When we last spoke with Melise Panetta, President of BevCanna Enterprises Inc (CSE:BEV,Q:BVNNF, FSE:7BC) in March, she shared some exciting news about recent hires and the white label partnerships in the pipeline for the company. Panetta is back again with us on this episode of The Dales Report to give updates on these, plus where she envisions BevCanna’s Keef and TRACE Brand of products in the next few years.
Here’s some highlights from the interview.
US Market key to BevCanna Global Expansion, and they’re focused on TRACE Brand
BevCanna is an exclusive licensee manufacturing and distribution partner of Keef, the highest grossing cannabis beverage company in the United States. But Panetta says that right now that this portion of the business is focused on the Canadian market exclusively, as the company is in talks with the provinces to get listings and first orders coast-to-coast.
She acknowledges though that the US is a key market to BevCanna’s global expansion plans, and says that fortunately the consumer and retail trade are very similar between the US and Canada – scale is the only significant difference. BevCanna’s in the process of locking down full route to market so as to be able to make a meaningful impact in the US market when they’re ready.
As far as the nutraceutical and wellness markets go, however, the TRACE Brand side of the business she hopes to be in the US sometime in Q3.
Immediate and near-term goals for BevCanna and TRACE Brand involve getting distribution
Wellness is a large, growing sector, Panetta says, and alkaline and plant-based waters will be some of the fastest-growing subsegments within it. Getting distribution is the priority; she already believes that the TRACE Brand has a proposition that consumers like and want.
Within the next two years, Panetta says she would like to see a “solid footprint” on the base, locally and globally. Locally, that would involve full distribution coast to coast and growing rapidly. Globally, she hopes to gain BevCanna a meaningful presence in Asian, Pacific, and US markets, as well as others. She would also like to see BevCanna innovating in a targeted and strategic way.
There are three key parts to a successful brand, Panetta says
First, consumer products have to be on-trend, she says. BevCanna’s products with TRACE in the wellness space and Keef in the cannabis beverage space are both products that meet the criteria. Secondly, a good understanding of the retail trade is important. And last is experience in packaged goods. BevCanna’s team has over 100 years of experience in CPG, much of it in large companies.
At the end of the day, she says, CPG is about focusing on what the consumer wants, and cannabis is a consumer good. CPG brings insights to the space, solidifies the operation in supply manufacturing and distribution, and brings quality control.