From CNBC: 2024-08-31 08:00:01

A new high-end marijuana dispensary, The Travel Agency, has opened on Fifth Avenue, marking a shift in cannabis consumption. With over $100 million in legal cannabis sales in New York last year, 166 dispensaries, including 50 in NYC, are fighting illicit shops. The Travel Agency specializes in luxury, donating proceeds to nonprofits.

The Travel Agency is targeting a new demographic of “canna-curious” consumers, like women in their 40s. Unique product offerings and an inviting atmosphere attract customers seeking a legal, high-quality cannabis experience. Cann, a THC seltzer brand, appeals to hesitant consumers with low-dose options, emphasizing approachability and design.

Luxury cannabis products are on the rise, from high-end THC seltzers to designer home decor items. Celebrities like Seth Rogen and lifestyle brands like Edie Parker offer stylish smoking accessories at premium prices. Dispensaries like The Travel Agency are becoming hubs for fashion brand partnerships to tap into the coolness of the booming cannabis industry.

THC seltzer company Cann, backed by Gwyneth Paltrow and Baron Davis, targets premium consumers, competing with alcohol in luxury settings like the Montauk Surf Lodge. The brand aims to appeal to millennial consumers with an upscale experience. The Travel Agency also focuses on luxury consumers, anticipating further growth in New York’s legal cannabis market.



Read more at CNBC: Cannabis industry targets luxury consumers in New York