Sweet Flower, Los Angeles' Largest Owned and Operated Retailer, Launches Flagship Store in Culver City and Announces Record 2021 Results
LOS ANGELES, Jan. 21, 2022 /PRNewswire/ -- Sweet Flower, Southern California's leading cannabis retailer, announces that it will open its flagship store in the global creative capital, Culver City, California, on January 21, 2021, culminating a three year merit-based application process in which Sweet Flower ranked first, ahead of a large field of national MSOs and regional operators for one of only three retail and delivery licenses in Culver City, solidifying Sweet Flower's market position as Los Angeles' leading cannabis retailer.
The opening of Sweet Flower Culver City makes Sweet Flower the largest and the most premium owned and operated cannabis retailer in Los Angeles.
Sweet Flower Culver City joins Sweet Flower's existing brick and mortar retail and delivery network across Los Angeles, including its multiple stores in and serving Westwood, Brentwood and Santa Monica, Melrose, Mid-City and West Hollywood, Studio City, Sherman Oaks and The Valley, and Downtown Los Angeles and the LA Arts District.
Sweet Flower Culver City is located in the heart of Culver City, directly across from Apple Studios, Sony Pictures and Equinox, a quarter mile from Amazon Studios, Warner Media and HBO, and within a 1.5 mile radius of a residential population of over 100,000, and will be the first and only dispensary to date in the most limited license market in California.
"The launch of Sweet Flower Culver City builds on our successes in 2021, where, despite the doom and gloom elsewhere in California cannabis, Sweet Flower organically grew revenues in excess of 50% over 2020, improved gross margins by double digits, and worked with an impressive number of brands and celebrities on exclusive product launches, including Chelsea Handler, Seth Rogen, Lionsgate, HBO Max, MGM, Tove Lo, CANN and Houseplant, among many others, in the largest and most competitive legal cannabis market in the United States," said Tim Dodd, CEO and co-founder of Sweet Flower. Dodd added, "The much-anticipated launch of our Culver City flagship reflects our long-standing commitment to our community, and to representing the communities most impacted by the war on drugs. One quarter of the products launching at Sweet Flower Culver City are black-owned brands, in excess of twelve times the average state participation, and we have one of the highest diversity and inclusivity indexes in the industry across our team, with an even higher diversity ranking at our corporate leadership team." Dodd continued.
Sweet Flower is preparing three more licensed locations in California for launch in early-mid 2022, including Sweet Flower Pasadena and Sweet Flower Fresno, doubling the number of its stores in 2022 over 2021, and, in addition, has several active license pursuits underway throughout California.
This press release contains "forward-looking information" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects the current beliefs of Sweet Flower and is based on information currently available to Sweet Flower and on assumptions that Sweet Flower believes are reasonable. Such forward-looking information contained in this news release represents the expectations of Sweet Flower as of the date of this news release and, accordingly, is subject to change after such date. However, Sweet Flower expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE Sweet Flower
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