Exclusive Interview with Greenlane Co-Founder and CEO Aaron LoCascioCannabis accessories distributor Greenlane Holdings (NASDAQ: GNLN) launched its IPO last April. Today, the ancillary company is continuing to grow through its different business segments. Co-Founder and CEO Aaron LoCascio spoke with New Cannabis Ventures about Greenlane’s different revenue channels, its diverse customer base and building a sustainable business. The audio of the entire conversation is available at the end of this written summary.
LoCascio discovered his first vaporizer during a trip to California in 2005. Intrigued by the technology, he learned more and decided to pursue a business opportunity. His fellow Co-Founder Adam Schoenfeld created a similar business around the same time, and in 2010, the pair decided to merge their companies and diversify their long-term strategy. Schoenfeld now serves as Chief Strategy Officer of Greenlane.
LoCascio and Schoenfeld work alongside a full C-suite team that leads approximately 275 employees at Greenlane. The team will continue to grow as the company considers different initiatives, but the uncertainty created by the pandemic means that leadership will take a thoughtful approach to which positions to fill and how quickly, according to LoCascio.
Greenlane’s Revenue ChannelsGreenlane focuses on four primary revenue channels: B2B consumer packaged goods, direct-to-consumer packaged goods, drop-ship and supply and packaging. In the B2B segment, the company sells a wide variety of third-party brands, as well as its house brands like Marley Natural and Vibes. It sells the same products in its second revenue channel directly to consumers.