CEO reveals her ideal celebrity branding partners…
We always talk about the importance of branding at the National Institute for Cannabis Investors.
When done right, branding tells a story.
It showcases a mission statement.
It provides the details at just a quick glance about what a company stands for.
That’s why Executive Director Don Yocham wanted to chat with Trang Trinh, the CEO of TREC Brands. TREC Brands is focused on quality while also being price sensitive, because as you’ll find out in the interview, “good weed doesn’t have to break the bank.”
You can catch a recap of the interview below.
In addition to sharing her insight in the video interview, we also wanted to open the floor for our members to learn more.
CEO & Branding Expert Trang Trinh Answers Your Questions
One of the first questions for Trang was from Martin P., who wanted to know more about Trang’s plan for raising money.
“Ms. Trinh, obviously, I know little about your brand as you are in the Canadian marketplace. With quality at a fair price being your goal, how do you intend to achieve this and where do you intend to get the capital to fund such a lofty goal? Will you be going the IPO route, or do you intend to get your funding privately? I’d like to ‘thank you’ in advance for your response.”
Trang Trinh: “Quality at a fair price is indeed the goal for one of our brands – Thumbs Up. My product team spends a lot of time searching the country for licensed partners that have efficient processes and have been able to drive the cost per gram of cannabis down. Additionally, by only owning the brand IP (house of brands model), there are two ways we structure deals with licensed producers: the first is joint control where TREC sources and outlays capital for product. The second is a royalty model where there is no capital outlay. The joint control model yields a higher margin than royalty. There are no plans to go the IPO route – and now is not a great time! Non-brokered private money has been successful for us so far and we will continue down this route.
In the next question, Joe E. brings up an interesting topic about marketing cannabis in Canada.
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“From a Californian, living in L.A. most of my life, I have one main question. Do you plan to put a face to the brand? If so, who?”
Trang Trinh: “Unfortunately, in Canada, brands cannot have a ‘spokesperson’ due to strict marketing regulations. For our brand Blissed, we do work with local influencers to create content (blogs, educational material, etc.) that is relatable to our end consumer – however, we cannot pay a celebrity or influencer to post about our product or brand. Wishful thinking – if our brands make its way to the U.S., my ideal influencers for our brands would include: The Weeknd (WINK), Chrissy Teagan (Blissed), and Jack Black (Thumbs Up).”
We’d like to thank Trang once again for taking the time to interview with Don and answer your questions.
And if you haven’t yet, along with Trang, make sure to check out this report about the female-led cannabis companies and executives shaping the industry.
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April 21 2020