A look inside the California cannabis brand that is attracting big-name cannabis funds and prominent investors – New Cannabis Companies

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Exclusive interview with Pure Beauty co-founder and CEO Imelda Walavalkar

Pure Beauty, a California-born cannabis brand, recently received support from prominent investors with a $ 5 million donation increase. Co-founder and CEO Imelda Walavalkar gave New Cannabis Ventures an insight into the brand’s California presence, commitment to sustainability and expansion plans. The audio of the entire conversation is available at the end of this written summary.

Social Justice Roots and the Pure Beauty Team

Walavalkar studied social justice and began her career with nonprofit organizations that served formerly incarcerated people. The fight against institutional racism made her feel unsure whether or not she could make a difference. She turned her career around and started a catering company. For Walavalkar, cannabis was the natural evolution of her career, combining her passion for social justice and making things.

More than 65 percent of the Pure Beauty team are women and minorities. According to Walavalkar, diversity is a key success factor for the company. In addition to this internal commitment, the company donates proceeds to purposes and organizations that are guided by its own values ​​and work for social justice.

To this day, Walavalkar and her co-founders Irwin Matutina and Tracy Anderson form the small but fragile management team. Matutina is an artist and has served as the art director for a number of brands, while Anderson has a background in branding.

Now, with more funding, the company is at a turning point, according to Walavalkar. It will build its management team with more employees who can contribute to greater efficiency and expansion.

Pure beauty in California

Pure Beauty has 24,000 square feet of indoor growing in Sacramento. It is in the process of putting 22,000 square feet of canopy online with the aim of completing the first harvest in November.

The company started in 2017. In the first year it had products in about 40 doors. It has now serviced more than 250 doors and continues to increase its sales quarter by quarter. In the beginning, the company’s pre-rolls were somewhere around the No. 60 mark in California, but now they’re a top eight to top five pre-roll brand, according to Walavalkar. By adding more SKUs, entering more product categories like edibles, adding new cultivations to the flower range, and accessing more doors, she hopes the brand will make even more strides.

The Pure Beauty Preroll Manufacturing Team

In addition to its cannabis products, Pure Beauty is expanding its presence through clothing, art, and other non-cannabis products sold through its drugstore platform. This platform has seen strong sales in markets such as New York, Europe and Japan.

sustainability

Pure Beauty has made environmental sustainability a priority. The company grows in the ground on a large scale, uses LED lights, and takes an innovative approach to water and energy. It draws water from the air with HVAC and dehumidifiers and uses minimal water from the California faucet. In addition, it generates all of its electricity on site using microturbines.

Sustainability is at the core of Pure Beauty’s business model.

Pure beauty in Michigan

The company is expanding into the Michigan market through a partnership with Gage Growth Corp. Ultimately, Walavalkar aims to make Pure Beauty a national and global brand, and this partnership is the first step towards that goal. However, this step and any subsequent growth phase are intentional. The company wants partners who can achieve the same level of quality and maintain the integrity of the Pure Beauty brand. Walavalkar wants consumers in Lansing to find the same pre-roll quality as they do in San Francisco.

Expansion plans

New York is a dream state for the Pure Beauty team; According to Walavalkar, the brand feels culturally with New York. The company is currently in discussions about potential expansion into markets such as Florida, Massachusetts and Nevada. Growth is on the table and the team remains open to options, be it partnerships or M&A, but California will remain its priority.

Fundraising

Pure Beauty recently raised $ 5 million in a convertible bond fundraising round. The Californian brand attracted investors such as Gron Ventures, Ceres Group Holdings and Subversive Capital. Celebrities Timbaland, Nas and director Tom Kuntz also took part in the round. The company was looking for investors who would bring in both strategic support and capital, and Walavalkar is excited about the network of investors curated by Pure Beauty.

This latest round of funding will help Pure Beauty grow its team, develop new products, expand geographically, and find more creative ways to storytell the brand.

Gron Ventures was the primary investor in the company’s first increase and the second increase. Walavalkar believes the company can rely on many of the same investors if it continues to execute. However, the team will continue to look for more potential partners as it evolves. In its next round, the company could look for partners outside of the cannabis space.

What’s next?

Pure Beauty cannabis flowers

With more cultivation and online SKUs, as well as geographic expansion, Walavalkar expects Pure Beauty to at least double its sales in the next eight to twelve months. The company tracks metrics such as sales, margin growth, number of doors, growth within its doors and cost of goods sold. It also looks at less quantifiable metrics, like brand traction.

As the company grows, the stakes in this hyper-competitive industry get higher. Walavalkar and her team will endeavor to remain adaptable and carefully decide which of the many potential opportunities to pursue.

To learn more, visit the Pure Beauty website. Listen to the entire interview:

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Carrie Pallardy, a Chicago-based writer and editor, began her career in the healthcare industry writing, editing, and interviewing subject matter experts from a variety of industries. As a published author, Carrie continues to tell her network of readers compelling, undiscovered stories. Contact us for further information.

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