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The 50-year-old actress co-owns the most successful celebrity cannabis brand in the Golden State while other celebrity-backed options, like actor Seth Rogen’s Houseplant or rapper Wiz Khalifa’s Khalifa Kush, are struggling, MJBizDaily reported.
According to data compiled by Seattle-based cannabis analytics provider Headset, Paltrow’s Cann Social Tonics leads the pack for median monthly sales per brand in California for the first quarter of 2023.
Gwyneth Paltrow has a weed brand that’s selling over $750,000 a month in California. https://t.co/Us7DIGcU3U
— SFGATE (@SFGate) July 19, 2023
Cann earned $751,760 in monthly sales with an average item price of $19.56. To put that into perspective, Rogen’s Houseplant earned $377,193 in monthly sales, with a higher item price of $53.29. Another celebrity-backed brand, country legend Willie Nelson’s Willie’s Reserve, sits at the bottom of the list, earning $2,762 with an item cost of $21.27.
The research found that celebrity brands tend to be more affordable for cannabis buyers compared to traditional cannabis brands, Headset data noted. In comparison, the conventional brands earned $26,591 with an item price of $23.14 per item.
“From my perspective, a number of celebrity-affiliated brands have been able to find success relative to the typical California cannabis brand,” Headset data analyst Mitchell Laferla told MJBizDaily.
Cann is backed by Paltrow and endorsed by a list of other stars, influencers, and professional athletes, the report noted.
The Paltrow-backed brand associates itself with “mainstream” celebrities not known for cannabis use.
“We thought if we could be the first cannabis brand to get a mainstream celebrity that does not have a public image that’s associated with cannabis, then we could change the conversation and normalize it in a really new and powerful way,” Cann co-founder Luke Anderson said.
“We were able to paint a picture that this is something for everybody,” he added. “It’s not just something for people who want to get really high.”