Tilray Ramps Up Pre-Roll Production As Competition Heats Up In Canada

Tilray Brands, Inc. TLRY TLRY debuted its new 'Diamonds Collection' by its Premium cannabis lifestyle brand RIFF on Wednesday

The new diamond-infused pre-rolls come in two powerful small-batch craft flower offerings, including its popular Melonaide flower and the brand's new Purple Punch OG flower.

Pre-rolls are produced with THCA diamonds, feature full-spectrum resin, are wrapped in premium paper, and are rolled in kief. The two terpene-rich strain options come in 5x0.5g multi-packs in a compact, reusable carrying case for on-the-go sessions.

For its '26 Delta Diamond-Infused Blunts, RIFF uses another consumer favorite – the infamous lineage of Blue CKS, a unique blend between Girl Scout Cookies (GSC) lineage and Blueberry Kush, offering a terpene profile alongside the potent addition of pure THCA diamonds along with full spectrum resin. The products come in 2x0.5g multi-packs.

What's Next

Later this year, RIFF plans to broaden its Diamonds collection with additional new innovative products, joining its infused pre-rolls and blunts, which are exclusively available in select regions and retailers across Ontario.

The Race Is On

The latest data from Hifyre suggest there's a heated race in the pre-roll segment in the Canadian cannabis market.

In the second quarter of 2023, a total of 1,475 pre-roll SKUs were registered, originating from a diverse pool of 148 licensed producers (LPs).

Tilray claims a 13.8% share, a position fortified by its strategic acquisition of HEXO, being outpaced by Decibel Cannabis Co Inc. only, which commands the pre-roll landscape in the country with a 16% segment share.

The acquisition of HEXO enabled the company to double its pre-roll segment share, even as it maintains a diversified portfolio with 161 SKUs listed, according to Zuanic & Associates.

Last year, upon closing the acquisition deal, Irwin D. Simon, Tilray's chairman and CEO, called the move "a unique opportunity to realize our vision to enhance consumer experience and lay the groundwork for the next evolution of Canadian cannabis."

Simon, who leads one of the largest Canadian cannabis companies in the world, delivered the keynote speech at last year's Beniznga event, which returns this September in Chicago.

The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

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Photo: Courtesy of 2H Media on Unsplash

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