August 4, 2021

The Distributor of Your Favourite Cannabis Products | Humble & Fume (HMBL)

Midas Letter
Midas Letter
The Distributor of Your Favourite Cannabis Products | Humble & Fume (HMBL)
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Humble & Fume Inc. (CNSX:HMBL) started as a provider of accessories in the cannabis space but has subsequently grown to include dispensaries in Canada. The company is seeing rapid growth with its expansion into the US cannabis distribution market. Humble & Fume’s customers include 85% of cannabis retailers in Canada, multiple Licensed Producers (LP), and key government partners. Humble & Fume distribute primarily cannabis & accessory products manufactured with other public cannabis names such as Supreme Cannabis, Fire & Flower, and 48North.

Humble & Fume is fully integrated with complete sales, distribution, and trade marketing support. The company has a large product portfolio, working with over 200 industry brands, and has recently launched its own FUME extracts vape brand. FUME uses a proprietary extraction process that removes terpenes from the plant without using solvents, guaranteeing a pure, true-to-strain product.

“Consumer tastes and preferences are evolving. Being able to meet consumer needs… That’s the benefit of the distribution platform is that we have the flexibility to push different levers as we continue to grow and as preferences change. We have an offering that meets all those needs and that’s the driver of our growth.” – Humble & Fume Executive Chairman Shawn Dym

Last year, Humble & Fume reported revenues of $61 million. This year with the company’s distribution expansion into the US, the company has been growing at around 50% and is tracking to make around $100 million according to Shawn Dym, Executive Chairman.

Watch the full interview to learn the business model of Humble & Fume, the company’s growth, and the cannabis product categories the company is most excited about.

Transcript

00:44 – Humble & Fume overview
01:24 – Cannabis wholesale
01:56 – Go-public transaction & growth
03:11 – Branding
04:26 – Growth rate
05:20 – Cannabis product category with brightest future
06:32 – US state by state approach
07:14 – Recreational vs medical
07:31 – Dried flower & product categories
08:43 – CBD category

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