Jay-Z’s Monogram Brand No Longer Linked to The Parent Company Amid $587 Million Loss.
Jay-Z’s cannabis brand, Monogram, which was once linked to The Parent Company, is no longer associated with the troubled firm. While rumors have circulated suggesting the hip-hop mogul’s continued involvement in The Parent Company, it is crucial to clarify that Jay-Z stepped away from the company several years ago, with the official separation taking place in December 2022.
Monogram, Jay-Z's luxury cannabis brand
Jay-Z’s cannabis brand, Monogram, is no longer linked to The Parent Company after the hip-hop mogul stepped away in December 2022. The company, which reported a $587 million loss in 2022, struggled to meet expectations. Monogram, once a flagship product, failed to gain traction, with products like the $50 “OG Handrolls” falling short. Despite recent mergers, The Parent Company continues to face financial troubles. Jay-Z's exit showcases his ability to distance himself from struggling ventures.
The Parent Company had planned to generate over $300 million in revenue during its first year, backed by $575 million in funding. Unfortunately, that funding has now been exhausted.
The Parent Company became publicly traded in 2020, merging three cannabis firms and appointing Jay-Z as Chief Visionary Officer. Monogram, Jay-Z's premium cannabis brand, was meant to be the flagship product, with luxury items like the “OG Handrolls” retailing at $50 each. However, despite the hype, the product didn’t meet expectations, with many cannabis experts deeming it “mid-tier.” Seth Yakatan, a cannabis investor, commented to SFGate, “Monogram was supposed to be an ultra-premium product, and I don't know anyone who tried it and thought it was anything more than mid-tier.”
In 2023, The Parent Company merged with Gold Flora, another California-based cannabis company, in a bid to stay afloat. Despite this move, The Parent Company now holds only a 49% minority stake in the new entity. Gold Flora, however, is also grappling with its own financial issues, reporting losses over $56 million and carrying more than $63.5 million in debt as of 2024.
Jay-Z’s decision to step away from the venture before these complications arose highlights his business savvy and ability to distance himself from struggling ventures. While The Parent Company continues to face significant challenges, Monogram remains a part of Jay-Z's broader portfolio of successful endeavors outside of cannabis.
Monogram, Jay-Z's luxury cannabis brand, was launched in November 2020 under The Parent Company. As Chief Visionary Officer, Jay-Z aimed to elevate cannabis to a high-end product, focusing on premium flower and pre-rolls. Monogram's signature product, the OG Handrolls, retailed for $50, positioning the brand as a luxury offering in a competitive market.
In 2019, Jay-Z became the Chief Visionary Officer for Caliva, a California-based cannabis company. The following year, Caliva merged with two other cannabis firms to form The Parent Company, which became publicly traded. Monogram was launched as the flagship brand for The Parent Company, focusing on luxury cannabis, particularly premium flower and pre-rolls.
Despite its premium pricing and celebrity backing, Monogram faced mixed reviews, with critics questioning the value compared to standard cannabis products. In December 2022, Jay-Z stepped away from The Parent Company after it reported significant financial losses, including a $587 million net loss in 2022.
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