Cannabis lifestyle brand High Times will enter the physical retail market with flagship dispensaries in Los Angeles and Las Vegas. The stores will carry High Times logo memorabilia and licensed products, as well as cannabis products from producers in each state.
The company is bolstering its retail bonafides by naming Paul Henderson as President and interim CFO. Henderson, the former CEO of multinational cannabis company Grupo Flor, brings experience in management and asset development as well as store operations. Henderson also has worked in the business units of Goldman Sachs, GE Capital and Apple.
“High Times has 10 times the number of social followers of any other cannabis retail brand, not including the millions of cannabis enthusiasts who visit the company’s media properties on a monthly basis,” said Henderson in a statement. “The cannabis movement has grown in no small part due to the High Times brand, and we will continue to be the source for the highest quality product in this industry — just on a much more personal and direct level.”
High Times also prepared for its leap into retail by hiring Stormy Simon, former President of Overstock, as CEO earlier this month. She served at the e-Commerce retailer in various roles for 15 years before stepping down to become involved in the cannabis industry, including a role as a member of the High Times Board of Directors.
High Times will tap its established presence in the cannabis market to differentiate itself from other players, with features like an area dedicated to Cannabis Cup award winners. The company also is hoping to announce additional locations in the coming weeks.