As the stigma around cannabis finally fades, the number of celebrities and influencers willing to attach their name to the products is growing exponentially.
And while some opt to endorse cannabis brands, others are launching businesses in their own right.
Scotty Sire is an award-winning digital creator and entrepreneur who has ventured into the CBD space after getting his fair share of fame on websites including Vine, Spotify and YouTube, where he currently has 3 million subscribers.
Together with his friends Jay Boice and famous Viner Toddy Smith, as well as partners Joe Wegner and Kyle Slabotsky, the Vlog Squad member co-founded iCBD Oils. In June, the CBD company launched with "Don't Be Sad CBD Tinctures."
As an influencer-owned and operated company, iCBD is poised to team up with notable influencers and introduce collaborations designed mainly for their audience.
After all, CBD and social media marketing are "perfectly aligned with one another," Boice, who runs the company as CEO.
Being one of the very few ways to promote CBD, social media channels are a solution for making it mainstream, Sire and Boice explained. See the full interview in a special edition of Benzinga Cannabis Hour below:
The business partners — who also happen to be roommates — highlighted that their goal is not to lie to their customers regarding product labeling.
There is a number of CBD companies that "do an influencer marketing, but you don't know anything about what they're actually putting in there," Boice says.
According to a recent Leafreport, out of 22 tested infused beverages from 20 popular brands, 54% of products contained less CBD than labeled. Moreover, another study conducted by the brand review website and its partner lab, Canalysis, revealed that only a quarter of CBD edibles contained the labeled amount of CBD.
"I would rather be a brand ambassador for my own CBD," Sire disclosed. He further revealed that the "setup process was a lot" as they thrived toward developing products with a "good taste and good quality material inside of it." In addition, being and staying transparent was a big part of it, Boice explained.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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