Alcohol marketer Constellation Brands goes to pot with marijuana drinks push
Constellation Brands, the US marketer best known for its promotion of Mexican beer brand Corona, is to diversify into the marijuana market after taking a 9.9% stake in Canopy Growth Corp.
Alcohol marketer Constellation Brands goes to pot with marijuana push
This marks a significant change in emphasis for Constellation Brands, which focusses on the beer, wine and spirits market, by marrying the best of both to create a new line of cannabis infused alcoholic drinks.
Any new product lines will be limited solely to the Canadian market for the foreseeable future however as Constellation Brands has vowed not to release any pot products into the wild south of the border unless the drug is legalized at a national level.
Canada is adopting a distinctively liberal stand for the recreational drug amidst predictions that the substance could be legalized as early as next year amidst rising popularity and usage.
Outlining their rationale behind the newly potent brew Constellation Brands chief executive Rob Sands told the Wall Street Journal that he expected a wider shift in the industry and was aiming for ‘first-mover advantage’.
Sands had previously outlines his stance on the issue to Bloomberg stating that perhaps people who smoke wouldn't drink and vice versa. He said: "Maybe the whole thing will work out synergistically.”
The brewing industry has been quick to perceive this rise as a potential threat to its market share amidst concern that people may choose to get stoned rather than drunk were the drug to be legalized.
Growing public acceptance of marijuana has seen a number of enterprising start-ups enter the market including Marley Natural; a new line of weed comprising strains named after reggae legend Bob Marley.