These days, there are subscription boxes for almost anything. There’s well known box subscription services like BarkBox for dogs and Birchbox for beauty supplies, but what if you’re a cannabis consumer?
The Birchbox for Bud Lovers
If you’re a stoner looking for a subscription box, look no further than Hemper. A curator of monthly limited-run cannabis accessory boxes since 2015, Hemper now has nearly 10,000 monthly subscribers with more than 200,000 boxes shipped to date.
According to Hemper’s website, “each box comes with core monthly essentials, a few surprise items, and a band new glass piece.” With over 10 items in every monthly box, subscribers are getting nearly $100 in value for just $29.99 per box.
For those who think a new glass piece each month is too much, that’s ok. Hemper offers quarterly box subscriptions as well as the option to receive a box every other month.
While you may not go through all the rolling papers they send you in a month, there’s too many limited edition collaborations with brands and celebrities to miss.
Chances are, you’re going to want to get Hemper on a monthly basis.
While Hemper is best known for its subscription boxes, the company has experienced rapid growth on a handful of fronts.
Not only are Hemper products available online, but they’re also available in over 700 stores across the United States. By the end of 2019, the company expects that number to hit 3,000.
“Hemper has evolved from a monthly subscription service providing novel smoking and replenishment accessories to a cult following to become a diversified brand with well-designed and innovative products that are now being purchased by a more mainstream audience in addition to our core fans,” said Hemper CEO Bryan Gerber.
Now that Hemper has successfully raised some seed capital, the company intends to accelerate sales, marketing and product development as well as expand into new geographic markets.
Hemper’s Growth Potential
Assuming 200,000 boxes have shipped at a price of $29.99 per box, Hemper has done roughly $6 million in sales since inception. Given the fact that only eight states and Washington D.C. now permit recreational marijuana use, there’s plenty of room to grow.
As Hemper’s rapid growth has paralleled the acceleration of the marijuana legalization movement and destigmatization of cannabis use, a lot of upside is still to come. Only eight states and Washington D.C. now permit recreational marijuana use, and just 30 have legalized medical marijuana.
Hemper’s Seed Funding
“The cannabis market is witnessing a transition to a mainstream user with the growing acceptance of cannabis use, and Hemper is the perfect proxy to take advantage of that shift,” said Evolution Corporate Advisors’ Gregg Smith, who has also invested in other disruptive smoking-related companies including market leaders PAX Labs and JUUL Labs, and has joined the Hemper board. “Their team has built an impressive product portfolio, customer base and financial track record without any outside investment to this point, and the business will only be strengthened as more cannabis users come online looking for innovative and well-designed products.”
It goes without saying that Hemper has competition. Aside from celebrity-tied Dollar High Club, there’s at least 8 more stoner subscription box services that we’re aware of. With a million in recently secured funding and new connections to PAX and JUUL, we’d be willing to bet Hemper has a spot in the winners’ circle.
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