RE:CRZ president says US brands will win out over Canada Our CannaRoyalty president Mr. Hasan doesn't seem to be too bright.
His academic credentials seem impressive...but after reading the BNN / Financial Post interview he seems to be out of touch with reality himself.
He uses unnecessary hyperbolyes, example:
The people that for whatever foolish reason thought Canada was going to dominate the world of cannabis, they need to disabuse themselves of that notion because it was never founded on any reality. Umm, the reality is that Canada is the leader of the legal medical and legal recreational cannabis industry in the world. Who is producing more than us? Invested? Best scientists? Exporting to Europe more than us? Revenues? etc...
Then he goes on to exaggerate again, but now off topic:
There is literally no industry in the world that we have an advantage in,” he said. “‘Our most prolific companies, Nortel, BlackBerry, Bombardier — we’re not good at running businesses, period, and it has to do with our culture. We’re not as aggressive and competitive and capitalistic as the folks down south.” Although that has nothing to do with the cannaabis industry, he is wrong there again. "period".
Canada's banking industry is the envy of the world.
How many of our banks went bunkrupt in 2008? Ever? None.
Also, our Mark Carney is now the money guy policy in UK.
CRA is exporting our complex but sophisticated tax system to other nations. It seems our model is one of the best in the world sofar.
He mentions Nortel, Blackberry, Bombardier...but does not mention the bluechip stocks from the 80s and 90s USA that suck now like P&G, GE, Kraft Heinz.
Then makes this blanket statement
"
we’re not good at running businesses, period". Tell that to Bruce Linton.
That is also false. Of all G20 nations, Canada has always had the most number of businesses (per capita) when compared to other G20 nations. Except for Quebec, Canada is very entrepreneurial.
He also stated : "
We’re not as aggressive and competitive and capitalistic as the folks down south.” Kinda true...Canadians are more civilzed, polite, human, honest, advanced beings when compared to USA where it is 'let's make money at all human cost'. Have you seen the sad state of many US cities lately? Niagara Falls, Detroit just to name a couple. Not in Canada.
I wonder if he is suited to be our comapny president?
Mr. Hasan and Mr. Kovler from Green Thumb Industires are only focusing on the recreation portion of cannabis industry. The medicinal is far more lucrative.
oiljack14 wrote: https://business.financialpost.com/cannabis/canadian-pot-will-lose-out-to-u-s-brand-behemoths-firms-say NOT REALITY
“The people that for whatever foolish reason thought Canada was going to dominate the world of cannabis, they need to disabuse themselves of that notion because it was never founded on any reality,” Hasan said in an interview.
CannaRoyalty trades on the Canadian Securities Exchange, but it’s largely focused on the California market, where marijuana has been legal for almost a year. It also has a strategic partnership with Canadian retailer 180 Smoke and intends to bring some of its 50-plus brands to Canada next year when vaping and edibles become legal.
Hasan, who’s from Nova Scotia, doesn’t pull any punches in explaining why Canada’s cannabis industry is at a disadvantage.
“There is literally no industry in the world that we have an advantage in,” he said. “‘Our most prolific companies, Nortel, BlackBerry, Bombardier — we’re not good at running businesses, period, and it has to do with our culture. We’re not as aggressive and competitive and capitalistic as the folks down south.”
Canada has laid down very strict rules around branding, including requirements that packages have to be a single colour, logos can’t be bigger than the mandatory health warning, and marketing can’t associate a product with glamour or fun.
Consumer brand awareness on the first day of legalization was “extremely low,” with more than 95 percent of consumers unaware of the brands they had just purchased, according to GMP analyst Martin Landry. The brokerage surveyed 100 consumers on Day 1. This “raises questions about the large sums of money spent by some LPs to launch their brands,” he wrote in a note.
That means U.S. brands have an opportunity to connect with their consumers in a way that Canadian licensed producers don’t, said Kovler.
“That gives us pricing protection, pricing power, shelter against the storm of price compression because you have an experience with the consumer,” Kovler said.