Billionaire entrepreneur, Jay-Z has announced his plan to create a new cannabis line – Monogram.
Jay-Z has partnered with Caliva, a California-based cannabis company, to create Monogram. The new brand will be defined according to Caliva CEO Dennis O’Malley by humility and accountability.
So far there is little information on the products, except glossy pictures online. However, according to the Monogram website:
“Monogram marks a new chapter in cannabis defined by dignity, care and consistency. It is a collective effort to bring you the best, and a humble pursuit to discover what the best truly means.”
In recent years, a diverse range of celebrities have turned their eyes towards the ever-growing cannabis and CBD market. Everyone from Whoopi Goldberg to Martha Stewart to Kristen Bell is cashing on the surge in popularity. It’s expected that both the cannabis and CBD industries could be worth billions by the middle of this decade.
While cannabis is still a prohibited drug in many places both in the United States and Europe, efforts are being made to legalise it. A strong trend towards liberalisation of cannabis has made entrepreneurs such as Jay-Z hopeful they can benefit from it.
Though we may have to wait for Monogram to hit the shelves, you can console yourself for now with a Tidal playlist entitled Monogram: Sounds from the Grow Room.
The UK has seen a huge growth in new private label CBD brands emerging endorsed by high profile sports and music stars. Some have been hugely successful and others like Ignite have fallen from grace.