IRVINE, Calif., Aug. 09, 2022 (GLOBE NEWSWIRE) — Petalfast, a route-through-market platform for the cannabis industry, announced its expansion into the Michigan and Massachusetts legal cannabis markets, with an anticipated launch in Fall 2022. The Company’s sales and retail engagement services help emerging and growing cannabis brands sell-in and sell-through retail channels in competitive markets. With proven success in California, Petalfast will help cannabis brands achieve rapid growth in the expanding, competitive East Coast markets.
The US cannabis market has experienced rapid growth, with 9 in 10 Americans now living in states where they can access legal cannabis through state-regulated programs. These same programs continue to expand licensing access, leading to an increase in competition across the country. To help brands combat this in the race for scale, Petalfast is reimagining route-to-market and distribution strategies for cannabis brands nationally, arming them for a hyper-competitive landscape. Petalfast’s expansion into Michigan and Massachusetts offers their California brand portfolio opportunities for new market expansion, new store distribution, and engagement at the retail level to maximize sell-through. The Company is also building supply chain partnerships in the region to supplement brand production and manufacturing needs.
“The Michigan and Massachusetts markets are the Californias of the East Coast, so the decision to expand our presence in these states was a natural one,” he said Petalfast CEO Jason Vegotsky. “As a company, we believe that people make us successful, so one of our top priorities is to recruit the most qualified, passionate, and authentic local teams to build strong relationships with trusted partners. This foundation sets us up to provide our two customers – the brand and the retailer – with the best services to scale their businesses. These launches are an important step in Petalfast’s expansion as more brands look to establish a national presence, and we are excited to continue growing nationwide alongside this industry.”
Petalfast’s Michigan team will be led by General Manager Brandon Riley, who previously served as the Director of Sales at Viola Brands and Sozo Companies Inc. Riley brings a decade of sales, marketing, and retail operations leadership in the Michigan cannabis market and will lead Petalfast’s partnership and relationship-driven approach to building a strong and scalable portfolio and retail network in the state. Riley stated, “Michigan is an exciting market, and I look forward to continuing to support brands founded here and others new to the state.”
In Massachusetts, Petalfast will first bring brands to life through its statewide Field and Trade Marketing team. The retail engagement services support sell-through at retail and include in-store demos, vendor marts and events, consumer and budtender training and education, and more. Additionally, after a successful rollout in California, Petalfast will serve multi-state brands in the Massachusetts market.
Petalfast is the first-of-its-kind route-through-market platform for the cannabis industry. Petalfast helps cannabis brands achieve rapid growth via its go-to-market accelerator program in California and through its full spectrum of agency services available to brands nationally. Notable cannabis brands already engaged in the Petalfast platform include Space Coyote, Emerald Sky, Bloom Brands, and Yada Yada. The Company, through its incubator program Pilot by Petalfast, also provides new and recently launched brands with direct access to leading retailers and opportunities to gain first-hand market analysis, while also offering select retailers the opportunity to see future brands before they formally hit the market. Petalfast is taking its business model and expanding into newer, competitive markets.
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