Introduction
In a surprising move, Tilt Holdings has recalibrated its partnerships in the marijuana industry, sparking discussions and debates in the sector.
The Nuances of ‘Social Equity’
Both MJBiz and Green Market Report have used the term “social equity brands” to describe some of Tilt’s former partners. Yet, true social equity in the cannabis sector usually involves supporting individuals and communities adversely affected by past drug policies. A partnership with an entity led by a black individual doesn’t inherently equate to “social equity.”
Strategic Decisions Lead to Severed Ties
Tilt has chosen to discontinue its associations with two prominent brands:
- Highsman: Spearheaded by former NFL star and Heisman Trophy recipient, Ricky Williams.
- Black Buddha Cannabis: Created by Roz McCarthy, this brand harmonizes lifestyle and wellness.
Tim Conder, the interim leader of Tilt, shared that these decisions sprouted from an understanding that these brands might not sync with Tilt’s envisioned trajectory. He further elaborated that Tilt might not be the ideal ally to furnish the kind of support these brands are seeking. Nevertheless, Tilt remains dedicated to ensuring a seamless transition for these brands.
The Underlying Dynamics
The alliance between Tilt and Black Buddha blossomed under the stewardship of Gary Santo, Tilt’s preceding CEO. The abrupt shift in Tilt’s stance took McCarthy, the dynamo behind Black Buddha, by surprise. McCarthy echoed sentiments suggesting Tilt might be indirectly conveying a message by detaching from a black-led brand and another that amalgamates diverse leadership.
Other Ventures Under the Microscope
Tilt’s collaborative endeavor with the Shinnecock Indian Nation currently finds itself under rigorous scrutiny. Their shared vision in 2021 was to inaugurate a collaborative marijuana venture, Little Beach Harvest, in Long Island. Despite Tilt’s assurances of robust involvement, this venture’s fate now hangs in the balance due to emergent challenges in New York.
Conclusion
Tilt’s recent strategic pivots have catalyzed a myriad of perspectives within the industry. As the firm repositions itself for its future journey, its actions shed light on the intricate dynamics of the cannabis business arena.
