PORTLAND, Ore., June 15, 2016 /PRNewswire/ -- Oregonians can now easily invest in the legal cannabis movement. Smuggle Portland (www.invest-smuggleportland.com) is raising $250,000 to transform their online store into a flagship location in Portland that sells high-end, cannabis-related accessories designed for women and Baby Boomers.
Community public offerings (CPO) give local businesses an option to avoid national banks and endorse alternative financing mechanisms. This approach is different from donation-based crowdfunding, like Kickstarter and Indiegogo. CPO investors get their money back plus interest. They also boost Oregon's makers community whose sophisticated and sustainable products are sold by Smuggle Portland.
Smuggle's co-founder, Renee Spears, said, "Baby Boomers and women are fast growing segments in cannabis. They don't want to visit a headshop with black lights and blacked-out windows. We're offering them a welcoming and elegant experience, both at our retail location and online. We want to help them stay healthy and conscious with products that epitomize the Pacific Northwest, cannabis lifestyle."
Based on sales recorded for the Seattle Metro area, Portland is likely to sell over $200 million in cannabis alone in 2016. The associated products market is valued at twice that amount. This estimates the local ancillary market to be worth $400 million this year. Smuggle co-founder, Stephen Cahill, said, "We're eager to meet our investors, share our business model, and demonstrate how we're making decisions in this rapidly changing culture. I see our investors as thought leaders who want to align their money with their values."
- Any Oregon resident can invest until May 2017 at www.invest-smuggleportland.com.
- Oregon is one of 10 states to have this unique, intra-state offering.
- Women are the fastest growing demographic in the cannabis industry, and are responsible for 70% of purchase decisions in America.
- Baby Boomers are expected to account for 25% of market growth in cannabis over the next five years (Upstart Business Journal).
Smuggle Portland is co-founded by Renee Spears, owner of Rose City Mortgage and winner of numerous business awards in Oregon. Her co-founder is Stephen Cahill, a former MBA professor in business innovation at Pinchot University. Their staff includes a talented assortment of retail experts, product designers, videographers, system developers, and cannabis connoisseurs. They come from Nike, Banana Republic, and Liz Claiborne.
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SOURCE Smuggle Portland