1933 Industries Inc. (OTCMKTS:TGIFF) announced addition of pre-joint rolls and high-quality smokable flowers to its growing consumer brand portfolio. The company’s AMA brand will capitalize and fill the market gap for craft-style premium weed cultivated at scale.
May sales in Nevada surge
In-store sales resumed in Nevada in May as dispensaries opened their door to customers following closures due to COVID-19. There was a 52% surge in sales compared to April when the dispensaries operated through curbside pickup and home delivery. BDS Analytics indicates that May sales hit $58.2 million, although this was a 6% decline relative to May 2019. However, sales remained strong, and hit $273.2 million since the beginning of this year,
The company’s president, Eugene Ruiz, indicated that the impressive figures demonstrated that the Nevada pot market stayed strong amid the COVID-19 pandemic, and the cannabis flower market was growing. From the BDS data, cannabis flower sales were around 52% of the total sales, increasing 19% YoY to $30 million. On the other hand, pre-joint rolls accounted for around 9% of sales in May at $5.5 million. In the past two years, the company has concentrated on wholesale cannabis concentrating, which accounts for 25% of total sales in Nevada.
1933 Industries to focus on the smokable flower
Ruiz stated that they are ready to venture into the smokable cannabis flower market with a differentiated high-quality product offering. He added that in last two years, they have been building ultra-modern indoor cultivation facility that focuses on growing craft-style marijuana at scale. Most importantly, he confirmed that the past struggles of the company are forgotten now. They have now attained a huge milestone with significant inventory to offer to their 53 dispensary accounts.
1933 Industries has introduced high THC cultivars in indoor facility, with around 6,000 plants already planted. They expect to get around 500 pounds of biomass every month with 350 pounds of total biomass converted into smokable cannabis flower and the rest into concentrates.
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