CMO David Dancer has left dispensary chain MedMen
MedMen is one of the biggest dispensary chains in California so far — the company’s locations have popped up like mushrooms around the state, and the company has gone all-out with its marketing, painting whole buildings red to match the company’s packaging, and setting up stores that look more like Apple stores than traditional dispensaries, with iPads and red-shirted budtenders walking among them with recommendations. But while MedMen’s growth seems exponential from the outside, internally it seems like the company may be dealing with some problems. It’s reportedly spending a ton of money (losing $63 million in the last quarter while pulling in $36 million in revenue), the CFO was ousted and sued the company earlier this year, and now comes the news that David Dancer, MedMen’s CMO, has also decided to leave.
Dancer has only been with MedMen about a year, but the company’s marketing has definitely stood out within that time. Outside of the dispensaries’ branding, MedMen also paid director Spike Jonze to put together a short film on the history of cannabis, and Dancer reportedly led a 40-person team, according to his LinkedIn. The company also lost a COO and SVP of Corporate Communications earlier this year (in addition to the CFO’s lawsuit), so it sounds like there are some rough waters being navigated.
MedMen’s dispensaries certainly seem like they’re doing big business, despite all the chaos at the corporate level. If the company can hold on to its place long enough to stabilize (presumably when cannabis becomes legal on the federal level), it could be one of the biggest cannabis businesses in the US. But if this internal turmoil keeps up, MedMen may run aground before it ever gets away from the dock.