Justin Bieber Breaks Into Cannabis With Palms Partnership
(Bloomberg) -- Justin Bieber is entering the marijuana market with prerolled joints that’s he calling “Peaches,” the name of a song from his most recent album.
The Canadian singer is working with a Los Angeles-based company, Palms, on the products. Palms specializes in prerolled cannabis products, with its seven-joint packs selling for $32 at locations in Nevada and California, according to its website.
“I’m a fan of Palms and what they are doing by making cannabis approachable and helping to destigmatize it –- especially for the many people who find it helpful for their mental health,” Bieber said in an emailed statement. A spokeswoman declined to share financial terms of the collaboration.
Scientists are studying the effects of cannabis on mental health. A 2020 paper from researchers at Columbia University and the New York State Psychiatric Institute said a popular belief that marijuana can help with depression is leading more patients to try it, but that some studies have concluded it can worsen outcomes.
“Among the most common health claims made in online advertising for recreational cannabis dispensaries is depression treatment,” the researchers said. “These messages may be increasing in frequency, while media messaging about marijuana has become more positive over time and includes less information about risks.”
Bieber, 27, has been open about how the pressures of child stardom and drug use contributed to his own mental health challenges. In a YouTube documentary series last year, he said he tried marijuana when he was 12 or 13 and eventually grew to feel dependent on it, though he said not everyone has the same experience.
Celebrities are increasingly wading into the cannabis industry. Jay-Z is chief visionary officer of the Parent Co., which sells branded cannabis products, while Martha Stewart has a line of CBD gummies in partnership with Canopy Growth Corp. Gwyneth Paltrow and Rosario Dawson are both involved with THC-drinks maker Cann.
Palms has raised capital from individuals and professional investors, according to Tyler Breton, chief operating officer of the company, whose official name is Tres Palmas Inc. “As a young and rapidly growing company, it’s exciting to find talented people who will enter into true partnerships where both of us are rewarded as the product succeeds,” he said in an emailed statement.
Bieber’s target demographic, Gen Z and millennials, make up almost 40% of the cannabis market, according to the 2020 HQ Cannabis Brand Affinity Report. A portion of sales from his cannabis products will support groups including Veterans Walk and Talk, a group of veterans which advocates for cannabis as medicine, and the Last Prisoners Project, a nonprofit that aims to free people convicted of marijuana possession. It will also support diversity in the marijuana industry.
“They both closely align with Palms mission of making cannabis approachable and mainstream,” Tres Palmas Chief Executive Officer Noah Annes said in an emailed statement.
As for the name of the product, it ties in with the chorus of Bieber’s song: “I got my peaches out in Georgia. I get my weed in California.”
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