Greenlane Holdings, Inc. (Nasdaq: GNLN) (“Greenlane”), one of
the largest global sellers of premium cannabis accessories, CBD and
liquid nicotine products, today announced a tenant
representation agreement with Jamestown for the strategic North
American expansion of its Higher Standards stores.
Higher Standards, Greenlane’s innovative retail
experience, opened its first flagship store at New York City’s
famed Chelsea Market (formerly owned by Jamestown) in December
2017, followed by a second flagship store at Jamestown’s Ponce City
Market in Atlanta in March 2019. A first-of-its-kind concept shop,
Higher Standards is a contemporary take on a luxury smoke shop
offering a carefully curated product selection, featuring premium
smoking accessories and lifestyle goods from Greenlane’s
proprietary house brands, including Higher Standards and Marley
Natural, as well as partner brands such as Jonathan Adler,
Malin+Goetz, Davinci, LEVO, PAX, Banana Bros and Storz &
Bickel.
Jamestown is a leading real estate investment
and management company recognized internationally for its adaptive
reuse projects. Greenlane and Jamestown collaborated on the site
location, design and development of the flagship Higher Standards
stores in New York City and Atlanta.
This partnership will drive further strategic
expansion of the Higher Standards retail concept in key North
American markets. Greenlane expects to have four Higher Standards
stores operational in North America by year-end, with plans for
continued domestic and international expansion.
“Jamestown has been instrumental in establishing
our Higher Standards flagship locations and we are excited to
extend our partnership as we bring this concept to more
connoisseurs throughout North America,” said Sasha Kadey, Chief
Marketing Officer of Greenlane and Co-Founder of Higher Standards.
“The flagship Higher Standards stores have performed exceptionally
well as consumers have embraced our immersive shopping experience
and curated selection of premium smoking accessories, bespoke
products, and mainstay lifestyle goods. With Jamestown’s proven
track record of investing in strong retail markets across the
country, we are poised for accelerated, strategic growth leveraging
our data-driven learnings from our flagship stores combined with
Jamestown’s expertise, to determine the next markets for our Higher
Standards stores.”
"We are excited to have partnered with Higher
Standards to incubate and accelerate their movement into the direct
retail business," said Michael Phillips, President of Jamestown.
"Jamestown is now partnering with them in a tenant advisory
capacity to help them expand their retail footprint."
In addition to its flagship stores in New York
City and Atlanta, Higher Standards currently operates shop-in-shop
stores in The Pottery and Cannary West in Los Angeles, and the Bud
& Bloom in Santa Ana, California, with plans for additional
collaborations with retailers whose high level of style and
contemporary taste align with the Higher Standards brand.
About Greenlane Holdings,
Inc.Greenlane (NASDAQ: GNLN) is one of the largest global
sellers of premium cannabis accessories, CBD and liquid nicotine
products. The Company operates as a powerful house of brands, third
party brand accelerator and distribution platform for consumption
devices and lifestyle brands serving the global cannabis, CBD, and
liquid nicotine markets with an expansive customer base of more
than 11,000 retail locations, including licensed cannabis
dispensaries, and smoke and vape shops. Greenlane has an
established track record of partnering with brands through all
stages of product lifecycle, providing a range of services
including product development, go-to-market strategy, sales and
marketing support, market research, customer service,
direct-to-consumer fulfillment, warranty repair, supply chain
management, and distribution. In addition to owning and operating
its own brands, Greenlane is the partner of choice for many of the
industry’s leading players including PAX Labs, (Canopy-owned) Storz
& Bickel, JUUL, Grenco Science, Firefly, DaVinci, Select,
Sherbinskis, Bloom Farms, Mary’s Nutritionals, Cookies and dozens
of others. Greenlane’s house of brands is comprised of
child-resistant packaging innovator Pollen Gear; VIBES rolling
papers; the Marley Natural accessory line; the Keith Haring
accessory line, Aerospaced & Groove grinders, and Higher
Standards, which is both an upscale product line and an innovative
retail experience with flagship stores at New York City’s famed
Chelsea Market and Atlanta’s Ponce City Market. The company also
owns and operates Vapor.com, an industry leading e-commerce
platform which offers convenient, flexible shopping solutions
directly to consumers. For additional information, please
visit: https://gnln.com/.
About JamestownJamestown, LP
was established in 1983 as an investment and management company
focused on income-producing real estate in the United States. Over
the last 35+ years, Jamestown has grown its portfolio of assets in
key markets throughout the U.S. and expanded its investment
footprint to South America and Europe. Jamestown's capabilities
include: acquisitions, capital markets, property management, asset
management, retail leasing, design, sustainability, and risk
management. Jamestown has headquarters in Atlanta, GA and Cologne,
Germany, and offices in New York, NY, Boston, MA, San Francisco,
CA, Los Angeles, CA, and Bogota, Colombia. For more information,
visit www.jamestownlp.com.
Media Contact:Cory
ZiskindICR646-277-1232greenlane@icrinc.com
Investor Contact:Scott Van
WinkleICR617-956-6736scott.vanwinkle@icrinc.com
Fallon McLoughlinCorporate Communications,
Jamestown Mobile: (631) 921-8683Email:
Fallon.McLoughlin@Jamestownlp.com
Photos accompanying this announcement are
available: https://www.globenewswire.com/NewsRoom/AttachmentNg/cb0d0052-3b9b-4e27-bf23-3c1724135187 https://www.globenewswire.com/NewsRoom/AttachmentNg/f5f11a7b-32ba-4214-8946-54aa3b522481
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