BCW Introduces Consulting Unit to Provide End-to-End Counsel for Companies in the Burgeoning Global Cannabis and Hemp Industry
March 28 2019 - 12:30PM
Business Wire
BCW (Burson Cohn & Wolfe), a leading global communications
agency, today introduced a strategic consulting unit that will help
companies in the emerging cannabis and hemp space gain market
entry, navigate policy and regulation challenges, identify and
engage the cannabis consumer and communicate product benefits, all
on a global scale. BCW’s end-to-end holistic offering includes
experts in research, data and analytics, federal policy and
grassroots engagement.
The launch of BCW’s cannabis consulting unit comes as the
global legal marijuana market is expected to reach USD
$146.4 billion by end of 2025, according to a new report by Grand
View Research, Inc. The U.S. legal marijuana market size was
estimated at USD $7.06 billion in 2016 and is expected to develop
at a compound annual growth rate of 24.9 percent from 2017 to 2025.
Estimates from New Frontier Data’s Hemp Business Journal suggest
the hemp derived CBD market will triple from a $390 million market
in 2018 to a $1.3 billion market by 2022.
“While the cannabis industry is significant, it is really at the
nascent stage of market development,” said Donna Imperato, Global
CEO, BCW. “Companies entering the space must navigate policy,
operations, consumer education, marketing, and finance and capital
markets – which is no easy feat. Our cannabis consulting unit has
the talent and deep expertise to help clients overcome these
challenges, take their products into this emerging market and build
them into category leaders.
“The growth potential for the cannabis industry is
extraordinary,” added Imperato. “We are excited to partner with our
clients as first movers in this incredible new market.”
BCW’s cannabis consulting unit currently advises PAX Labs, a
leader in the design, development and sale of premium cannabis
vaporization technologies and devices; Pyxus International, Inc., a
global value-added agricultural company; and Criticality, LLC, a
North Carolina-based industrial hemp company that takes a
science-based approach to the extraction, refinement and
formulation of high-quality cannabidiol (CBD) products; among other
clients
In late 2018, Canada legalized recreational use of cannabis at
the federal level. BCW’s colleagues in Canada worked to introduce
FIGR, Inc., a vertically integrated legal cannabis company, to that
market.
“According to BCW’s 2018 Fall Cannabis Culture Poll, developed
in conjunction with PSB and Civilized Life, support in North
America for legalized cannabis in some form, is strong, and a
majority believes it has a positive impact on the economy,” said
Chris Foster, President, North America, BCW. “So, there is a
tremendous amount of opportunity as the global cannabis market
evolves and grows, but this is punctuated by regulatory uncertainty
in some markets and highly regulated environments in others. The
U.S. is a prime example with its incongruity between federal and
state laws. Our team has the expertise to help clients navigate
these challenges – from influencing public policy to building
brands and establishing new categories – and achieve success in the
cannabis and hemp industry.”
About BCW
BCW is one of the world’s largest full-service global
communications agencies. Founded by the merger of Burson-Marsteller
and Cohn & Wolfe, BCW delivers digitally and data-driven
creative content and integrated communications programs grounded in
earned media and scaled across all channels for clients in the B2B,
consumer, corporate, crisis management, CSR, healthcare, public
affairs and technology sectors. BCW is a part of WPP (NYSE:WPP), a
creative transformation company. For more information, visit
www.bcw-global.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190328005709/en/
Media: Catherine SullivanPhone:
212.601.3205Email: Catherine.Sullivan@bcw-global.com
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