Budweiser’s former marketing chief jumps into cannabis industry
Budweiser’s former chief marketing officer Chris Burggraeve recently moved from beer to cannabis, a sign of the alcohol industry’s growing interest in the cannabis business.
Burggraeve has now joined the advisory board of GreenRush Group, a San Francisco-based startup that sees itself as the “Amazon of weed” according to The Cannabist. A native of Belgium, he also co-founded Toast, a company that produces pre-rolled joints.
Burggraeve is not the first from the traditional business world to switch to the cannabis bandwagon. Last month, Constellation Brands Inc., which sells Corona in the U.S., announced its investment in Canopy Growth Corp., a Canadian seller of medicinal cannabis products.
“This is one of the fastest-growing categories globally,” Burggraeve said. “Why? Because people want it. When consumers want something, you ignore it at your peril.”
Consumers are indeed showing a great interest: 64 percent of the U.S. population wants to lift the federal ban on cannabis, according to a new Gallup poll from October.
Since he left the corporate making world, Burggraeve is now consulting and investing in disruptive categories like cannabis. He believes cannabis could hit the beer industry in the same way microbreweries have over the past 20 years.
“The same way that craft beer started and, for the longest time, was ignored and then exploded, there’s no reason why the same thing wouldn’t happen in this space,” he said.
GreenRush, the company that connects buyers to dispensaries and delivery people in California and Nevada, is planning on expanding to other states as well, including New York and Massachusetts.
Eight states and the District of Columbia allow social cannabis use, and 21 states have legalized cannabis for medical purposes. Cannabis was a $6 billion industry in 2016, and it is forecasted to reach $50 billion by 2026.
“It will all merge and cross-fertilize and fuse,” Burggraeve said. “Not because the companies want it, but because the consumers want it.”