Everyone is getting in on the booming cannabis industry, and this includes retailers you wouldn’t automatically associate with weed. On Tuesday, luxury retailer Barneys became the latest player in the competitive landscape with a new shop called, of course, The High End.
The Beverly Hills-based in-house boutique will feature a collection of pricey accessories and CBD-infused wellness products, like a $950 bong and $1,475 weed grinder. The retailer partnered with luxe cannabis brand Beboe, which will provide an assortment of $75 THC vape pens and calming CBD oils.
Rounding out the assortment will be “rare and exclusive items” made exclusively for Barneys, like gold rolling papers from Shine, fancy horn lighters from Lorenzi Milano, leather ashtrays from Giobagnara, storage boxes from Ginger Brown, and custom-made blown glass pipes from Caleb Siemmon. Customers can also purchase jewelry and accessories, including sterling silver pastille dispensers and grinder necklaces.
“Barneys New York has always been at the forefront of shifts in culture and lifestyle, and cannabis is no exception,” Daniella Vitale, chief executive officer and president, Barneys New York, said in a press statement. “Many of our customers have made cannabis a part of their lifestyle, and The High End caters to their needs with extraordinary products and service they experience in every facet of Barneys New York.”
Opening in March, The High End will be located on the fifth floor of Barneys New York Beverly Hills. As Fast Company reported, many traditional retailers today look to attract consumers with new experiences that capitalize on the $4.2 trillion wellness industry. Barneys joins Sephora and others that now carry soothing cannabis products that appeal to new demographics.
It’s an increasingly common retail strategy: Millennials, who put a premium on health and experiences, spend less on clothing and more on products that could potentially affect their overall well-being. Stores therefore target multiple facets of their lives, which now includes feel-good pursuits and products.
“As wellness brands gain market share in the overall market, retailers are both catering to consumer demand and attempting to bring more excitement to their floors to attract new consumers,” Larissa Jensen, beauty industry analyst at The NPD Group, previously said in an email.
The High End joins a small but growing circle of upscale cannabis stores, such as MedMen, a chain of design-forward cannabis shops that aims to mainstream marijuana. (It was dubbed “the Starbucks of weed” by Fast Company.)
As more states legalize marijuana, the industry is expected to grow to $50 billion in 2026 from $6 billion last year, according to a recent report from Cowen & Co. That leaves much room for newcomers like Barneys, as well as novel ways to experience the plant: Vox reports that cannabis restaurants, cafes, and consumption lounges are now on the horizon. That might just be phase two for retailers.
Recognize your company's culture of innovation by applying to this year's Best Workplaces for Innovators Awards before the extended deadline, April 12.
