Greenlane Enters Into Agreement with Jamestown for Strategic North American Expansion of Higher Standards Retail Stores
Following Success of Flagship Higher Standards Stores, Partnership to Drive North American Expansion of First-of-its-Kind Retail Concept
BOCA RATON, Fla., Sept. 12, 2019 (GLOBE NEWSWIRE) -- Greenlane Holdings, Inc. (Nasdaq: GNLN) (“Greenlane”), one of the largest global sellers of premium cannabis accessories, CBD and liquid nicotine products, today announced a tenant representation agreement with Jamestown for the strategic North American expansion of its Higher Standards stores.
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Higher Standards, Greenlane’s innovative retail experience, opened its first flagship store at New York City’s famed Chelsea Market (formerly owned by Jamestown) in December 2017, followed by a second flagship store at Jamestown’s Ponce City Market in Atlanta in March 2019. A first-of-its-kind concept shop, Higher Standards is a contemporary take on a luxury smoke shop offering a carefully curated product selection, featuring premium smoking accessories and lifestyle goods from Greenlane’s proprietary house brands, including Higher Standards and Marley Natural, as well as partner brands such as Jonathan Adler, Malin+Goetz, Davinci, LEVO, PAX, Banana Bros and Storz & Bickel.
Jamestown is a leading real estate investment and management company recognized internationally for its adaptive reuse projects. Greenlane and Jamestown collaborated on the site location, design and development of the flagship Higher Standards stores in New York City and Atlanta.
This partnership will drive further strategic expansion of the Higher Standards retail concept in key North American markets. Greenlane expects to have four Higher Standards stores operational in North America by year-end, with plans for continued domestic and international expansion.
“Jamestown has been instrumental in establishing our Higher Standards flagship locations and we are excited to extend our partnership as we bring this concept to more connoisseurs throughout North America,” said Sasha Kadey, Chief Marketing Officer of Greenlane and Co-Founder of Higher Standards. “The flagship Higher Standards stores have performed exceptionally well as consumers have embraced our immersive shopping experience and curated selection of premium smoking accessories, bespoke products, and mainstay lifestyle goods. With Jamestown’s proven track record of investing in strong retail markets across the country, we are poised for accelerated, strategic growth leveraging our data-driven learnings from our flagship stores combined with Jamestown’s expertise, to determine the next markets for our Higher Standards stores.”
"We are excited to have partnered with Higher Standards to incubate and accelerate their movement into the direct retail business," said Michael Phillips, President of Jamestown. "Jamestown is now partnering with them in a tenant advisory capacity to help them expand their retail footprint."
In addition to its flagship stores in New York City and Atlanta, Higher Standards currently operates shop-in-shop stores in The Pottery and Cannary West in Los Angeles, and the Bud & Bloom in Santa Ana, California, with plans for additional collaborations with retailers whose high level of style and contemporary taste align with the Higher Standards brand.
About Greenlane Holdings, Inc.
Greenlane (NASDAQ: GNLN) is one of the largest global sellers of premium cannabis accessories, CBD and liquid nicotine products. The Company operates as a powerful house of brands, third party brand accelerator and distribution platform for consumption devices and lifestyle brands serving the global cannabis, CBD, and liquid nicotine markets with an expansive customer base of more than 11,000 retail locations, including licensed cannabis dispensaries, and smoke and vape shops. Greenlane has an established track record of partnering with brands through all stages of product lifecycle, providing a range of services including product development, go-to-market strategy, sales and marketing support, market research, customer service, direct-to-consumer fulfillment, warranty repair, supply chain management, and distribution. In addition to owning and operating its own brands, Greenlane is the partner of choice for many of the industry’s leading players including PAX Labs, (Canopy-owned) Storz & Bickel, JUUL, Grenco Science, Firefly, DaVinci, Select, Sherbinskis, Bloom Farms, Mary’s Nutritionals, Cookies and dozens of others. Greenlane’s house of brands is comprised of child-resistant packaging innovator Pollen Gear; VIBES rolling papers; the Marley Natural accessory line; the Keith Haring accessory line, Aerospaced & Groove grinders, and Higher Standards, which is both an upscale product line and an innovative retail experience with flagship stores at New York City’s famed Chelsea Market and Atlanta’s Ponce City Market. The company also owns and operates Vapor.com, an industry leading e-commerce platform which offers convenient, flexible shopping solutions directly to consumers. For additional information, please visit: https://gnln.com/.
About Jamestown
Jamestown, LP was established in 1983 as an investment and management company focused on income-producing real estate in the United States. Over the last 35+ years, Jamestown has grown its portfolio of assets in key markets throughout the U.S. and expanded its investment footprint to South America and Europe. Jamestown's capabilities include: acquisitions, capital markets, property management, asset management, retail leasing, design, sustainability, and risk management. Jamestown has headquarters in Atlanta, GA and Cologne, Germany, and offices in New York, NY, Boston, MA, San Francisco, CA, Los Angeles, CA, and Bogota, Colombia. For more information, visit www.jamestownlp.com.
Media Contact:
Cory Ziskind
ICR
646-277-1232
greenlane@icrinc.com
Investor Contact:
Scott Van Winkle
ICR
617-956-6736
scott.vanwinkle@icrinc.com
Fallon McLoughlin
Corporate Communications, Jamestown
Mobile: (631) 921-8683
Email: Fallon.McLoughlin@Jamestownlp.com
Photos accompanying this announcement are available:
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Released September 12, 2019