Cannabis sales and marketing agency Petalfast boasts a rich portfolio of famous cannabis companies, including edibles innovator Wana Brands, as well as Moxie, Big Pete’s Treats, Philter Labs, Besito, and Space Coyote.
Last month, the company confirmed a new product: THC-infused spirits.
Petalfast CEO Jason Vegotsky spoke with Benzinga about Artet, a aperitif he says is "right on the target in terms of the non-alcoholic spirit trend."
Indeed, plenty of cannabis beverages have debuted over the last year. Some brands have even won celebrity support:
- Gwyneth Paltrow, Ruby Rose and Rebel Wilson invested in beverage brand Cann
- Pabst Blue Ribbon debuted its cannabis-infused sparkling water at certain cannabis shops in California
- Spirits giant Constellation Brands STZ, which owns a 39% stake in Canopy Growth CGC, has CBD beverage plans
- And Sweet Reason launched "Evening Blend" — a collection of high-dose CBD sparkling beverages touted as an alternative to alcohol
Vegotsky addressed this trend, the excitement around Artet and whether THC booze can outperform edibles.
Is this the first beverage brand in the Petalfast portfolio?
Yes, this is the first THC-infused brand in the portfolio. We’ve looked into a few other companies in the past, but we knew Artet was a great opportunity.
They are innovators who are pushing the limit of what consumers come to expect from a THC-infused beverage. The founders have a vision and their go-to-market strategy is brilliant. We are very excited to accelerate this brand that is ready for liftoff.
They have a great product and proof of scale. Our management team and employee based has a lot of experience in the spirits industry. so to work with this cannabis infused aperitif is a no-brainer and something we are very excited about.
Do you see more potential in cocktails as opposed to a seltzer or wine, like House of Saka?
Absolutely, beverages are one of the things that brings people together. Cocktails are usually enjoyed amongst friends, and as cannabis becomes more widely used, we are going to look to participate with friends.
A cocktail is something you can enjoy, and the experience of consuming is always a great ingredient to a night out or catch up with friends.
Benzinga did a Cannabis Hour episode devoted to beverages. What are your expectations for this particular corner of the market?
National legalization will really help the beverage category explode. As of now, I wouldn’t say the category is ready to outperform edibles because supply chains aren’t sophisticated enough yet to build out beverages, but as more manufacturers increase ability to scale, we can definitely see this taking off.
Unlike the edible customer base. which is very established, we see the beverage customers jumping over from the spirits space and beyond.
What's next for Petalfast?
Petalfast has changed the route to market for cannabis in a quick way. There was obviously a pain point for this service for brands and now we are partnering with retailers to show the benefits of a true CPG brand portfolio approach.
We’re also planning on launching a premium indoor flower brand which will change the way brands are identified in the cannabis industry in the coming weeks.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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