One of the world's richest musician's pot company goes bust, here's what went wrong
However, four years later, Monogram appears to have vanished from store shelves. The brand’s website lists just nine retailers, but none of them feature Monogram products on their online menus. Its parent company, The Parent Company (TPCO), once hailed as a cannabis giant, has also fallen from grace. After launching with $575 million and ambitious plans to dominate the market, TPCO burned through nearly half a billion dollars. It was forced to merge with Gold Flora in 2023, and now holds a minority stake in the struggling entity.
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Despite the initial hype, Monogram’s products failed to live up to expectations. Critics, including cannabis investor Seth Yakatan, noted that the “ultra-premium” cannabis was often described as mid-tier at best. A review by GQ even criticized the $50 joints for failing to stay lit. The high-end pricing couldn’t mask the brand's shortcomings, and many found the products disappointing.
TPCO’s financial troubles continued, posting a staggering $587 million loss in 2022. Gold Flora, which now holds Monogram’s rights in California, is in a dire financial state itself, with over $56 million in losses this year and substantial debt. The company’s uncertain future leaves many questioning how long it can continue operating.
Strategy
ESG and Business Sustainability Strategy
By — Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought Leader
Web Development
Intermediate
