Now that High Times have made a complete pig’s ear of their cannabis retail play maybe this move by Cheech & Chong will steal their thunder. Let’s see how it plays out and we hope that in 12 months time we won’t be using the “Up In Smoke” pun in a headline to announce the deal’s demise. A quick look at Five Point’s Linked In contacts shows a team top heavy with lawyers which leads us to believe they might actually read their documents before going into deals unlike another famous 1970’s cannabis branded company in the headlines over the past week.
Celeb Stoner reports…
June 30, they (Cheech & Ching) announced a deal with Five Point Holdings to open Cheech & Chong dispensaries in five states – Arizona, California, Illinois, Nevada and Washington.
LATF USA write……The Daytime Beauty Awards’ Zen Award honoree and Godfather of Cannabis, Tommy Chong of “Cheech & Chong” has entered into dispensary license with Five Point Holdings Inc. and partnered with Cheech Marin to develop a five state dispensary chain.
Five Point Holdings Inc. is a diversified cannabis branding company with decades of dispensary retail, branding, and media experience is pleased to announce its licensing agreement (the “Agreement”) with Cheech & Chong’s management company to license the Cheech & Chong Brand to initially open dispensaries in California, Nevada, Arizona, Illinois and Washington.
The license will allow the company to develop experiential cannabis dispensaries utilizing the Cheech & Chong brand name. “There are a handful of names and brands recognized by everyone around the world and the Cheech and Chong brand is one of them.” says Paris Chong, Director at Five Point Holdings and manager of his father Tommy Chong. As part of this licensing agreement, the dispensaries will feature cannabis products from both Tommy Chong’s Cannabis and Cheech’s Stash brands.
Inside the dispensary will feature a one of a kind retail experience with offerings from the best cannabis brands, an updated but nostalgic throwback commemorating Cheech and Chong, and for the first time ever, a place to purchase Cheech and Chong clothing and memorabilia. Jeremy Abrams, the company COO said, “It’s time the cannabis retail shopper is offered a new experience with familiar names and brands. We’re excited to create that for all of the Cheech and Chong fans around the world”
“Cheech and I have waited patiently to find the right combination of talent and the right team to trust with the Cheech and Chong properties. We both pursued our own individual projects knowing if the right opportunity came along we would do something with our Cheech and Chong brand and with Five Point Holdings Inc. we have the winning combination,” said Tommy.
“The Cheech and Chong movies, songs and comedy bits have helped shape and mold the weed culture as we know it today. Now we’re bringing that trusted, funny and familiar cannabis comedy experience into the store environment,” Cheech added.
Danny Keith, President of Five Point Holdings Inc. said, “Our company is well positioned to take this legendary brand and develop experiential dispensaries utilizing the decades of cannabis infused content and branding for which Cheech and Chong have become known. The executive team we have assembled is second to none.”
https://www.latfusa.com/article/2020/6/tommy-chong-five-point-holdings-to-open/
