Jay-Z Launches Cannabis Brand Monogram With Exclusive $ 50 Joint

by Team Inc.

2020-12-11-Jay-Z launches cannabis brand Monogram with exclusive $50 joint

Jay-Z launched its high-end cannabis brand Monogram yesterday in California. The greatness that has built a fortune in the music, alcohol, art and real estate industries is also increasingly diving into the green gold. Monogram it is! It comes to the market with a line of four artisanal, indoor-grown cannabis flowers and pre-rolled joints.

The company's flagship product is the OG Handroll, a 1,5 gram joint that is rolled by hand. The joint is made in small batches and should burn like a $ 50 premium cigar.

Four types of weed in light, medium and heavy

Monogram's cannabis strains - named No. 88, No. 96, No. 70, and No. 01 - come in three strengths: light, medium, and heavy. The Light Up product line includes flowers, pre-rolled joints and the premium OG Handroll. Michael Auerbach, the founder and chairman of Subversive Capital Acquisition Corp. (SPAC) which announced a deal last month to acquire California cannabis company Caliva and thus Jay-Z's Monogram, says Jay-Z isn't just a frontman for the brand. “He's a real manager, he's not a side ambassador who says something nice about us once a year,” says Auerbach. “He is the tip of the iceberg building our house of brands, as he has done with Aces of Spades and D'Ussé.

Mongram No. 88

Caliva Cannabis

In 2019, Jay joined Caliva as the main brand strategist, where he developed Monogram. In November 2020, Auerbach's SPAC announced a deal to acquire Caliva and Monogram, a joint venture between Jay-Z and Caliva, and Left Coast Ventures, which owns musicians from cannabis brands such as Marley Natural and Carlos Santana's Mirayo. The deal is not yet fully closed. The new name for Auerbach's company is 'The Parent Co.' It raised $ 575 million when it went to Canada's microcap scholarship NEO last summer.

In addition to developing brands and business strategies, Jay will lead the social justice program. The venture capital fund has raised $ 10 million and the company will donate 2% of its net income each year to invest in Black and other minority-owned cannabis companies.

Auerbach describes Jay-Z as a creative genius. For The Parent Co. Monogram is just the first brand from Jay-Z's mind and more to come. In the world of celebrity-built brands, Auerbach says the strategy around Monogram is more Casamigos — George Clooney's tequila company that Diageo bought for $1 billion — and less Martha Stewart CBD.

Celebrities in alcohol and cannabis

“My preference is to associate celebrities with brands instead of naming it after themselves. I would never drink it if it was called 'Casa Clooney' - people would think it's bullshit, people would think it's a gimmick, ”says Auerbach. "A lot of people don't know that Ace of Spades is Jay-Z's champagne company, but it is the fastest growing champagne company."

"Cannabis has been around for thousands of years, but it is still an industry where skilled craftsmanship is often overlooked," said Jay. “I created Monogram to give cannabis the respect it deserves by showing the tremendous hard work, time and care it takes to create a superior smoke quality. We have only just started. ”

Read more forbes.com (Source, EN)

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