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Martha Stewart on a New Business
This is Justin Bieber’s latest joint venture.
The Canadian singer is breaking into the cannabis space, teaming up with a company to sell pre-rolled joints he calls “Peaches,” a nod to one of his most successful recent songs.
Los Angeles-based recreational pot company Palms Premium announced its partnership with Bieber on Instagram on Monday, calling the product a “limited-edition line” that will be available in California, Nevada, Massachusetts and Florida.
Palms specializes in pre-rolled joints, according to its website, which advertises packs of seven joints for $ 32 available in dozens of stores across California and Nevada.
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“I’m a fan of Palms and what they do by making cannabis accessible and helping to de-stigmatize it – especially for the many people who find it useful for their mental health,” Bieber told Bloomberg in a statement. sent by email.
Bieber hasn’t shied away from using potty before. Earlier this year, Bieber stopped by Wonderbrett’s new flagship cannabis store in Los Angeles, where he spent more than $ 1,000 on cannabis products, Page Six previously reported.
A Palms representative did not respond to The Post’s request for information on the financial terms of the partnership.
At least a portion of the proceeds from the sale of “Peaches” joints will go to nonprofits, including Project Last Prisoner, which involves advocacy for criminal justice reform regarding cannabis, and Veterans Walk and Talk, which advocates the outdoors, psychedelic therapy. and cannabis among military veterans.
“Our goal is to make cannabis more accessible and to help de-stigmatize its use,” Palms said on Instagram.
Bieber – known as a savvy investor in companies ranging from Spotify to his own line of fragrances – is the latest celebrity to enter the burgeoning legal marijuana industry in the United States.
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While marijuana remains illegal at the federal level, with industry insiders saying the United States is unlikely to see national-level legalization any time soon, a wave of state legalization efforts has opened. opportunities for entrepreneurs.
Earlier this year, New York City became the last state to legalize marijuana, and Gov. Kathy Hochul’s administration pledged to make rapid progress in putting in place a regulatory framework to establish the industry.
The very first meeting of the New York Cannabis Control Board is scheduled for Tuesday.
With the addition of New York City, the pot has now been legalized for recreational use for adults in 18 states, according to the Drug Policy Alliance, and for medical use in more than 30 states.
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Rapper Jay-Z has been one of the most active celebrities in the cannabis business. Earlier this year, the Brooklyn-born rapper launched a $ 10 million investment fund to help minority marijuana entrepreneurs break into the booming industry.
He is also the visionary director of Parent Co., which sells branded cannabis products.
Martha Stewart has also entered the space, serving as an advisor to Canada-based Canopy Growth while launching her own product lines, including cannabis-infused dog chews.
This story first appeared in the New York Post.
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