Hi.
Jane West loves smoking cannabis flower every day. She cleverly designs, invents, and manufactures products dedicated to make life Better With Jane.
Jane West loves smoking cannabis flower every day. She cleverly designs, invents, and manufactures products dedicated to make life Better With Jane.
Dear Friends,
I am reaching out to share our Q3 performance details and provide an update on all things Jane West. Nearing the end of our first revenue-generating year, the future couldn't be brighter. Our entire 2018 product line is fully stocked and we are busily fulfilling orders.
We’re taking a bit of time this fall to appreciate how far we’ve come in three short years – but we’re also charging boldly into the future. As you’ll see below, we’re preparing for a very busy winter.
I have never believed more strongly that this company embodies far more than just my own radical rebranding. It encompasses everyone who works with me, everyone who buys our products, and, of course, all of you. Together we’re transforming the cannabis experience, building a world where people everywhere can feel comfortable and empowered to embrace the joys and benefits of this very special plant. It's happening... it's all really happening.
My best,
Jane West
First, a quick look at the numbers. Jane West has generated just over $240k in sales since inception in October 2016.
Through 2018 YTD, the company has generated $148k of those sales; $18k in royalty & affiliate revenue and $130k in product revenue. We’ve maintained over a 46% gross profit margin on all cumulative sales channels including royalties, affiliate sales, and product sales for 2018 YTD.
We’ve generated a 50% total gross margin in Q3 and a 49% gross margin on product sales alone (not including a minor adjustment that was made to inventory for prior periods). Total sales increased by 21 percent from Q2 2018 to Q3 2018. Total product-related sales increased 40 percent from Q2 2018 to Q3 2018. Discounts and returns on products remain at under 2 percent for all sales.
We’re currently launching the Jane West CBD Collection, featuring two universally available health and wellness product lines infused with all-natural cannabidiol (CBD): Jane West CBD Coffee, a selection of CBD-infused gourmet coffee beans; and Jane West Day and Night CBD Capsules, a daily regimen of consumable CBD supplements. We worked closely with established, respected pioneers in the CBD space to produce carefully crafted products that make it easy for consumers to integrate this healthful, non-intoxicating cannabinoid into their lifestyle.
With CBD understandably all the rage these days, we’re thrilled to be entering the market with these wholesome, perfectly positioned product lines.
The Jane West Flower Collection, our line of branded cannabis mini-joints, is sweeping the country. In Massachusetts, we’ve partnered with CommCan, which will provide statewide distribution. Commcan was one of the first facilities to open their doors in Massachusetts and is 100 percent owned and operated by native Massachusetts residents.
In Washington State, we have partnered with Dynamic Processors and can't wait to finally bring our products to the West Coast. After that, we’re expecting to hit cannabis markets in Pennsylvania, Maryland, Ohio, and Michigan.
Company CEO Jane West continues to spread her story of empowerment far and wide. In August, Jane presented at Crafting the Future, the global cannabis women’s summit in Toronto. Jane also visited Hope Wiseman and her mother at the Grand Opening of Mary & Main in Maryland.
The following month, she traveled to Hartford, Connecticut to outfit the 2018 Farm Aid Festival, the annual celebration of music and family farmers, alongside Willie Nelson, Neil Young, Margo Price and fellow Denverites Nathaniel Rateliff and the Night Sweats.
Later in September, she spoke about cannabis financing and investing at the Cannabis Law Institute, a two-day cannabis legal education event in Washington D.C. produced by the National Cannabis Bar Association in partnership with The George Washington University Law School.
To celebrate Jane’s five-year anniversary in the cannabis industry – not to mention the five-year mark of the launch of Colorado’s historic legal cannabis market – Jane will be telling the story of her journey in the cannabis space in a personal blog series. Over the next few months, she will be recounting the crazy, thrilling, and sometimes shocking things she’s experienced over the past five years – and what she’s learned from them.
We’ve been in the news. In The New York Times, “Critical Shopper” columnist Katherine Bernard used the appearance of our products at the Higher Standards shop in New York’s Chelsea Market to signify that cannabis products have gone highbrow. In Marie Claire, Jane helped writer Cady Dwell explore the red-hot CBD coffee trend. The lifestyle media company Brit + Co, meanwhile, named Jane one of “4 Female Entrepreneurs That Are Trailblazing the Cannabis Industry.” And in Canada, HuffPost Quebec highlighted Jane West products in its in-depth guide to cannabis legalization, while Globe and Mail columnist Denise Balkissoon noted Jane’s August presentation at the Crafting the Future women’s summit in Toronto in her thoughtful report on the conference.
We are aiming to close the remaining $326K of our $1.2MM seed round at our $10 million valuation this year. If you or accredited investors in your network are interested, please email jane@janewest.com to schedule a 15-minute phone call.
