STORZ & BICKEL Makes History as First Vaporizer Brand to Sponsor NYLON House During Miami Art Week

Rhea-AI Summary

STORZ & BICKEL, a subsidiary of Canopy Growth (NASDAQ: CGC), made history as the first vaporizer brand to sponsor NYLON House during Miami Art Week 2024. The company showcased its products through a VIP VOLCANO Bar aboard a yacht at Star Island estate. Simultaneously, their latest device, VENTY, won 'Vaporizer of the Year' at the 2024 EMJAYS International Cannabis Awards in Las Vegas. The VENTY was recognized for its rapid heat up time, exceptional air flow, and medical-grade quality, reinforcing STORZ & BICKEL's position as a leading provider of vaporization technology.

Positive

• VENTY device won 'Vaporizer of the Year' at 2024 EMJAYS International Cannabis Awards
• First vaporizer brand to sponsor high-profile NYLON House event, expanding luxury market presence

Negative

• None.

Insights

Market Research Analyst

The sponsorship of NYLON House and award recognition for VENTY represent incremental brand-building activities for STORZ & BICKEL, but have minimal material impact on Canopy Growth's financial outlook. While the luxury positioning and celebrity associations may enhance brand perception, these marketing initiatives are unlikely to significantly move the needle on sales or market share in the current challenging cannabis market environment. The EMJAYS award, while prestigious within the industry, typically doesn't translate to meaningful revenue gains. For a company of Canopy's size facing broader financial challenges, these developments are more about maintaining brand relevance than driving substantial business growth.

The Brand's Latest Device, VENTY, Crowned Vaporizer of the Year at the 2024 EMJAYS  International Cannabis Awards

TUTTLINGEN, Germany, Dec. 12, 2024 /PRNewswire/ -- STORZ & BICKEL GmbH ("STORZ & BICKEL"), a world-leading manufacturer of high-end and medically certified vaporizers and a subsidiary of Canopy Growth Corporation ("Canopy Growth") (TSX: WEED) (NASDAQ: CGC), made history during Miami Art Week 2024 as the first vaporizer brand to sponsor NYLON House, hosted by Camila Cabello featuring a live performance from Ludacris and a DJ set by Hugel. Simultaneously, the brand's latest device—the VENTY—won vaporizer of the year at the EMJAYS International Cannabis Awards.

Dubbed the "loudest party in the 305" by Grammy-winning artist Ludacris, STORZ & BICKEL elevated the NYLON House atmosphere with an immersive, upscale VIP VOLCANO Bar aboard a lavish yacht located on Leonard Hochstein's Star Island estate.

The VOLCANO Bar provided a luxurious experience, highlighting STORZ & BICKEL's iconic vaporizers, while treating VIP guests to a curated selection of flavorful, vapor-filled balloons under the glittering Miami skyline.

"Partnering with NYLON during Miami Art Week provided a unique opportunity to introduce STORZ & BICKEL to a new segment of sophisticated, upscale consumers," said Vatra Krasniqi, Head of Marketing at STORZ & BICKEL. "By activating at such a prestigious event, we were able to reinforce our reputation as a luxury brand while offering a premium experience that captured the quality and precision we're known for."

The previous evening, STORZ & BICKEL's latest innovation, the VENTY, was crowned "Vaporizer of the Year" at the 2024 EMJAYS International Cannabis Awards, held during MJBizCon in Las Vegas. Celebrated for its rapid heat up time, exceptional air flow and medical-grade quality, the VENTY sets a new industry standard for portable vaporization.

"It's an honor for the VENTY to receive this recognition from the EMJAYS, known as the Oscars of cannabis," said Jürgen Bickel, Founder and Managing Director of STORZ & BICKEL. "This award solidifies our position as the premiere global provider of cutting-edge vaporization technology designed to enhance dry herb consumption."

For more information, visit www.storz-bickel.com and watch the NYLON House recap on Instagram @storz.bickel.

About STORZ & BICKEL GmbH
STORZ & BICKEL GmbH is the global leader in the manufacture of high-end and medically certified cannabis vaporizers. With a commitment to quality, innovation, and compliance, the company has consistently delivered exceptional products that meet the highest industry standards. Based in Tuttlingen, Germany, STORZ & BICKEL continues to drive the advancement of vaporization technology, providing a safe and efficient means of consuming cannabis for medical purposes.

Media Contact:
Madison Mullis
storzbickel@trailblaze.co

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SOURCE STORZ & BICKEL

FAQ

What award did STORZ & BICKEL's VENTY win at the 2024 EMJAYS Cannabis Awards?

STORZ & BICKEL's VENTY won 'Vaporizer of the Year' at the 2024 EMJAYS International Cannabis Awards in Las Vegas.

What makes the VENTY vaporizer by CGC's subsidiary STORZ & BICKEL unique?

The VENTY vaporizer features rapid heat up time, exceptional air flow, and medical-grade quality, setting a new industry standard for portable vaporization.

What was significant about STORZ & BICKEL's presence at Miami Art Week 2024?

STORZ & BICKEL made history as the first vaporizer brand to sponsor NYLON House during Miami Art Week 2024, featuring a VIP VOLCANO Bar aboard a yacht at Star Island estate.

How is CGC's subsidiary STORZ & BICKEL expanding its market presence?

STORZ & BICKEL is expanding its market presence by targeting upscale consumers through luxury events like NYLON House and winning industry awards for product innovation.