Last year, co-founders of MedMen Adam Bierman and Andrew Modlin were both ousted from MedMen. After misusing business money for security and glamour, investors chose to sue and the two were forced to distance themselves from the company.
A centerpiece article was written for Politico, making the whole debacle national news. So, it comes with a bit of a surprise that they are so quickly able to get back on their feet and tie themselves to a new venture.
For several months, they have been working with Coastal Dispensary, which works in retail and delivery in Southern and Central California. According to the CEO of Siva Enterprises who spoke to MJ Biz Daily, “[Bierman has] been going around to retailers and investors and pitching a retail-management concept, sort of along the lines of MedMen 2.0.” So a case of “ain’t broke, don’t fix” mentality.
Despite the controversy surrounding the way they spent funds, their success and entrepreneurial abilities may be too good to pass up for some. Their marketing for MedMen was second to none, including very active billboard campaigns, and a commercial directed by Spike Jonze.
Read more at MJ Biz Daily.