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Below is a brief excerpt from a complimentary research note written by our Cannabis analyst Howard Penney. We are pleased to announce our new Sector Pro Product Consumables Pro. Click HERE to learn more. |
Yesterday marked the launch of Jay-Z’s Monogram brand in the California market with the rollout of three products: packaged flower, pre-rolled mini joints, and a cigar-like pre-rolled joint.
Monogram offers four San Jose-grown cannabis strains at select California dispensaries and via their own delivery service: No. 01, No. 70, No. 88, and No. 96.
Their numeric naming is further categorized by ‘light,’ ‘medium,’ and ‘heavy’ to denote their high strength.
Monogram’s products carry a premium pricing – two grams of No. 01 flower (light) costs $40 or $20/gram. According to Price of Weed, a crowd-sourced, global price index for cannabis, the average cost of high-quality cannabis in California is $258.48/ounce or ~$9.23/gram.
Monogram’s OG Handroll, their individual, cigar-like, hand-rolled joint product, goes for $50 at 1.5 grams. The website markets it as inspired by “the smoke experience of a premium cigar” and implementing “a proprietary roll technique allowing the flower to burn slowly and evenly for multiple sessions.”
Given that SBVCF/TPCO is heavily leveraging its celebrity attachment with Jay-Z to increase brand awareness and drive mainstream recognition, Monogram’s performance in the highly competitive and saturated California market will give some idea of the company’s future success with its brand portfolio.
SBVCF/TPCO is on the Hedgeye Cannabis LONG Bias List.
