Medical marijuana is legal in 16 states and will reportedly account for nearly $2 billion in sales this year. And even though marijuana growers use any number of major brand-name plant products on their crops, the big companies have shied away from acknowledging this fact... and they certainly don't openly market to them. But the CEO of Scotts Miracle-Gro wants to change that.
'I want to target the pot market,' said Scotts CEO Jim Hagedorn. 'There's no good reason we haven't.'
From the Wall Street Journal:
To target marijuana growers, Scotts would likely buy niche dirt companies that already exist rather than create its own line of branded products.
Raids on pot-growing operations have turned up Scotts products. Mr. Hagedorn takes that as a good sign of brand awareness, but he fears that some growers would be reluctant to use a mainstream product.
Hagedorn says this is all part of his company's strategy of targeting smaller, niche markets that have gone ignored by companies like Scotts.
High Hopes at Miracle-Gro in Medical Marijuana Field [WSJ.com]
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