This is Bloomberg Business Week with Carol Messer and Jason Kelly on Bloomberg Radio. So, as we were talking earlier, among the Bloomberg Fifty, which will be in the current magazine's hitting news stands on Thursday, is executive chairman of one of the big cannabis companies. And you know, we
talk a lot about the industry. We did, Jason last year, we certainly did this year, and we will, no doubt about it continue into So we want to find out a little bit about what's to come the importance of branding. D Simms is with us CEO of the cannabis brand consultancy company BRN Group, joining us in our Bloomberg Interactive Broker studio right here in New York. Welcome to Bloomberg Radio. Hello,
glad to be here. So tell us a little about the cannabis industry, because I feel like there's been some highs and lows, no puns intended, but I do think like we've talked to a lot of the CEOs of various companies, and you know, we still need to get the regulations figured out so that there's federal regulation the US, so it's not a state by state cases, we're still
trying to figure out the financial aspect of it. So tell us abe about your thoughts on what's to come and and and how it's moving along incredibly early days, Um, when we're excited to be a part of it. I mean at the Burn Group, our focuses and rooted in three pillars and tech distribution and brands. Sorry, I SBRN Bird Group, Burn Baby Baby exactly, So I don't want
to get in the weeds. But okay, So so the reality is, Um, you know this is an industry, right, I've I've worked in everything from fashion, fragrance, TV celebrity spirits where you kind of had to build and determine what segment you're going after. This is interesting, right you have like a you have a plan that is centuries old, Like this is like how do you take this? Is
like cinnamon? Right? So you have an existing proposition, um that essentially needs to be rebranded and destigmatized, which is which would be you and primarily by I think actually a step before marketing is really in my education. Um, you know, as a person who has built a gazillion brands, there's a huge gap in the basics of like nomaclature and what is CBD, what is tc H, what does cannabis even mean? Where does the plant come from? Is
this new as a novel? Um? So I think for us at the Burn group, we look at the brands that we're building. We've put together kind of a crack team of UM people who deeply understand how to build cannabis brands, but at the intersection of commerce and culture, which we feel like don't exist right now. UM. I think on top of that, when you look at what the futurist and fashion or is it like alcohol you've worked with, you know certainly getting a lot of you know,
spirit brands out there. Is it the same thing? And that's important responsibly, um, But there are lots of rules and regulations when it comes to the alcohol industry. So is it the same thing? Can we make the comparison a hundred percent? I mean, when I was looking at the industry, UM, somewhat longingly from the outside, there's a ton I think of some hilarities, um, you know, in terms of in the spirits business, in terms of building
premium brands, in the opportunity to connect with consumers. The gap though, is in an industry where in spirits where it is heavily self regulated, right, um, which is which is really the really the way to go when you think about the future of potential. Um, what regulation looks like. My hope is that regulators understand it can be done in isolation. It has to be legitimate private public collaboration,
just because the information is so disparate. Um, so we kind of have to also at the same table share information to determine what regulations make sense from a guidance counsel standpoint, not a whole mon understandpoint. And you talked about the intersection of commerce and culture, which is so fascinating, and you probably sat at one of the most fascinating next side of that, which is working for Daddy brother
Love Combs. Yeah. So, I mean, and very few people candidly in the modern era have done that as well as he has obviously, as you did in many ways across a variety of brands and really understanding an audience,
really understanding marketing. What do you bring from that experience to this Yeah, like fourteen years um work, they're building everything from you know, from from fragrance as I mentioned, and you know, my favorite story from Rock Vodka, which was horrible, terrible story negative five years Kager the spreadsheet you woquy at too. You know what is now considered
to be like a two bion dollar retail value brand. Um, but the science I think of what of what Sean brought to the table, whether it was and then you know, a new biggie song, or whether it was building the second most popular ultra premium baca in the world is really around. You can't like, you can't fake a conversation with your audience. And this was true thirty years ago, but today is hyper true and it's incredibly missing right
now in the cannabis space. I um, you know, my newest parlor trick right now is ask anybody to name three CBD brands outside this building, and no one can get to If you can get to, like you're in an audience that's probably an analyst and I know, but
I have to say, you're overwhelmed. And I have felt the same way, Like I'm curious, but I feel like what are the standards and there's just an array of products and I don't I don't have a brand connection yet with any Yeah, you need someone and something to trust and believe in. If you're just to your point, kind of candy curious, which you know, we're. The cool thing about the industry is it is literally like one
of the true nonpermose issues. Right over six percent of Americans are pro federal regulation, and it's definitely an interesting frontier. So you're gonna have to come back. Wait, Thanks for having Sims is the CEO of Burn Group. Here in our Bloomberg Interactive broker's studios, spending your time between New York and Toronto, watch this space for sure. Noted