Mario Naric, the visionary CEO and founder of Motif Labs, recently offered insights into the company’s ambitious trajectory during an exclusive interview at the esteemed Benzinga Cannabis Capital Conference. Steering Canada’s largest private cannabis firm, Naric articulated the dual objectives underpinning Motif Labs’ participation in the event: amplifying the brand’s visibility and gaining invaluable insights into the dynamic landscape of the U.S. cannabis market. “We’re quite a big operator in Canada, and we’re pretty under the radar because we’re a private business. So just spreading the word about Motif, and what we do is one objective,” Naric elucidated, highlighting the strategic importance of bolstering Motif Labs’ brand presence.
In addition to elevating brand visibility, Naric underscored the pivotal role of learning from the U.S. market, often a harbinger of trends in Canada. “It’s like looking into the future sometimes when you come down here,” Naric remarked, underlining the potential for innovative U.S. trends to inform strategic market approaches in Canada.
Dispelling common misconceptions about the Canadian cannabis market, Naric shed light on its burgeoning potential for sustainable market success. “Canada is becoming a very viable market. And it’s one that you can succeed in,” he affirmed, emphasizing the myriad opportunities for growth and prosperity within the Canadian cannabis landscape.
Looking ahead to the year 2024, Naric unveiled Motif Labs’ strategic blueprint, with a strong emphasis on product innovation and market expansion. “We’re an extraction-based business… We’re doing 2.0 products, we’re a brand house as well,” he disclosed. Naric spotlighted the recent introduction of liquid diamonds as part of their concerted efforts to delve into niche extracts and bolster their foothold in the infused pre-roll segment.
With an already impressive portfolio featuring leading brands like BOXHOT and Rizzlers, Motif Labs is poised to further amplify its market presence. “We have five different brands in the market. BOXHOT is our number one brand… we have close to 10% of the infused pre-roll market share,” Naric revealed, underscoring Motif Labs’ position as a dominant player in the industry.
Addressing the evolving needs of the market, Naric emphasized the importance of catering to younger demographics, particularly Generation Z consumers. Recognizing their unique perspectives on cannabis, Naric underscored the necessity of tailoring products and marketing strategies to resonate with this demographic, which has grown up in an era where cannabis is legal and viewed through a different lens than previous generations.
As the cannabis industry braces for potential rescheduling, Motif Labs remains at the forefront of innovation, poised to capitalize on emerging opportunities and shape the future landscape of the industry. With a steadfast commitment to excellence and a keen focus on meeting evolving consumer demands, Motif Labs continues to chart an unparalleled path to success in the dynamic cannabis market landscape.