Budding Business: Pineapple Express Takes Fresh Approach – Los Angeles Business Journal

While once billion-dollar cannabis darlings go up in smoke as the industry bubble deflates, one Los Angeles company plans rapid expansion with a unique dual business model it says can muster up multiple revenue streams to survive.

Pineapple Express Cannabis Co. recently launched a $5 million common stock fundraise to develop nine cannabis stores in properties owned by its sister company, Pineapple Inc. 

Six stores are to open in the Los Angeles basin and three will be in the San Fernando Valley, soon donning the same neon yellow and green branding as the company’s flagship store at tourist hotspot Hollywood and Vine. Neighborhoods mapped in the expansion include Echo Park, Van Nuys, Woodland Hills and Beverly Grove.

According to company leadership, Pineapple Express received full licensing for all locations earlier this year and plans to stagger each location’s opening throughout next year.

If all planned assets ultimately open their doors, Pineapple Express will become one of the largest cannabis dispensary chains in the state. MM Enterprises, the operator of the “Apple store” weed brand MedMen, still reigns first with 13 locations in California.

One brand opening so many stores in such a tight timeframe is unprecedented for the cannabis industry —

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