The Parent Company has announced that Josephine & Billie’s will be the organization’s first social corporate equity venture fund investment.
The Parent Company is the West Coast’s leading vertically integrated cannabis producer. Josephine & Billie’s is a Los Angeles-headquartered cannabis brand and retailer.
Josephine & Billie’s, founded and governed by women of color, fills a void for that demographic in the L.A. marketplace. The company’s foundation wants to be an educational retail experience for women of color.
With the newly announced support of The Parent Company, Josephine & Billie’s expects to launch its first retail shop before the end of 2021. Neither party has released the financial terms of the investment.
Josephine & Billie’s wants to create a shop that’s equally speakeasy and retail. The company’s taking a cue from the Jazz Age. Going back to the 1920s and 1930s, when black communities entertained themselves at “tea pads,” listening to jazz and enjoying weed.
History sees those times as historic, when everyone had a space to interact, black or white. To connect in a safe, relaxed environment during a period where such actions led to dangerous reactions.
Josephine & Billie’s is curating these plans around their product and the needs of women of color. There will be a range of POC-owned products and brands developed and produced by women. The inventory will also include products from The Parent Company’s popular portfolio.
“We are committed to using our resources and leadership position to play a significant role in molding a more inclusive cannabis community,” Parent Company CEO Steve Allan said in a statement.
