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Vertically-integrated multi-state cannabis company Planet 13 Holdings Inc. (CSE:PLTH) (OTCQX:PLNH) announced the launch of its non-cannabis lifestyles brand company, and its first sponsored athlete, MMA star Chito Vera.
Bob Groesbeck, co-CEO of the Las Vegas-based cannabis powerhouse with operations in California, Nevada, Illinois and Florida, said the move would allow it to build a business outside marijuana. The new lifestyle brand and apparel line is expected to increase brand awareness and create an additional revenue stream.
"Our Lifestyles brand is a strategic step to grow Planet 13 into a household name, and the new company allows us to expand our exposure globally without being bound by restraints that are put on cannabis products in certain jurisdictions," Groesbeck explained. "This includes sponsoring athletes and lifestyle enthusiasts who use cannabis legally within the testing requirements of their respective professions and daily lives, especially dynamic stars like Chito Vera who have huge mainstream followings on their socials that reach beyond fight fans."
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Vera, who first debuted in the Ultimate Fighting Championship (UFC) in 2014, will be promoting Planet 13's apparel and brand on his social platforms and podcasts, along with media appearances, the company said in a press release. He’ll also be making appearances at events for Planet 13 in Nevada, California and beyond.
Planet 13 Fight Club will be a featured sponsor of Chito’s gym in Costa Mesa, California, a stone’s throw away from Planet 13 Orange County.
Planet 13 launched its FIGHT CLUB and hosted its first FIGHT WEEK in June, which coincided with UFC International Fight Week. This event included meet-and-greets with MMA stars and a UFC 303 watch party at the Dazed consumption lounge, marking the debut of Planet 13's e-commerce site for its MMA-inspired gear.
Chito is scheduled to fight live nationally on ABC TV at UFC Abu Dhabi on Saturday, Aug. 3, 2024. If he wins this fight against the Ecuadorian UFC star, this could lead to a title shot for Chito.
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