This is part two in a series on the cannabis beverage industry. Click here for part one.
Cannabis cocktail time
MXXN
Spirit industry veteran Darnell Smith launched MXXN (pronounced ‘moon’) in 2021 as non-alcoholic one-to-one replacements for gin, tequila and bourbon aimed at customers “who want to cut back on the booze, but not the buzz.” The names of each product evoke the spirit it aims to replace: Kentucky Oak for bourbon, London Dry for gin and Jalisco Agave for tequila. The products are meant to be additions to the bar cart for those who want to enjoy the rituals and social aspects of cocktails without the alcohol.
The cannabis category that Mxxn joins is growing rapidly, but also presents challenges to entrepreneurs moving in. Along with the typical battles cannabis companies face like trying to access capital and banking services, and making a profit without being allowed to deduct typical business expenses from their taxes, beverage companies face additional roadblocks. There is generally no equivalent to a “bar” where adults can socialize and consume cannabis the way they can alcohol. Consumers purchase the beverages from a dispensary and have to take it home or elsewhere. The availability of consumption lounges would drive sales significantly and allow the beverages to compete more directly with alcoholic beverages.
Launching his company and product line, Smith’s goal for the new MXXN products is to “get…
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This is part two in a series on the cannabis beverage industry. Click here for part one.
Cannabis cocktail time
MXXN
Spirit industry veteran Darnell Smith launched MXXN (pronounced ‘moon’) in 2021 as non-alcoholic one-to-one replacements for gin, tequila and bourbon aimed at customers “who want to cut back on the booze, but not the buzz.” The names of each product evoke the spirit it aims to replace: Kentucky Oak for bourbon, London Dry for gin and Jalisco Agave for tequila. The products are meant to be additions to the bar cart for those who want to enjoy the rituals and social aspects of cocktails without the alcohol.
The cannabis category that Mxxn joins is growing rapidly, but also presents challenges to entrepreneurs moving in. Along with the typical battles cannabis companies face like trying to access capital and banking services, and making a profit without being allowed to deduct typical business expenses from their taxes, beverage companies face additional roadblocks. There is generally no equivalent to a “bar” where adults can socialize and consume cannabis the way they can alcohol. Consumers purchase the beverages from a dispensary and have to take it home or elsewhere. The availability of consumption lounges would drive sales significantly and allow the beverages to compete more directly with alcoholic beverages.
Launching his company and product line, Smith’s goal for the new MXXN products is to “get…
