Future Brands of Cannabis: Madame Munchie
The future brands of cannabis are here today, and they are getting better and better every year. The days of going into a dispensary and getting a brownie in a Ziploc are long gone. The status quo is now clean branding, predictable dosing, and sophistication. Considering that 1 in 5 American’s now live in a state where adult use of cannabis is legal, brands are now expected to serve mass markets. In California specifically, brands are vying for shelf space in an increasingly competitive marketplace at dispensaries and delivery services throughout the state. Some brands have been serving patients in California’s medical market since the earliest days of its legalization and others just launched in 2016. With the magnitude of the events of 2016 in mind we wanted to get to know these brands a bit better, and they were kind enough to answer some questions for us.
Madame Munchie is the first in our #FutureOfCannabis Brand Series. Around this time last year we listed them as one of the “7 Cannabis Infused Brands to Watch in 2016”, so we’re excited to get some updates. If you don’t already know they make upscale macaron’s (don’t confuse them macaroon’s). They were founded in 2014 by Kim Geraghty and have been winning awards ever since. Their first award came in 2014 at the High Times Cannabis Cup where they took home 1st place for best edible, and most recently in 2016 when winning 1st place for best dessert at Hempcon. Kim has a unique background in finance, VC, and asset management and as others have pointed out she “represents the newest breed of cannabis professionals.” Catchup with the team as they reflect on 2016 and look forward to 2017 and beyond:
Can you recap 2016 as it relates to Madame Munchie?
2016 was a great year and we learned so much. Deciding where and how to invest our time and efforts is always challenging. There are so many amazing opportunities and people working in this industry. With so much change happening in the industry right now, it can even be challenging just to keep up. We attended several amazing cannabis events throughout the year, even more than in 2015, meeting patients and educating about our products. We are grateful for the new awards we won this year, such as the 1st place for best edible at Hempcon and Happy Place Festival.
Does the passage of prop 64 in California have an impact on your business? If so, how?
The passage of Prop 64 sends a strong message that the people of California are in favor of legal cannabis. We welcome this signal as we believe it will help decrease the stigma around cannabis and allow people to use cannabis more freely. We support both medical and recreational cannabis consumption and our products are meant for both.
As an executive of a cannabis infused brand you likely have some KPI’s (Key Performance Indicators) that you’re measuring–what are they?
We measure several KPIs, such as sales growth, gross margin, churn rates, THC levels, manufacturing costs, and more.
What is the cannabis-infused landscape missing that you’d like to see more of today?
We hope that the compassionate values that this industry was built on will continue to thrive in the future.
What are you most excited about in 2017?
Getting our next products out of the pipeline and into the hands of our patients.
Checkout our next post featuring Kiva Confections. We cover 2016 accomplishments, micro-dosing, and the growing competitive landscape they face.
