Red White & Bloom Brands is making a name for themselves not just in Michigan, their primary investment base, but across the U.S. as they expand and acquire new companies and licenses. However, far from being seen as an external corporate force, Red White & Bloom fit in with their mom-and-pop ethos and their attention to company culture wherever they go.
In part, Tyler Troup, an advisor to the Canadian-based company, attributes this success to persistence, slowly and steadily acquiring companies to expand their name. Most notably, they recently became the owners of the well-established vape company Platinum Vape of California, whose products are available in three states, and soon to be four, with the announcement of expanding into Arizona on the eve of recreational cannabis becoming legal. But their investments in the cannabis arena started with Michigan.
“Our biggest investment is in Michigan,” said Troup. “I think one of the reasons that market sometimes gets overlooked is, there are still a whole bunch of fragmented operators. The recreational industry is still fairly new, and things are still getting up and running.”
“Michiganders are very modest; they’re very wary of big business and stuff like that,” he said. “But, once you show them that if you visit a store where you can get the same level of quality at a reasonable price, and that boutique feel, then they are comfortable regardless of the brand on the sign. RWB is not trying to take over the world; they just wants all of their investees and licensees to offer the same kind of consistent quality every time.”
Further Expansion On The Horizon
The company’s investments, whose primary investee started with two stores in 2019, quickly grew as they expanded and built new relationships, and now sits at eight dispensaries open with ten more in the pipeline.
“It just started growing organically,” he explained. “We continued to grow the business, acquired Platinum Vape, and did our exclusive flower deal with High Times. And then we acquired that license in Illinois. But, despite all of our growth, we’re really excited about the Michigan market. The market is not really talked about, and it is huge in terms of a consumption basis. A lot of people have medical cards, and now there’s a recreational industry coming online.”
In addition to focus on expanding and acquiring, the team and Red White & Bloom has done so well because of their attention to quality and standards.
“Our management team is from Canada, where the federal quality standards are super, super high when it comes to purity and consistency. And so we kind of brought that mantra to our operations with us, in the brands that were established. We hope to have a big retail presence in Michigan in 2021 and bring that discipline to that market as well.”
As the recreational market continues to establish itself in Michigan, and in many places across the country that have recently legalized, Red White & Bloom continue to expand and plan for the future, and continue to expand and bring more brands into the company.
In addition to all this growth and expansion, they’re also taking corporate responsibility very seriously this year, as they have in the past. With the addition of a team member to head up their corporate social responsibility initiatives, they plan to take things a step further in 2021. They plan to get involved with supporting initiatives that provide funds to marginalized people starting businesses in Michigan, along with other pursuits that lead to a productive and healing company footprint.
“What we want to do is be much more involved in the community, much more involved in social equity, and much more involved in just overall philanthropy in the state,” said Troup.
For more information, visit redwhitebloom.com.