The market for edible cannabis apparently has enough room for a luxury brand or several. Cresco Labs (CRLBF 1.09%) announced Tuesday it's rolling out a line of such goods in California.
The company is introducing Mindy's Edibles, created by Chicago-based pastry chef Mindy Segal. They are available in six fancifully named flavors: Lush Black Cherry, Glazed Clementine Orange, Cool Key Lime Kiwi, Honey Sweet Melon, Botanical White Grapefruit, and Freshly Picked Berries.
Although Mindy's Edibles have been on the market for some time, the brand was recently refreshed. All six flavors of the gummy candies are new for the line, and will debut in Cresco Labs' California-only rollout.
Cresco Labs describes Mindy's Edibles as "the [marijuana] industry's first culinary-backed, cannabis-infused edibles brand." Segal is a winner of the James Beard Award, a prestigious prize for chefs.
"Bringing Mindy's to California, and to an audience that seeks and appreciates artisanal cannabis creations, was a natural progression for a brand that's thriving in multiple other markets," the company said about its choice of state for the rollout.
Additionally, Cresco cited the presence of several of its cultivation and production facilities in California, plus an existing distribution network, as factors in its selection.
As befits a set of products created by a Chicago chef, Mindy's Edibles are readily available not only in that city, but in other dispensaries in the state. Illinois formally legalized the sale and consumption of recreational cannabis at the beginning of this year.
On Tuesday, Cresco Labs, a relatively well-known marijuana stock, closed down by slightly over 1%.