LOS ANGELES–Cannabis company MedMen has announced the opening of a cannabis dispensary location in the heart of New York City, at 433 5th Avenue, in Manhattan. The 10,000 square foot facility will open on April 20, bringing a 4/20 grand opening event to Manahttanites eager to celebrate the marijuana holiday.
“The future of cannabis is a mainstream shopping experience where responsible adults and marijuana patients can access products in an inviting and familiar environment,” MedMen Communications Director Daniel Yi said. “We are proud to bring this experience to New York, and showcase it in one of the most iconic shopping districts in the world.”
Yi also said that construction on the NYC location is nearly completed. Shop interiors will resemble MedMen’s other stores, with streamlined and minimal fixtures and clean, modern style.
Only medically certified patients that are New York State residents will be able to purchase products at the dispensary.
The new facility will be one of three dispensaries located in Manhattan, and the first for MedMen in Manhattan, bringing their total of New York state dispensaries to four. They also have multiple California locations and one facility in Nevada, with three more scheduled to open soon in Las Vegas. MedMen has been called “the Starbucks of pot” in various media reports.
The company also operates a cannabis grow location in upstate New York; part of the vertically integrated business structure that allowed the company’s expansion into the New York market.
MedMen also recently announced expansion into the Canadian market in partnership with Canadian cannabis company The Cronos Group. Through the partnership, MedMen will develop stores and products for the Canadian market.
Cannabis legalization in Canada enables a robust market for companies that can operate nationwide, with the expectation that several cannabis companies will generate billion dollar valuations and be primed to enter global markets, as they expand.
(Courtesy Jimmy Kimmel Live – At MedMen, Guillermo runs into a New Yorker)