The grandson of the founder of the supercar brand Lamborghini, Ferruccio Lamborghini, has been in the coffee business for over 30 years and just signed a licensing deal with Canada-based Flora Growth Corp. to branch out into cannabis.
Their first joint offering will be a cannabidiol-infused coffee. It will utilize CBD, the non-psychoactive compound of cannabis, which has demonstrated effectiveness as a relaxative.
“The cannabis market represents a very interesting niche, and we intend to offer a different luxury experience,” Lamborghini, the chief executive officer of Tonino Lamborghini, said.
Many cannabis companies are jockeying for positions in the cannabis beverage market. Projected to be very lucrative, global cannabis sales are projected to double by 2025.
Flora Growth said its coffee offering would be launched in the first quarter of 2022 and will be made in Florida for sale in those U.S. states where cannabis-based products are legal.
The licensing agreement is to sell cannabidiol-infused beverages in North America and Colombia. Medical marijuana cultivation has been legal in Colombia since 2016, and the country is poised for entry into lucrative international cannabis markets.
The licensing deal terms give Flora the right of first refusal to produce and distribute any CBD or CBG products globally under the Tonino Lamborghini brand. The CBD-infused beverage will likely be packaged in glass bottles.
Lamborghini has long been thought of as the classic Italian sports car. Sleek, fast, and low to the ground. Many would be surprised to learn that Lamborghini is now actually a unit of Volkswagen run by members of the Lamborghini family.
The Tonino Lamborghini product line will be produced with molecular tagging and authentication technology from Applied DNA Sciences, Inc. to ensure product verification. This technology will help Flora to ensure that the company’s products are derived distinctly from Flora’s operations to reduce concerns around counterfeit products or an illicit market or throughout Colombia or North America.