- Red White & Bloom, a multi-state operator in cannabis and hemp-derived product lines, has built a platform to strengthen its brands, enabling it to wade through the difficulties of increasing product commoditization
- The company expects to showcase the results of the buildout process in the coming months
- RWB is also committed to fostering public and local input, equitable leadership opportunities, and removing systemic structures that marginalize segments of society
A Boston Consulting Group (“BCG”) article entitled “Escaping the Doghouse: Winning in Commoditized Markets” notes that a company needs a clear roadmap that shows how it can reorganize itself for the future. This roadmap, it continues, is instrumental in helping the business stay a significant margin ahead of the changes brought about by commoditization, which is described as the situation where consumers deem products as substitutable. (https://cnw.fm/mvpO4).
Commoditization has led to the failure and bankruptcy of companies that failed to adopt. At the same time, however, it has triggered the success of organizations that took a more successful approach. To help companies achieve the latter outcome, the BCG article recommends a few strategies. Most notably the write-up suggests that businesses should:
- Identify winning business models
- Resegment operations by the market environment versus by product type or region
- Project the future sources of advantages
Separately, a Forbes article notes that companies that espouse social good, appealing core values, and sustainability, are bound to stay ahead in a commoditized market. Quoting a 2017 CSR study conducted by Cone Communications, the article notes that 89% of the Americans polled in the survey would “switch brands to one that is associated with a good cause, given similar price and quality” (https://cnw.fm/KqgQF).
For Red White & Bloom Brands (CSE: RWB) (OTCQX: RWBYF), a company positioning itself to be one of the top three multi-state operators in the United States in cannabis and hemp-derived product lines, the dynamics of commoditization within the cannabis industry is rather clear. To that end, the company has adopted a strategy anchored in operating a house of brands and corporate social responsibility (“CSR”).
“As we close off Q4 2021, we are working diligently to thread all our strategies together and stand up our brands,” said RWB CEO Brad Rogers in his closing remarks during a November corporate update call that accompanied the release of the company’s Q3 2021 financial results (https://cnw.fm/pgnxR). “This is going to be a commoditized market, and our strategy is such that we are going to stand on our brands going forward. We just need to fortify what we are doing in the markets that we are in right now. We have created a platform to be able to do that, and we are looking forward to Q4 2021 and Q1, Q2, 2022 to really show what we have built.”
Last year, RWB consolidated its status as a house of brands through various strategic moves, including the January acquisition of Platinum Vape, a leading vape brand with a portfolio that also includes gummies, chocolates, and premium cannabis flower. Presently, and as a result of this acquisition, Red White & Bloom’s portfolio comprises High Times, Platinum Vape, and Mid-American CBD.
“This company has been building… and we’ll catch up with respect to where we want to be. So, when we look across 2021, the new acquisitions, the markets, etc., we’ve been building towards that. We have now set the stage in the form of infrastructure to start reporting all revenues and assets of these businesses, most of the one-time expenses and large non-cash items are behind us, putting us on solid ground in 2022 and beyond,” Brad further noted.
In addition, RWB is committed to world-class standards in Environmental Impact, Social Justice, and Corporate Governance (“ESG”). Guided by the tagline “It’s our time to BLOOM (an acronym that stands for Build, Lead, Overcome, Optimize, Mentor),” the company is fostering public and local input, equitable leadership opportunities, and removing systemic structures that marginalize, while also working to reduce the number of people imprisoned with non-violent cannabis offenses (https://cnw.fm/oRRfm).
For more information, visit the company’s website at www.RedWhiteBloom.com.
NOTE TO INVESTORS: The latest news and updates relating to RWBYF are available in the company’s newsroom at https://cnw.fm/RWBYF
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The post Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), Building a House of Brands, Is Creating World-Class Standards for Environmental Impact, Social Justice, and Corporate Governance, to Navigate Increasing Commoditization in its Market Segment appeared first on CannabisNewsWire.