The delicate themes of resiliency and readiness in hashish have been woven all through this 12 months’s Chicago iteration of the Benzinga Hashish Capital Convention, happening June 8-10. Most manufacturers in attendance weren’t simply those that managed to outlive the trade amidst financial downturns. Slightly, the manufacturers displaying as much as community have been in reality thriving.
An obvious shift in enterprise additionally happened at Benzinga. Previously, most corporations attended the invite-only occasion to shake palms with potential buyers and hopefully safe capital commitments to launch a promising hashish enterprise thought. Nonetheless, a lot of the manufacturers in Chicago have been already previous that section, having already earned funding and launched their companies. As a substitute of searching for funding, they arrived at Benzinga seeking to be taught from all the brilliant minds within the room and to develop by way of partnerships and inventive collabs.
Success Ideas From Business Leaders
Hashish Now met with a number of respected manufacturers at Benzinga Chicago to learn the way they handle to keep up success, and what recommendation they’ve for navigating the complexities of the hashish trade. Listed below are some insightful takeaways from only a few of our conversations:
Kristi Palmer, co-founder and president of Kiva Confections: Palmer believes Kiva’s continued success comes right down to its big selection of merchandise, which incorporates not simply edibles, but in addition pre-rolls, vapes and flower. Staying agency on cost phrases—even when it’s not the simplest path—has additionally been an enormous a part of conserving the enterprise robust.
“A retailer can cease shopping for Kiva, however edibles nonetheless make up a small share of the market and of complete gross sales in a dispensary. However flower, vape, pre-roll—it’s fairly onerous for a retailer to say goodbye to all these merchandise,” Palmer defined, chatting with the ability of their portfolio, which has helped place Kiva as one in all California’s solely remaining distributors. And in terms of cost phrases, Palmer is evident that for the well being of their enterprise, they “have to attract a tough line within the sand.”
Howard Lee, CEO of SōRSE Expertise: Lee shared that his workforce works onerous to maintain prices low and keep ready for any potential income dips, with the aim of staying worthwhile—even when the market will get powerful. He additionally mentioned how vital it’s to again up their services and products with actual information and science, one thing he feels actually units them other than rivals who typically lack that stage of credibility.
“We’ve so many individuals who copy us, however they don’t copy us sufficient to make it proper,” Lee explains. “So, what we will present folks is actual information. A lot of the different groups which are competing in opposition to us don’t have the info backing up their science.”
Kevin Koby, CEO of Abstrax Tech: Abstrax Tech is the main supply of botanical terpenes and flavors for the hashish market. Regardless of Abstrax’ success inside this area of interest, the model is frequently searching for methods to innovate and evolve to remain related. Koby expects the hashish trade will preserve experiencing highs and lows, however the operators who’re greatest positioned will come out on prime.
“It’s actually onerous within the hashish trade, and stress makes diamonds, so we found some know-how that we predict will likely be relevant to the broader taste trade,” Koby says, including that Abstrax is getting into the brewing trade with the brand new tech to broaden their enterprise mannequin. “There are many ups and downs within the hashish trade, so we try to diversify a bit.”
Why Benzinga?
Model leaders share why they preserve coming again to Benzinga—and what stood out in Chicago this month.
Cameron Forni, CEO and Founding father of Adaptaphoria and International Can Beverage (GCB), introduced the launch of his new fast-acting beverage model Adaptaphoria at Benzinga Chicago, resulting in vital gross sales and optimistic media consideration.
“It’s been two and a half years of growth on this model and beverage and formulation. In order that’s stored me from lots of occasions,” Forni shares. “So, that is the primary time we’re popping out right here, saying it, and truthfully, it’s been reinvigorating. It’s been thrilling. We did over $50,000 in gross sales simply yesterday from folks attempting it, and we received a ton of optimistic press, optimistic consideration. I couldn’t be happier. The Benzinga Capital Convention went extremely effectively for us.
Seth Yakatan, co-founder of Katan Associates, spoke on a panel known as “The Subsequent Era: Making a Case for Mid-Market Investability.” With greater than 35 years in hashish, Yakatan helps folks purchase and promote corporations and lift capital. Presently, he says he’s centered on three primary areas: “I preserve my eye on the pharmaceutical enterprise, the wellness enterprise—broadly talking—and the hashish enterprise.”
Yakatan attends as many Benzinga occasions as doable, discovering them extremely useful for assembly high-level decision-makers and effectively connecting with folks from varied markets with out having to journey extensively. “[Benzinga] has been an exceptional supporter of mine and an incredible accomplice, particularly the annual assembly,” he says. “For me, it’s the aptitude to fulfill with vital, high-level determination makers at 70 or 100 corporations and actually get a pulse on what’s occurring in every market with out having to go to every market.”
Whereas Yakatan particularly values the effectivity of the Benzinga occasions, Kiva’s Palmer who spoke on the panel known as, “The Hemp Business Divide: Fast Money vs. Sustainable Development,” commented on how the convention has shifted from being centered on capital funding offers to partnerships, mergers and acquisitions (M&A), and out-of-state growth. “We come to this convention due to the standard of who reveals up. Even for those who’re not elevating cash, there are nonetheless so many different alternatives that that group of individuals can speak about,” she says.
Lastly, Lee of SōRSE Expertise, the main hemp and terpene emulsion provider for CPGs and different meals, beverage and topical producers, emphasised the significance of displaying up constantly at occasions like Benzinga to construct long-term relationships. “Simply displaying up is 90% of the battle,” he says. “Benzinga is an efficient place to fulfill folks you’ve met for years, and a part of elevating cash is to be right here 12 months in and 12 months out, proper?”
Cultivating Minds & Spirits
The 2025 Benzinga Chicago convention kicked off with a ladies’s networking occasion known as Canna & Espresso on Monday morning, June 9. Subsequent, the occasion moved into opening remarks and market evaluation earlier than starting a sequence of panels spanning a variety of thought-provoking matters in hashish and enterprise.
Exterior of the convention, affiliate occasions introduced collectively attendees in a extra informal, social setting. The Benzinga Hashish Pairing Consumers Dinner introduced collectively prime CEOs, determination makers and members of the press for an unique three-course culinary expertise the place manufacturers may showcase their merchandise in a aware, guided consumption setting.
“In terms of consumption occasions, there’s an actual artwork to guiding folks by way of their excessive—one thing that I train by way of CashoM and one thing that few really perceive,” says Philp Wolf, CEO of Cultivating Spirits and CashoM, which produced the occasion with assist from Cloud 9 Studios’ Cannaluxxe Wellness Academy. “It’s about weaving schooling into partaking demonstrations which are inspiring whereas holding area so friends can absolutely drop into their expertise. On the similar time, there’s a fragile steadiness: ensuring sponsors really feel seen and valued whereas creating an unforgettable time for everybody attending.”
After one other day of audio system, Benzinga Chicago 2025 concluded with an official After Occasion, “The Ultimate Spark,” on the Tunnel Treehouse Rooftop. Visitors sipped on curated cocktails, continued networking, and celebrated a profitable occasion underneath the celebrities.
Predictions
Whereas there’s no crystal ball, one can nonetheless make good choices primarily based on tendencies and market evaluation. Regardless of the unstable nature of the hashish trade, these in attendance are well-seasoned on methods to navigate modifications and stay optimistic for a robust future.
“Everyone knows [cannabis] will likely be authorized federally, sometime, someday sooner or later,” Lee says. “And for those who preserve that North Star and also you simply preserve your head down and preserve working, issues will occur.”
