Cannabis, CBD and hemp are going mainstream. And brands, producers and retailers are prepared to companion with top firms in the cannabis business. Poised to bring these solutions to markets is Future State Brands, a newly launched organization backed by a seasoned group with $25 million in funding behind them. Formerly PRØHBTD International, Future State Brands is led by Drake Sutton-Shearer, a six-year veteran of the cannabis business, along with a dream group of CPG executives, hailing from brands such as Coca-Cola, Starbucks, Patagonia, P&G and L’oreal.“I’m excited to move into this subsequent phase of our journey with a crystal clear vision of our preferred future state” mentioned Sutton-Shearer. “Although brands is the automobile to get us there, it can not be accomplished with out an amazing group, accessible capital and most of all, an understanding of the client we are constructing for”. Thanks to a money infusion led by Dallas-primarily based Cresco Capital, Future State Brands will be constructing out a increasing portfolio of THC, Hemp and CBD brands. Its present lineup incorporates hemp beauty line Hempathy functional beverage platform Ceeby Dee’s art-centric infused wearables The Patch Co. and music-driven flower brand Heavy Grass.
The company’s flagship PRØHBTD not too long ago launched a new internet site integrating content material and eCommerce with cannabis and street style customer solutions coming in 2020. With celebrities jumping into the CBD space, competitors in the cannabis and CBD market place is fierce. This week, John Legend announced his investment in Plus Hemp CBD Solutions. Former NBA star Lamar Odom lent his name to a line of CBD vape pens through 5 Star Juices. Jimmy Buffet has teamed with Surterra for his Coral Reefer brand penned a deal to license her brand to Level Brands. Martha Stewart not too long ago joined Canopy Development Corp. as an advisor as the organization develops CBD solutions across many categories, beginning with pet solutions. Knowing that good results will hinge on getting in a position to spot trends and curate culture, the organization is strengthening its partnership with Joel, Benji and Josh Madden, who are now productive entertainment entrepreneurs and cultural tastemakers.
The organization also acquired a majority interest in premium hash brand Hot Nife, founded by specialist snowboarder Circe Wallace, and are now functioning on reintroducing the brand to the market place. FSB’s licensing agency companion Beanstalk (an Omnicom agency) will be mainly focused on expanding the company’s footprint. Beanstalk is regarded the premier international brand extension licensing agency, representing some of the top brands in the globe.Sutton-Shearer believes that licensing is the very best way for brands to break into the cannabis and CPG market place.
Subsequent week, Future State Brands is presenting the CannaBusiness track of Marketing Week New York. Sutton-Shearer will kick-off the track with a discussion on “Cannabis, Hemp and CBD: How licensing can turn brands into leaders” with the company’s licensing companion Beanstalk