As the buzz around cannabis legalization in different jurisdictions gathers steam, savvy entrepreneurs are cashing in by bringing innovative marijuana accessories to the market. “Higher Standards” is one such store that is cashing in on the heightened interest in marijuana.
The store is housed in the prestigious Chelsea Market in Manhattan. Higher Standards caters to foodies and tourists who want a gift or a rare cannabis accessory as they head off to jurisdictions where marijuana consumption is legal.
One of the most expensive and rare cannabis accessories that you can buy at this store is a glass pipe shaped like a skateboard. This pipe goes for a cool $6,000. Cannabis infusers, cannabis rolling papers and glass containers for matches are other products you will find when you visit this high-end establishment.
Higher Standards has been in New York for more than a year. How can this be possible when recreational cannabis is yet to be legalized?
Sasha Kadey, the chief marketing officer of Higher Standards, explains that the company doesn’t touch the cannabis plant, so it enjoys some leeway that wouldn’t have been possible if Higher Standards was handling cannabis directly.
In New York, there seems to be a silent policy through which such companies that don’t “touch the plant” get a wink and a nod to continue conducting their business. The same mischievous wink is extended to customers who buy the accessories on offer as they are told that the products are for “tobacco use only”.
That knowing wink seems to be bringing good tidings of what is to come for Higher Standards since the store set its own single-day sales record on Black Friday, then went on to crash that record on December 8.
With things looking up, the store has plans to open five more locations, including one that will be in Atlanta. The Atlanta one is expected to open just in time to cash in on Super Bowl Sunday.
Meanwhile, New York is in advanced stages of legalizing recreational cannabis. This move will bring more fortune in the way of dealers of accessories, like Higher Standards. For example, word is that MedMen intends to open an outlet just outside Chelsea Market. This will bring cannabis customers right to the doorstep of Higher Standards, and sales are expected to soar.
Before that happens, however, people seem to be snatching accessories off the shelves of the outlet and business is booming. That seems to be what happens wherever cannabis is permitted. Cannabis Strategic Ventures, Inc. (OTC: NUGS) and Canopy Rivers Inc. (TSX.V: RIV) say kudos to Higher Standards for contributing to cannabis culture.
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