ArcView Market Research has recently published the fourth edition of its “State of Legal Marijuana Markets,” which it calls “The most comprehensive report on this industry to date.” The research presents in detail the developing marijuana legal market with an emphasis on Washington and Colorado. According to projections Washington State is expected to be the largest legal sales market by 2020, with estimated sales of $2.3 billion.
In 20015 alone legal sales of marijuana products totaled more than $709 million in Washington State, which is an increase of 242% over 2014. The vibrant market and the high probability of sales growth continuously attracts new businesses in the marijuana market to the state, like Diego Pellicer Worldwide (OTCQB: DPWW), which is expected to open their flagship retail store in Seattle on May 4th.
Diego Pellicer Worldwide is a real estate and a consumer retail development company that is focusing on developing Diego Pellicer as the world's first premium marijuana brands for its facilities and its branded cannabis and non-cannabis products.
The Company will be hosting a Media Day as part of the grand opening of the store in Seattle. In addition, Diego is also sponsoring a Cannabis Thought Leader Series™, hosted by Small Cap Nation, which will feature leading experts in the cannabis field, who are expected to discuss various elements of the medical and recreational cannabis sector. An important topic of the event will be on entrepreneurs and investors, and their opinions on these rapidly changing markets.
As for business operations, Diego explains that its revenue comes from the role real estate plays in the cannabis industry. The company leases legally compliant locations for growing, retailing or medical dispensing of marijuana, and is also involved in café operations of non-infused products as well as in ancillary products including branded apparel. Diego Pellicer doesn’t grow marijuana, sell marijuana or profit from the sales of marijuana.
Diego's CEO, Ron Throgmartin, said "This grand opening is the culmination of several years of diligent work by our savvy, experienced executive team... This represents the initial step in the roll-out of our retail locations in those states where recreational and medical cannabis retail are a legal, burgeoning market, and serves to exemplify our unique business model that adroitly addresses the immediate hurdles in front of entrepreneurs in the cannabis industry, while simultaneously incorporating provisions for shareholder value creation as various federal regulatory restrictions are anticipated to be lifted in the future."
Diego Pellicer Worldwide’s second, branded retail location in Denver, Colorado is anticipated to open in the third quarter of 2016.