Aphria Inc. is stepping up its marketing efforts to target the adult-use cannabis market, through a proposed joint venture with marketing and brand development company Perennial Inc.
The companies today announced a Letter of Intent to form a JV that will see the companies collaborate on the development of new products, brands and product categories, according to a news release issued by Aphria.
Perennial lists Royal Bank, Loblaws, and the American based Coca-Cola and Home Depot among its clients, the former two companies being listed on the New York Stock Exchange.
The company says it “drives clients’ sales” though “innovative thinking and storytelling.”
“We’re already moving the needle on what the cannabis industry is going to look like, not just one year from now, but in five or ten years,” said Aphria CEO Jakob Ripshtein.
The announcement comes at a time when cannabis companies are attempting to differentiate their products in order to drive sales, without running afoul of federal rules on the promotion of cannabis products.
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