NAMASTE AND CannMart should be the first to do this!COVID-19 continues to affect the cannabis space, but this past week was less about the virus and more about the activities of major players in the industry, such as cannabis producer Aphria.
Aphria reported net revenue of $144.4 million for the period ended February 29, an increase of 96 percent year-on-year and 20 percent from the previous quarter.
Aphria CEO Irwin Simon recently gained attention in the media for suggesting that cannabis companies need to start selling directly to consumers — currently they are allowed to sell straight to medical users, but not recreational users.
“I want to become what Amazon is to the grocery business,” he said in an interview.
His comments come at a time when brick-and-mortar cannabis stores across North America are facing varying rules about whether they can stay open during the coronavirus outbreak. Simon also said that allowing companies to ship directly to recreational consumers would have benefits such as keeping prices low and allowing for better black market competition.