Strategies for Thriving in the Competitive Cannabis Market: A Conversation with Edward Schmults, CEO of StateHouse Holdings
Ed Schmults, CEO of Statehouse Holdings, a major player in the cannabis industry shares his unconventional journey from Wall Street and outdoor clothing to becoming a leader in the cannabis world. He delves into the challenges and opportunities of the evolving California cannabis market, discussing the impact of the illicit market, brand strategies, customer segmentation, and more. With deep insights into the industry's nuances, Ed sheds light on the importance of focusing on customers, innovation, and building strategic relationships for success.
Edward Schmults has more than 30 years of experience in global branded consumer products, omnichannel retail, product development, finance, operations, IT, and green and socially responsible businesses. He held CEO roles at FAO Schwarz and Wild Things Gear, and COO roles at Patagonia and Red Envelope, where product quality and customer experience drive the success of brands. In addition, Ed has strong operational experience, having set up and improved warehouse, logistics, and technology infrastructure at five different companies. Since 2018, Ed has utilized his extensive knowledge as the CEO of Calyx Peak Companies (“CPC”). In his role at CPC, he set the company vision and direction in multiple states. CPC oversaw licensed facilities for cannabis cultivation, manufacturing, and distribution in California; cultivation and manufacturing in Ohio; and cultivation in Nevada.
Ed has spoken at numerous cannabis investor conferences as well as at MJBizCon, the cannabis industry annual trade show. Ed began his career in investment banking at Goldman, Sachs & Company. Ed is also on the board of Vera Bradley and the Board of Advisors of First Insight, a predictive data analytics company. He is a former Vice Chairman of the Board of REI, the large national outdoor retail company. Ed holds an MBA from Harvard Business School and a BA in Economics and Political Science from Yale University.
LinkedIn (Ed Schmults): https://www.linkedin.com/in/ed-schmults-89097/
LinkedIn (StateHouse Holdings): https://www.linkedin.com/company/statehouse-holdings/?trk=similar-pages