David Goubert On Luxury VS Necessity And CPGs
David Goubert, the CEO of AYR Wellness (AYR.A) joins us on this episode of The Dales Report. This podcast, we’re tackling AYRs strategies as a brand and in future markets. We also ask David to weigh in on a very interesting topic: does he consider cannabis to be a luxury product, or one that is more destined to become part of the realm of other consumer packaged goods?
Our viewers have been looking to hear from David Goubert for a while, and we’re pleased to be able to finally have him on our program. For those who may not be familiar with AYR, in the Q3 financial results from last month, highlights included a 18% year over year increase in retail transactions on a same-store basis and a significant EBITDA growth to boot. David attributes the improvement in retail transactions to initiatives designed to increase customer acquisition and loyalty.
David’s a relative newcomer to the cannabis space. As such, he brings a bit of an outsider perspective to the industry. He explains to Shadd and Anthony his stances on the company’s positioning, contemplating its status as both a luxury item and as CPGs. Anthony Varrell discusses the potential expansion of the brand beyond the luxury segment into the broader consumer packaged goods industry.
Customer loyalty is clearly a priority to David, given his official statements in November. The importance and significance of that loyalty is explained, as he draws comparisons to other established retailers and consumer goods companies. Obviously, a great brand also has a hand to play in that.
We also touch on AYR’s strategies and outreach in with regards to the Florida market, specifically the cultivation capacity and brand equity of Kiva in the absence of wholesale distribution. As part of AYR’s broader strategy, we also delve into the subject of market expansion and debt restructuring, highlighting a shift in priorities towards long-term growth and valuation.
David Goubert gives us a look ahead to his expectation of the cannabis landscape in the coming years, and how market share and brand recognition has its part to play. Be sure to tune in.
