Jay-Z's Luxury Cannabis Brand Faces Collapse After $575 Million Launch

Monogram, launched in 2020 by Jay-Z and The Parent Company, struggled to meet expectations in California's challenging cannabis market.

Jay-Z's cannabis brand Monogram debuted in 2020 with high ambitions, backed by $575 million from The Parent Company and promises to dominate the market.
The brand's luxury positioning, including $50 joints, failed to resonate with consumers, receiving negative reviews and being described as mid-tier quality.
The Parent Company reported a staggering $587 million net loss in 2022 and later merged with Gold Flora, taking a minority stake in the new entity.
Monogram officially separated from The Parent Company in 2022, ending Jay-Z's involvement, while Gold Flora also faces significant financial struggles, including $56 million in losses this year.
Experts attribute the failure to overspending, high taxes, competition from illicit markets, and a product that did not justify its premium pricing.