Rajs’ goal for High Tide in the US
“I’ve made my intentions clear that we wanna be a top-five, multi-state operator in the United States, and people have [said], ‘Raj, that’s an ambitious goal.’ Yes, it is. But again, look—the proof is in the pudding. Look at what we’ve done in Canada. What is stopping us from doing that in the United States?”
Diversification at the root of the business inception:
“We were definitely a diversified company since inception. While building the smoke shop portfolio in Canada, I also started a manufacturing distribution company. We want to completely differentiate ourselves, so we became a diverse cannabis company. Then, we supplemented it further with famous brands. So, we’ve always been a diversified cannabis company, which is […] built in our roots.”
Race to the bottom?
“Anybody can just discount the price, and anyone can say, ‘Oh, I’m going to drop my price, and I will attract more customers.’ The next guy is going to do that, and then the next guy is going to do that. That’s a race to the bottom. What we wanted to do was create an efficient ecosystem.
Raj Grover, CEO of High Tide
We looked at our ecosystem. We have top international CBD brands. We have some of the best consumption accessory platforms in the world.We have some of the […] top-notch brands of consumption accessories worldwide, so we decided to leverage all those elements in our overall ecosystem, bring them into our Canada Cabana stores, and make it into a membership model.”
Editors’ Note: This is an excerpt from our Monthly Playbook. If you would like to read the full monthly playbook and join the thousands of others you can sign up below.
