Barneys New York, Beboe Partner To Sell Cannabis Lifestyle Products; Co-Founder Shares Details

When The New York Times featured the upscale cannabis brand Beboe, they dubbed it “The Hermès of Marijuana.”

It's no surprise, then, that this is the brand that's struck a deal with the emblematic retailer Barneys New York to launch a “luxury cannabis lifestyle and wellness concept shop.”

The store in question, The High End, will open its doors in Barneys New York’s Beverly Hills store in March, offering a wide array of accessories and lifestyle products from Beboe and other top brands like Saint Jane and Foria — albeit with no actual marijuana for the time being. Some of these products will also be available on Barneys.com.

“The paraphernalia collaborations will all be available there in the store for immediate purchase,” Beboe co-founder Scott Campbell told Benzinga.

“We technically can’t sell cannabis products there in store, but there will be products displayed, and our representatives will be there educating people about Beboe, and helping them place orders for immediate delivery of products nearby.”

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Barneys New York and Beboe said they have plans to open more High End stores in the near future.

Talking about the new partnership, Barneys New York CEO Daniella Vitale noted how the company “has always been at the forefront of shifts in culture and lifestyle,” adding that cannabis would be no exception. “Many of our customers have made cannabis a part of their lifestyle, and The High End caters to their needs with extraordinary products and service they experience in every facet of Barneys New York.”

The Deets

We asked Beboe's Campbell why his brand picked Barneys New York — and vice-versa.

“Barneys has a long history of pushing the boundaries of retail,” Campbell told Benzinga. “They truly appreciate the cannabis movement as an irreversible cultural shift and want to help elevate how we engage with it to a higher taste level.”

How does this partnership impact the wider cannabis industry? And how does it change the luxury cannabis landscape?

“This project firmly defines and shows the world what luxury cannabis culture looks like,” he said.

“Just putting the words 'cannabis' and 'Barneys' in a single press release has shifted the spectrum of cannabis culture into a more evolved direction. I can't wait until next month when people can come walk through it and see it and touch it. This will be an important point of reference for all cannabis retail.”

The Sympathy Stock Move

Last week, Green Thumb Industries Inc (OTC: GTBIF) announced that it signed an agreement to acquire For Success Holding Co., owner of the Beboe brand.

Ben Kovler, GTI’s founder and CEO, said Beboe "is the perfect example of an authentic, visionary brand and is an excellent addition to GTI’s brand portfolio. We are thrilled to have the collective creative genius of Beboe founders Scott Campbell and Clement Kwan and their incredible team join the GTI family.”

Beboe co-founder Kwan said that merging with GTI gives the company “an incredible multistate platform and opportunity to fully grow Beboe and the slate of new brands, products and collaborations that we envisioned when starting For Success Holding.”

Shares of Green Thumb Industries have traded up more than 12 percent since the announcement.

Related Links:

CannaRegs Closes Seed Round To Expand Nationally And Beyond Cannabis

Survey: Despite Marijuana Legalization, Canada Sees No Change In Number Of Consumers

Photo courtesy of Barneys.

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