• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • News
  • Lifestyle
  • Wellness
  • Cuisine
  • Product Reviews
  • Subscribe
Cannabis News and Culture Magazine

Cannabis News and Culture Magazine

Cannabis News and Culture Magazine

Emerald Media News Subscription
  • Print Magazines
  • 100+ Minority-Owned Companies to Support
  • No Pipe, No Problem
  • Blunt vs. Joint
  • The Cost of Cannabis in Each State
  • Calculating Your Edibles Dosage
  • Flintts Mouthwatering Mints

After ‘Reconstruction,’ MedMen Aims to Make its Mark on the New York Cannabis Market

January 30, 2021 by John Laudani Leave a Comment

shallow focus photography of green leaves

MedMen, a California-based retailer, understands the fickle nature of the state of cannabis in New York. 

In 2018, CEO Adam Bierman told CNBC, “I am so excited about the state of New York, there has been a lot of chatter nationally lately about legalizing marijuana… This is impossible unless the laws allow us to do what we do.”

To the original co-founders, Bierman and Andrew Modlin, the cannabis market was too lucrative not to invest in. Now, they own factories and stores across the country. In 2018, MedMen acquired medicinal cannabis distributor, PharmaCann, at a record-breaking sale of $682 million.

Bierman and Modlin began their journey of creating MedMen to destigmatize negative conceptions about cannabis. In the six states where MedMen holds a retail store — including New York — they aimed to represent cannabis’ positive aspects. In the state, they sell with a medical license to lawfully control their distribution of products. The brand showcases some of their in-house items, like their brand-owned cartridges for wellness, harmony, or sleep, as products that help patients who need this medicine.

New York is in a situation where companies can only sell cannabis to medical patients, and not in plant form. There are many rules and regulations within the state. So to have a nationwide dispensary like MedMen set up shop in the state can be representative of the plant’s future.

 

Cannabis in New York

New York Gov. Andrew Cuomo recently announced his desire for the state to legalize the plant in 2021. After many failed attempts to legalize, he remains hopeful this time. The brightening prospects legalizing cannabis might bring can help New York thrive. 

In a press statement, Cuomo has said that, “Not only will legalizing and regulating the adult-use cannabis market provide the opportunity to generate much-needed revenue, but it also allows us to directly support the individuals and communities that have been most harmed by decades of cannabis prohibition.”

The cannabis industry is seeing record high sales across the country amidst the current novel coronavirus pandemic. In September 2020, for example, cannabis sales increased 38% from 2019, according to BDSA — an industry intelligence platform. 

If legalized in 2021 in New York, the state could see an increased tax revenue of $300 million per year, according to Cuomo’s State of the State address. 

 

MedMen’s Rocky Road to Success

MedMen has been a dominant force in the cannabis industry in the U.S. But at some point in 2019, there were claims of unethical practices against the corporate divisions of the company. A scandal began to brew when former MedMen CFO, James Parker, filed a lawsuit against the company’s cofounders, Bierman and Modlin, for discrimination and inappropriate language.

According to MJ Biz Daily, Parker’s lawsuit stated that, “Over time, working at MM Enterprises evolved from miserable to intolerable. By way of example, CEO Bierman and President Modlin’s persistent and pervasive misconduct during the term of Mr. Parker’s written agreement was offensive and at times unlawful.” 

Parker accused the founders of making racist, homophobic, and misogynistic comments. The New York Medical Cannabis Industry Association (NYMCIA) stripped MedMen of their partnership. Because of the accused behavior, they and no longer consider MedMen part of the organization. 

The NYMCIA and its members push to legalize cannabis recreationally. That’s still their goal, but MedMen is just no longer a part of it. 

The ParmaCann acquisition was upended and reversed in 2019. So MedMen’s goal to bring their inclusive views of the plant to a nationwide audience was no longer achievable by those means. 

Following that failed transaction, MedMen finances began to struggle. This resulted in the original CEO, Adam Bierman, stepping down amid a financial crisis within the company, according to a press release from MedMen. 

Due to varying lawsuits, financial struggles, and the exit of a few executives, MedMen heavily reconstructed their brand. 

 

Restorative Justice in The Cannabis Industry 

The recent social justice movement in America has brought to the forefront the prejudice that is holding BIPOC communities in an immovable position.

Moving forward, MedMen has committed to spending  $1 million per year to showcase Black and Brown brands. They also pledge to give a portion of their sales to minority-founded organizations. 

The American Civil Liberties Union’s (ACLU) 2020 report found that Black Americans are 3.64 times more likely to be charged for unlawful cannabis possession. More specifically, the ACLU stated, “In 2018, 567 black people per 100,000 were arrested for marijuana possession, compared to 156 white people per 100,000.” 

MedMen has had a rocky past. Whether its future is brighter and more equitable, remains uncertain. 

What is certain, however, is that MedMen’s internal revision is crucial for the representation of cannabis. And in New York where recreational use is currently prohibited, yet common, this company must show itself to be a worthy vendor of something the state is still fairly skeptical about. 

 

Filed Under: Dispensary Tagged With: BIPOC, cannabis legalization in New York, Gov. Cuomo, Medical Cannabis, MedMen, MedMen cannabis dispensary, New York

Reader Interactions

Leave a Reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube

Advertise Here

Categories

Sustainability

seaweed naturals

SeaWeed Naturals Combines the Power of Seaweed with Cannabis to Further Ocean Restoration

April 3, 2022 By Maggie Horton

fungi climate change

Research Finds Fungi Help Ease Climate Change and Benefit the Environment

March 30, 2022 By Julia Meyer

climate crisis and the pandemic

“We Can Act:” What Bending the COVID-19 Curve Teaches Us About the Climate Crisis

April 21, 2020 By Melissa Hutsell

Footer

  • Subscribe
  • About
  • Contact
  • Privacy
  • Press

Recent

  • Priscilla Vilchis and Lil Kim Launch Aphrodisiak: A Cannabis Brand Focused on Sensuality, Social Justice, and Inclusivity
  • First Latina CEO of a Cannabis Company Partners with Music Industry Trailblazer Lil Kim to Launch Aphrodisiak Brand
  • Aphrodisiak: The New Female-Led Cannabis Brand Empowering Women and Promoting Inclusivity
  • Las Vegas Welcomes Aphrodisiak
  • HighOnLove – Taking Pleasure to New Heights

Search

Copyright © 2023 · The Emerald™ · News & Lifestyle Magazine

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings.

Cannabis News and Culture Magazine
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.