"Having a strong identity that captures market share is essential"

Branding is becoming increasingly critical in a cannabis industry that shows no sign of slowing down. As the sector matures, companies in the US are constantly competing to launch new products and gain a market share leading position. Several businesses have partnered up with celebrities to better promote their products and expand their reach. Recently, former heavyweight champion Mike Tyson joined the cannabis fray and launched Tyson 2.0. “Mike has been out there talking about cannabis for years,” says Chad Bronstein, board chairman of Tyson 2.0, who is also CEO and Founder of Fyllo, the leader in compliance-first SaaS solutions for highly regulated industries. “That’s why we initially reached out to him to be a strategic advisor for the brand. We quickly understood how big of an advocate for cannabis he is, as well as how knowledgeable he is about cannabis. With a common vision, we saw an opportunity to develop Tyson 2.0.”

Brand recognition in the cannabis industry
“Brand recognition is critical in this day and age. Just a short while ago, there weren’t that many brands in cannabis,” Chad continues. “Today, there are a number of retail brands, so having a strong identity that captures market share is essential. With Fyllo, we work with a lot of brands. We applied years of experience to ensure that Tyson 2.0 is set up for success.”

And success comes with having strong partnerships. “Which is why we have partnered with Columbia Care as our exclusive grower,” Chad points out. “Together, we are creating our own unique genetics and products, each with its own unique properties. For instance, Mike talks a lot about how cannabis makes him more focused during a boxing match – yet not everyone is like Mike! What I mean is that we are developing products that provide our customers the type of effect that is most suitable for them at a given time. This is also why the product portfolio is geared towards every price range - from premium price range to a lower entry point, our goal is to allow everyone to experience Tyson 2.0’s products without price being a barrier.”

Product launch in Colorado
Now that everything is set up and the board of directors has been filled with cannabis veterans, the company is ready to launch its first products in Colorado. “We are launching in Colorado with The Green Solution, a 21-store retail chain owned by Columbia Care,” Chad continues. “We are launching our flowers on Black Friday – or rather, Green Friday, as we call it. These products include a range of sativa, indica and hybrid strains. On the same day, we are also doing a giveaway where people could win a day with Mike and do a cultivation tour to see how our products are developed. There are also other prizes such as a $200 gift card, a Tyson 2.0 swag bag, a signed pair of boxing gloves for the second place, and a signed photograph for the third place.”

National legalization push 
All these efforts are inscribed in a national push to end prohibition, which was recently furthered with the introduction of a new bill by Rep. Mace. “I think we are going in the right direction,” Chad observes. “There’s a lot of pressure in the space at present and a lot of public companies are doing well, but we need banking and enhanced security measures. It is, however, very comforting to see that there is bipartisan support on ending prohibition and federally regulating this industry. I think it’s only a matter of time before something concrete happens.”

Federal legalization would be the additional steppingstone for cannabis businesses to seize the many opportunities offered by a full-fledged national cannabis industry. “We are working to make Tyson 2.0 the house of many products,” he says. “We are doing everything that is necessary to make this the largest brand in the North American cannabis industry.”