The Cannabis industry is growing, and a lot of businesses are taking advantage of this. The sale of CBD oil, CBD tincture, edibles, and other CBD products is rising. Among these products, Delta 8 gummies are gaining popularity for their unique effects and accessibility. In this article, we’ll explore one of such businesses, the Delta 9.
1. Delta 9’s Strategic Expansion: A Closer Look
Delta 9, a prominent cannabis retailer in Edmonton, has made significant moves to expand its reach in the competitive cannabis market.
Delta 9’s journey began as the 13th licensed cannabis producer in Canada, amidst a burgeoning industry that now boasts around 700 companies. Facing fierce competition for market share and shelf space, Delta 9 opted to bolster its position through strategic partnerships and acquisitions.
2. Doubling Market Share through Acquisition
In a bid to fortify its presence in the retail sector, Delta 9 executed a bold acquisition strategy, notably acquiring seventeen Uncle Sam’s Cannabis shops. This move proved fruitful, resulting in a notable 20% increase in revenue and the doubling of Delta 9’s market share.
3. Securing Investments and Funding Growth
To fuel its expansion, Delta 9 secured a substantial $10 million investment from Sundial Growers Inc., further accelerating its growth trajectory. With a revenue surge to $62.3 million, Delta 9’s strategic partnerships and financial backing position it for continued success.
4. Vertical Integration: A Key to Future Success
With an eye toward future growth, Delta 9’s CEO, John Arbuthnott, outlined plans for vertical integration within the cannabis industry. By diversifying into wholesale operations, Delta 9 aims to solidify its position along the supply chain, from production to consumer distribution.
5. Weathering Market Fluctuations
Despite its impressive growth, Delta 9 faced a temporary setback with a drop in share price, reflecting broader market volatility within the Canadian cannabis industry. However, analysts remain optimistic about Delta 9’s ability to rebound and sustain long-term growth.
6. Outlook for Future Growth
Analysts foresee promising prospects for Delta 9, with projections suggesting a potential revenue milestone of $100 million by 2022. With a focus on enhancing its wholesale capabilities and expanding beyond its home province of Manitoba, Delta 9 is poised to capitalize on the evolving landscape of the cannabis market.
