- Prime Harvest is the parent company of Jaxx Cannabis, its D2C operations actively expanding throughout California
- Prime Harvest’s brand partners strongly positioned across multiple segments of the cannabis value chain
- Brand partners include Mary’s Medicinals, STIIIZY, Lime Cannabis, and Tonik
Revenue diversification is critical to sustainable growth in the cannabis industry, and it’s central to the strategy of Prime Harvest, a technology-focused, full-service cannabis corporation. With a strong portfolio of successful brand partners, Prime Harvest is strongly positioned to lead California’s sector through robust diversification across multiple segments of the cannabis value chain.
“Our approach is to create strong alliances with complementary brands that are in alignment with our culture and values,” reads the company website (https://ibn.fm/l1pDd). “Through our various platforms, we grow existing cannabis brands and continuously discover new high-potential performers that offer a long-term outlook for collective success.”
Prime Harvest is the parent company of Jaxx Cannabis – a retail brand currently expanding throughout the state of California. Jaxx’s strong performance enabled Prime Harvest to grow despite the post-pandemic economic downturn. “The key to such a strong foundation was building mutually sustainable relationships with our suppliers and brand partners while honing in on proving the best service and experience to our customers,” said Prime Harvest’s CMO Johann Balbuena.
Consumers are becoming more cognizant and increasingly aware of what they’re putting in, and on, their bodies. As an organization with long-term objectives, Prime Harvest aims to bring consumers high-quality products that are fair for people and the planet. Hence, the Jaxx Cannabis retail strategy is to support brands in the cannabis space that are tearing down boundaries and breaking new ground to make an overall positive impact.
Mary’s Medicinals, a long-term Prime Harvest brand partner focused on the medicinal space, offers high-quality cannabis-derived therapeutic products. STIIIZY – another Prime Harvest partner – develops an industry-standard pod system with a loyal following of dedicated users.
According to MJBizDaily, pre-roll sales jumped from $640.1 million in 2019 to $941.6 million in 2020 (a 47.1% increase) across several key markets. And while seasoned consumers and cannabis aficionados are becoming a larger segment of the pre-roll market, newer consumers will remain the bread and butter of the pre-roll industry as new markets continue to open. Prime Harvest’s partnership with Lime Cannabis Co. meets consumers’ need for ease and convenience of purchasing a ready-to-consume product by leveraging high quality and consistency. For users that prefer non-smoking cannabis administration, Prime Harvest partner and award-winning brand, Tonik, provides an edible alternative that allows customers to experience the benefits of cannabis in a drinkable format that not only tastes great but also delivers a consistent dose.
The company recently announced it was granted expansion rights for the sale of adult-use edibles – a move expected to drive sales even higher in 2022 (https://ibn.fm/Wpe6f). “We are excited to expand and participate in the adult-use market, and even more than excited to expand our menu to include cannabis infused edibles for both our current medical patients as well as the recreational consumer,” said Prime Harvest’s Founder and CEO Duane Alexander. “With the systems in place to drive our retail expansion, we are well on our way to execute on our strategically-designed plan for sustainable growth.”
Prime Harvest Inc. is a tech-focused cannabis company that diversifies its operations across the entire cannabis value chain with a focus on direct-to-consumer operations, licensing acquisition, and compliance management. The company continues to grow its footprint throughout California by investing in the growth and scale of licensed assets while staying committed to the ethical principles valued by its employees, management team, and growing base of dedicated customers and partners.
For more information, visit the company’s website at www.PrimeHarvestInc.com.
NOTE TO INVESTORS: The latest news and updates relating to Prime Harvest are available in the company’s newsroom at https://ibn.fm/PRIME
