Key Results
- Successfully placed the VP of Marketing, a pivotal role for Glass House Brands.
Immediate Impact
- The strategic placement enabled Glass House Brands to significantly strengthen their marketing efforts and drive growth.
Building a Strategic Partnership
What did we do to partner with the client?
When Glass House Brands approached us, they were in a pivotal stage of growth. They needed a VP of Marketing who could not only manage their current marketing strategies but also innovate and lead the brand into new territories. The Protis Team spearheaded the search, diving deep into the company’s culture and goals to find the perfect match.
Our team meticulously crafted a slate of candidates who embodied the qualities Glass House was looking for. We focused on individuals with a proven track record in the cannabis industry, as well as those who could operate within the constraints of a startup environment. This meant understanding the nuances of marketing within a regulated industry, and the importance of agility and creativity in a fast-paced market.
Navigating Challenges and Advising
How did we advise the client?
Understanding that Glass House Brands had specific compensation limits due to their startup status, we advised them on how to attract top talent within these constraints. We highlighted the long-term growth potential of the company and its innovative approach to the cannabis market, which could appeal to visionary marketing leaders.
We also provided insights into the competitive landscape, helping Glass House understand what top candidates were looking for in terms of career development and company culture. This collaborative approach ensured that they were prepared to offer a compelling package that went beyond just financial compensation.
What work did we do for them? Give specifics.
Our work included in-depth market research and candidate outreach, focusing on those who could bring both strategic vision and hands-on execution skills to the table. We engaged with potential candidates, discussing not just the role, but the exciting journey Glass House Brands was on, thus attracting individuals who were passionate about making a significant impact.
We organized several rounds of interviews, where we facilitated discussions between the candidates and Glass House’s leadership team. This process helped in aligning expectations and ensuring that the selected candidate would seamlessly integrate into the company’s culture and objectives.
How were we exceptional partners?
We went beyond the usual recruitment process by immersing ourselves in Glass House’s day-to-day operations. Visiting their offices and engaging with their team allowed us to speak authentically about the company’s culture and vision. This deep involvement was instrumental in convincing top-tier candidates to join a growing and dynamic team.
Delivering Strategic Solutions
What were the results of our work?
Through our diligent efforts, we successfully placed a highly qualified VP of Marketing. This individual brought a wealth of experience and a fresh perspective that has already begun to pay dividends for Glass House Brands.
How has the client grown?
- Since the placement, Glass House Brands has seen substantial growth. Their 2023 revenue soared to $160.8M, marking an 89% increase year over year.
- In Q4 alone, they achieved $40.4M in revenue, up 35% from the previous quarter.
- Their Q4 adjusted EBITDA reached $3.8M, reflecting robust financial health.
- The company’s operating cash flow in 2023 was $23.2 million, demonstrating efficient operational management.
- With a cash balance of $32.5 million, up 130% from 2022, they are well-positioned for future expansions.
- Impressively, their stock has surged by 188% in the past year, becoming the top-performing share in the cannabis industry.
How has the client reached their business objectives?
By securing a talented VP of Marketing, Glass House Brands has been able to internalize their marketing efforts, reduce reliance on external agencies, and implement a more cohesive brand strategy. This has not only saved costs but also allowed for greater control and agility in their marketing campaigns. The company’s focus on maximizing the effectiveness of their brand, leveraging artist partnerships, and utilizing proprietary technology to enhance their products has set them on a path of continued success and innovation in the cannabis market.