Binske Hones in on High-End Edibles With Intelligentsia Collaboration

In more ways than one, Binske is aiming for the high end.

The Colorado-based brand is one of dozens of emerging players dealing in super-premium recreational cannabis, including flower, pre-rolls and extracts. But in forming a partnership with specialty coffee roaster Intelligentsia to collaborate on new products – the first being a cannabis-infused chocolate bar with espresso shavings, which began rolling out at dispensaries in Colorado, Nevada and California last month – the self-styled “luxury cannabis” brand is aiming to distinguish itself as a leader in boutique, artisanal edibles.

Yet even as the edibles market outpaces cannabis sales as a whole, are there enough consumers looking for a super-premium experience? Alex Pasternack, Executive Vice President at Binske, and his partners believe there is.

“That [more sophisticated] consumer is totally out there,” he said. “The brand as a whole is catered toward the consumer looking for an elevated experience based on conscious consumption and being aware of what we’re putting in our body, and who is looking for the highest quality product – from raw ingredients to the cannabis to the packaging.”

In terms of edibles, Binske has had that high-end consumer in mind since launching in 2015. The company, a division of Colorado-based cannabis holding company Praetorian Global, has picked up several awards for its diverse range of THC-infused products, which includes fruit leathers, small-batch local honey, and extra virgin olive oil from California olives.

Working with Intelligentsia, Pasternack noted, takes the brand further into that luxury space by highlighting the parallels between cannabis and coffee, with each crop boasting a wide array of varieties with different flavors and effects. For its cacao, Binske sourced a rare wild-grown variety from Peru that was once thought to be almost extinct; the company owns the exclusive license to use it in cannabis products. The end result is a 40 gram bar made from 68% cacao and which contains 100mg of THC.

“The tiny bit of caffeine kick that you get with the THC high is just an unbelievable pairing,” said Pasternack.

Binske’s collaboration with Intelligentsia may presage an evolution for cannabis edibles overall. The first generation of mass-market edibles – packaged with clear dosing guidelines and in familiar formats like gummies, chocolate and cookies – helped shake off some of the stigma associated with cannabis and made it more accessible to a broad audience.

According to data from Headset, gummies brought in almost $1 billion in retail sales last year, representing more than 70% of the edible category’s share in California, Colorado, Michigan, Nevada, Oregon and Washington state. Yet other categories like chocolate and cookies lost share, while edibles overall fell from third to fourth place in terms of total category sales.

Within the cannabis product mix, though, edibles offer brands a chance to create experiences that go beyond simply delivering the expected buzz. Brands like infused confectionary maker Herve and chocolate brand Nove have leaned into luxury to distinguish themselves in the highly competitive market, and provide an indulgent alternative to fast-onset products. The appeal to high-end consumers is also rooted in data: a recent survey indicated that cannabis consumers continue to spend more on products despite the impact of the pandemic, while demand for better-for-you alternatives to alcohol is also on the rise. According to BDSA, edibles’ share of sales is forecasted to reach 14% ($6.7 billion) by 2026.

Though he didn’t offer details, Pasternack confirmed that Binske’s work with Intelligentsia is set to continue “over the next couple of years” and could extend into various products and category types.