Acronyms like THC and CBD aren't enough to create a brand, New Frontier Data COO Gary Allen said Tuesday at the Benzinga Cannabis Capital Conference in Chicago.
Brands must go further in their marketing and brand development, he said in a keynote.
"We have to do some things in this industry, just like every other mature market. We have to bank. We have to standardize," Allen said.
New Frontier is one of many brands at the conference in the midst of significant M&A activity, the COO said.
The cannabis data company announced the acquisition of Zefyr Oct. 9 and the acquisition of Civilized one day later.
More brands are likely to merge as legalization continues, Allen said — but they shouldn't unless there's a viable reason to do so.
"We have to have real reasons for our companies to come together, operate together ... with an agency, and then obviously succeed."
Related Links:
New Frontier Data Announces Plans To Acquire Civilized Worldwide
Photo by Asa Barron Photography.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.