Fire & Flower. Humble & Fume.
The names sound great together, and the business synergies sound even better. These two companies have just strategically entered into a supply agreement, which is expected to go far beyond products for sale.
In order to succeed for the long term, companies like Humble need to continue to steadily build out strategies and partnerships, to solidify their foothold in an already booming cannabis industry.
Even though America still hasn’t achieved legalization on a federal level, the cannabis business continues to thrive.
12% of all Americans are active marijuana users.
Cannabis sales across the nation increased 67% in 2020. Support for legal cannabis is currently at 68% (an all-time high).
This industry is growing at a compounded annual growth rate (CAGR) of 14.3%, which means it will be worth over US$71 billion in 2028. This is almost 3x what it is worth today.
Let’s take a look at how Humble & Fume is capitalizing on all things cannabis: past, present and future.
Fire & Flower
Of course, Fire & Flower will now offer a healthy catalogue of Humble’s product portfolio.
Presuming you’ve already got the lowdown on everything you need to know about Humble & Fume Inc, we’ll start with F&F. Fire & Flower is an independent, adult-use cannabis retailer. They are primarily focused on the Canadian market, though they’re actively eyeing international expansion opportunities.
Fire & Flower’s retail locations come with high-level retailing and education-forward customer service. Matching cannabis expertise with refined retail experiences is the perfect atmosphere for Humble & Fume’s products.
Additionally, F&F’s digital platform HifyreTM further helps connect consumers with all products offered, including the Humble products they will be selling.
Hifyre’s platform will indeed be leveraged within this strategic supply agreement.
As if Humble’s titanic reach wasn’t enough, any consumer who visits Fire’s website will be exposed to a wide range of Humble’s products. With the option of in-home delivery or customer pickup, all orders of Humble’s products will be sent from one of the various warehouses Humble owns across Canada and the U.S.
“With ‘Spark Perks’ membership at the center of the offering, this agreement serves to deepen our relationship with our customers and speaks directly to our growth strategy within the Canadian market and beyond. Humble’s assortment will add more than 5,000 new SKUs making us a one stop destination for North American customers,” said Nadia Vattovaz, Chief Operating Officer, Fire & Flower. “With our industry leading Hifyre IQ data and analytics platform, we have access to industry leading insight into consumer preferences and can deliver the most compelling product assortment. Expanding the Spark Perks program to the cannabis accessories consumer will further drive digital engagement. This agreement meaningfully expands our accessories offering with minimal capital investment due to the support of an exceptional partner.”
Humble & Fume
Humble’s unique position as the largest integrated cannabis distribution solution proves they have their hands in all the right places, ready for when the U.S. federally legalizes the plant.
Licensed producers (LPs), multi-state operators, and cannabis customers themselves. It’s not often you come across a company that serves all these client-bases.
To break it down, Humble & Fume Inc. has three key pillars of business.
- Distribution: Humble distributes cannabis accessories all across North America. Not only do they benefit from this, but the data they use from distribution activities is strategically taken in mind to optimize the performance of their own in-house products.
- Extraction & Formulation: Humble wholly owns its subsidiary, Fume Labs. Fume labs designs and operates everything for this cannabis concentrate business.
- Sales: HumbleCannabis Solutions, another wholly owned subsidiary of Humble, is one of the only sales forces in Canada able to provide a complete, top-to-bottom solution for retailers who are selling accessories from various cannabis brands.
With such a multi-faceted approach to a swiftly growing industry, we look forward to seeing what Humble has in store for the years to come.
Stay tuned to learn more about Humble’s journey as we continue to highlight their impressive debut on the public markets.
Disclaimer: Humble & Fume Inc. is an Edge Communications Client, and we own shares in the company. [/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]