You might recall that back in the Fall, one-time CBC Dragon Arlene Dickinson joined the board at Aphria. For many, this cemented a truth that they had been feeling or predicting for some time: that the Canadian cannabis industry has finally come to a place where mainstream investors are no longer worried about being branded as reckless mavericks, that the market has a strong future, and that participating in it doesnt have to mean getting in bed with the mob, or being perceived as such.
So it came as no surprise last month when Arlenes fellow Dragon alumnus, Brett Wilson, bought into emerging cannabis lifestyle brand Tokyo Smoke, alongside the King Midas of cannabis, Chuck Rifici.
What is it that has these two tycoons so interested? For many, Tokyo Smokes chique branding represents the future of consumer cannabis. While historically, most brands in the cannabis space have been aimed at the lifestyle stoner, Tokyo Smoke is designed to appeal to a much larger demographic: people who use cannabis, but dont see it as something that should define their self-image or how others perceive them.
To date, Tokyo Smoke has been carefully establishing its brand by curating designer clothing, elegant and discreet smoking accessories, and premium coffee in their store. However, coincidentally enough, it has been announced that they have entered a partnership with Aphria to release four Tokyo Smoke branded strains of medical cannabis to Aphrias ACMPR customersa move that is no doubt intended to be a test run for what will come in the future recreational market (much like Leafs by Snoop at Tweed).
As they say in Dragons Den: two Dragons are better than one, and it looks like this is turning out to be a two Dragon deal, with Arlene at Aphria and Brett at Tokyo smoke. While its nice to see them working together again, there is another matter that these two have recently been publicly disagreeing on: Kevin OLearys current bid to win leadership of the Conservative Party.
A few weeks ago, right around the time that Bretts investment in Tokyo Smoke was announced, Arlene penned a piece for the CBC in which she expressed her displeasure at the thought of Kevin OLeary entering Canadian politics. Kevins total lack of empathy toward these Canadians who put their heart and soul on the line, I can assure you, was genuine, she wrote of her time with him in the Den.
Immediately thereafter, Brett came to Kevins defence in an interview with a CBC reporter, even going so far as to endorse OLearys bid for leadership of the Conservatives, saying, Today, I would endorse Kevin OLeary, absolutely, because I want to see him in the process [] Id like [them] to consider the fact that he is maybe a little politically incorrect, but hes willing to take on the tough issues without kowtowing to the vocal minority. I love Kevins approach.
Whatever they agree or disagree on, these three Dragons all seem to be on the same page around the future of cannabis; though he has yet to make any public investment in the sector, during his time on Dragons Den Kevin was supportive of marijuana businesses, where his fellow Dragons were often skeptical, if not hostile.
As Arlene put it in her piece ...
