in Chelsea Market set a
single-day sales record on Black Friday, and then topped it on Dec. 8,
the retailer said.
The
store, which offers gift wrapping, of course, will be profitable this
year, according to Kadey.
The company plans to open as many as five additional locations next year, including one in Atlanta that’s expected to be ready just in time for Super Bowl Sunday.
The company plans to open as many as five additional locations next year, including one in Atlanta that’s expected to be ready just in time for Super Bowl Sunday.
Back
in New York, with signs that Governor Andrew Cuomo, a Democrat, wants
to legalize pot for adult recreational use, Higher Standards could be
well-positioned to capitalize. MedMen, a U.S. cannabis company that has a
medical-use dispensary on Manhattan’s Fifth Avenue, is reportedly
interested in opening a new store a few steps from Chelsea Market.
These
days, cannabis culture is becoming part of everyday life. Pot is now
legal for adult use across Canada and in 10 U.S. states, with easing
regulations driving an investment boom that’s seen the value of publicly
traded marijuana companies surge. Still, federal laws barring marijuana
possession have complicated matters.
Marijuana
pipes and bongs have long been available across New York in bodegas and
smoke shops, often with a requisite winking admonishment that the
products are only for tobacco.
Higher Standards, meanwhile, has sought to “elevate” the marijuana accessories shopping experience.
Higher Standards, meanwhile, has sought to “elevate” the marijuana accessories shopping experience.
The
retailer wanted to be in New York because the city is on the cutting
edge of retail trends, Kadey said, adding that the company was also
taking advantage of the surging curiosity around cannabis.
In New York, everyone is hearing about weed and legalization, and the store has become a place to get a look at how the industry is evolving, he said.
In New York, everyone is hearing about weed and legalization, and the store has become a place to get a look at how the industry is evolving, he said.
“People
want something to look at,” Kadey said. “It’s good to have an advanced
presence here at the legalization trends continues. It’s not such a
noisy, competitive landscape at this point.”
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