JAY-Z’s Monogram weed brand is in big trouble.
Monogram was launched in 2020, with the expectation that Hov’s fans would pay $50 for prerolled joints and other such goodies.
They did not, for the most part.
Monagram still has nine retail stores across the country. However, JAY’s name is absent from any of their current offerings, and the conglomerate behind Monogram, The Parent Company (TPCO), has burned through most of its $575 million launch cash.
The failure of Monogram is attributed to California’s unexpectedly competitive legal weed market and to products that were “overpriced and underwhelming.”
Luckily for Hov, most of the money lost isn’t his. He was the company’s face and chief visionary officer but didn’t have much of an ownership stake.
Nevertheless, his failure to sell legal drugs calls into question some of his claims about his earlier success in the illegal market.