Greenlane Launches Groove, New House Brand Offering Quality Products at Value Price

Rhea-AI Summary

Greenlane Holdings (NASDAQ:GNLN) has launched Groove, a new brand offering affordable and high-quality cannabis accessories. This strategic addition aims to fill marketplace gaps and drive growth and profitability. Groove's product line includes a variety of everyday cannabis items such as glass and silicone pipes, dab pens, and vaporizer batteries, all developed by industry experts. The launch aligns with Greenlane's goal to become a leading brand family in the ancillary cannabis industry. More details about Groove can be found at www.smokegroove.com.

Positive

• Launch of Groove brand expected to accelerate growth and profitability.
• Groove products cater to a market demand for affordable, quality cannabis accessories.
• The Groove product line includes various essential items developed by industry experts.

Negative

• None.

BOCA RATON, FL / ACCESSWIRE / October 19, 2022 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") (NASDAQ:GNLN), one of the largest global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today announced the launch of Groove, the company's newest addition to its family of brands.

Groove offers simple, functional, and reliable ancillary cannabis products at an affordable price point, filling a gap in the marketplace for high-quality, value-driven essential items. The addition of Groove to Greenlane's family of brands is part of the company's strategy to accelerate growth and profitability. Designed for everyday use, Groove products are developed and vetted by industry experts to ensure they meet both quality and competitive price standards. Included in the Groove product line are glass and silicone pipes, dab pens, vaporizer batteries, grinders, butane torches, bubblers, and rigs, along with a roadmap of innovative items in the pipeline. Company information and current product inventory can be found at www.smokegroove.com.

"With the creation of Groove as a Greenlane brand, we are implementing new initiatives that align with our strategy to grow scalable, leverageable, and sustainably owned brands that solidify the company as the leading family of brands in the ancillary cannabis industry," said Craig Snyder, President of Greenlane. "These internally designed and marketed Groove products are developed to address scalable segments of the marketplace in a value-driven way."

"We are proud of the innovative, yet simple products the Groove brand offers. Consumers look for a product that will be reliable and functional, but at a reasonable price point, which can be difficult to come by," said Charles Hoch, Greenlane SVP of Product. "This is a great representation of our ability to leverage our deep portfolio of over 200 articles of IP. We look forward to building the Groove brand as part of Greenlane."

About Greenlane Holdings, Inc.

Greenlane is the premier global platform for the development and distribution of premium cannabis accessories, packaging, vape solutions, and lifestyle products. We operate as a powerful family of brands, third-party brand accelerator, and omni-channel distribution platform, providing unparalleled product quality, customer service, compliance knowledge, and operations and logistics to accelerate our customers' growth.

As a pioneer in the cannabis space, Greenlane has an incredible acumen for detecting opportunities in the marketplace. We proudly own and operate a diverse brand portfolio including DaVinci Vaporizers, Pollen Gear™,Higher Standards,Groove, and Eyce. Additionally, Greenlane strategically partners with leading multi-state operators, licensed producers, and brands, such as Storz & Bickel (Canopy-owned), Grenco Science, VIBES, and CCELL, to develop and distribute innovative and high-quality products.

Founded in 2005, Greenlane serves an expansive customer base comprised of thousands of retail locations, including licensed cannabis dispensaries, smoke shops, and specialty retailers. Greenlane also owns and operates Vapor.com and VapoShop.com, two industry-leading, direct-to-consumer e-commerce platforms in North America and Europe respectively.

For additional information, please visit: https://gnln.com/.

Forward Looking Statements

Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statements. These forward-looking statements include, among others, statements relating to: the current and future performance of the Company's business, including the achievement of profitability and comments relating to the Company's intellectual property portfolio; expected benefits from the addition of Groove to the Company's family of brands and the ongoing implementation of initiatives intended to increase sales and the efficiency and scalability of the Company's business; and the Company's financial outlook and expectations. For a description of factors that may cause the Company's actual results or performance to differ from its forward-looking statements, please review the information under the heading "Risk Factors" included in the Company's most recent Annual Report on Form 10-K for the year ended December 31, 2021, the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2022, and the Company's other filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to Greenlane on the date hereof. Greenlane undertakes no duty to update this information unless required by law.

Investor Contact

Darsh Dahya, CAO
ir@greenlane.com

SOURCE: Greenlane Holdings, Inc.

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FAQ

What is the Groove brand launched by Greenlane?

Groove is a new brand by Greenlane that offers affordable and functional cannabis accessories, aiming to fill gaps in the market.

What types of products does Groove offer?

Groove offers a range of cannabis accessories including glass and silicone pipes, dab pens, vaporizers, and more.

How does the launch of Groove impact Greenlane's strategy?

The launch of Groove is part of Greenlane's strategy to grow sustainable brands and enhance profitability in the cannabis market.

Where can I find Groove products?

Groove products can be found at www.smokegroove.com.

Is Greenlane focusing on affordability with its new Groove brand?

Yes, Groove is designed to provide high-quality cannabis accessories at competitive price points.