Bhang Corporation is one of the most trusted brands of cannabis products having an extensive portfolio of more than 100 cannabis products, including hemp-derived CBD or cannabidiol as well as terpene products. The company won the first place of the Best Cannabis-Infused Chocolate products during the WeedCon 2019.
Cannabis experts have referred to the company’s expansion as the “Big Bhang” having sold more than a hundred cannabis products, including hemp-derived items, such as CBD chocolate bars, vaping devices, and pre-rolled joints. The company sold these products to more than a thousand shops across ten countries worldwide.
According to Scott Van Rixel, the founder of the Miami-based company, their goal is to build a worldwide brand in the legal cannabis industry. In fact, they recently went public on the Canadian Stock Exchange market.
Opportunities in the Legal Cannabis Industry
Van Rixel was a trained chef who worked with upscale retailers in the past, such as Whole Foods and Dean and Deluca. He started the company back in 2010 after visiting some of the cannabis edible producers in California. He saw cannabis edibles being sold on Ziploc bags without any nutritional indication regarding dosing consistency. This is what pushed him to establish his own company. He saw a great opportunity in the legal cannabis industry and decided to start his venture.
The team of Van Rixel started by identifying various customer segments. From this, they created their own brands based on the needs of the various segments they have identified. Van Rixel knows that a 67-year-old medical cannabis user would have different needs from a first-time user of cannabis and he intends to cater to the different needs of the market.
Nowadays, the company has eight different brands of products under the Bhang umbrella company. These include CBD, THC, and terpene products.
New Product Development
The company is continuously looking at new product development from different perspectives. First, they took into consideration the macro trends, such as the industry of beauty and wellness that has access to a large budget for research. Van Rixel would figure out the type of product that the market is demanding and would try to provide such products. For instance, there’s now a new focus on terpenes, which is a component of marijuana and hemp. Van Rixel emphasizes in-house research about the different flavor profile trends across different demographics.
Currently, Bhang is on the process of introducing new brands based on the extensive research they have done and used their products to offer traction into several countries all over the world. They have also partnered with Oceana Coffee and aim to create CBD-infused coffee products marketed under the brand name Rost. In line with this, they also plan to produce terpene coffee products under the brand name “Cosmic Terp.”
The company prides itself for applying the aggressive growth through acquisition strategy, which includes numerous strategic acquisitions and partnering with different ventures that are leaders and experts in the legal cannabis industry.