While adults in Canada still have to wait until October 2018 to use marijuana recreationally, pot company Aphria has begun stocking suppliers across Canada in preparation for the Oct. 17th legalization birthday.
The shipments are a cause for celebration for Aphria, a Leamington, Ontario Canada based pot grower. The company has skyrocketed in size since its inception in 2014, reaching a whopping $4.6 billion valuation and employing roughly 500 workers, with no signs of slowing down even as stock prices in the space swing wildly.
Job descriptions would have seemed impossible to any onlooker just a few years ago, as employees stay busy rolling joints, filling and labelling tubes of weed and readying jars containing bud. All the activity is in preparation for the launch of what is sure to be a huge industry.
Investors have whipped up a frothy billion dollar marijuana market leading up to the legal change in the country, with many predicting the adult recreational weed market will come in around $5 billion annually by 2020.
Aphria has already positioned itself as a leading provider of medical marijuana in Canada, and is aiming for a different market segment with its new recreational product line, with sexy sounding names to call in shoppers to the shelves. The company will be ready for October 17th with their first three recreational products: Solei for the first-time user, Riff for a more intense affect, and Broken Coast for those more experienced with marijuana. All three recreational brands will be available for purchase on Oct. 17. Two more products will be added to the mix in the following quarter.
In spite of their efforts to spice up marketing, to protect minors, Health Canada has laid out strict guidelines on how recreational pot can be packaged, advertised and marketed. As such, the company expects that impeccable supply and distribution may be more important that marketing campaigns for budding weed companies, and they feel they are best positioned in that regard among weed companies.
In a presentation to investors, Aphria reported it had more than 5,600 kilograms of finished marijuana inventory and weekly production of about 660 kg, which is expected to increase to more than 5,000 kg by next spring with the completion of a major expansion to the company’s Leamington grow operations.