In the latest episode of Biedex Markets’s Cannabis Insider podcast, hosts Abbey Higginbotham and Pato Liddle interviewed Raj Grover, CEO of High Tide Inc HITI, and Finn Hänsel, CEO of Sanity Group. In this exclusive conversation, these industry leaders discussed their vision for the future of cannabis, innovative strategies and the evolving global regulatory landscape.
High Tide’s Remarkable Journey
High Tide has disrupted the cannabis retail landscape with over 160 stores across Canada and generating $500 million in revenue. Grover attributes its success to differentiated thinking and an innovative mindset. The company’s unique discount club model has gained significant market share, making it a prominent player in the Canadian cannabis market, currently on track to achieve its goal of expanding to 300 stores.
Germany’s Legalization: Possible European Domino Effect?
The world is watching the cannabis legalization process in Germany closely. Despite challenges, full legalization, covering medical and adult-use markets, is on the horizon. Sanity Group’s Hänsel sees this as a transformative moment, offering exciting opportunities for both companies.
Furthermore, Germany’s decision is expected to trigger a domino effect across Europe. Countries like the Netherlands, Malta and Portugal are eager to follow suit. Switzerland, unaffected by E.U. restrictions, is poised for significant progress; pilot programs and retail operations will showcase the benefits of legalization.
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Rescheduling In The United States And Lessons From Canada
Rumors of rescheduling cannabis to Schedule III in the U.S. are gaining momentum, potentially leading to federal legalization. Grover believes this could spark global cannabis legalization, with countries worldwide following America’s lead.
Canada, as the first G7 country to legalize cannabis, offers valuable lessons. Cooperation between licensed producers and retailers is essential. These lessons are crucial for countries like Germany and others considering cannabis legalization.
A Call For International Cooperation
Both Grover and Hänsel emphasize the need for international cooperation among governments. In this regard, establishing standardized global approaches to cannabis regulation could streamline the industry and promote responsible use.
As the cannabis industry stands at a pivotal moment, High Tide and Sanity Group are poised to capitalize on new opportunities in Canada, Germany and beyond.
Watch the full interview on Biedex Markets Cannabis’ YouTube channel.
