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As the co-founder and CEO of Carma HoldCo, Wilks is making big moves with a global brand house that harnesses the power of cultural icons to shake up various industries. Carma HoldCo is all about creating unique experiences and products that resonate with consumers, enhancing their lives and inspiring them. Under Wilks's leadership, the company has built an impressive roster of talent, including legends like Tyson, Ric Flair, and Future. Wilks also serves on the boards of Old Pal, Bluma Wellness, and Sacred CBD. For the past five years, he’s made waves at Serruya Private Equity, focusing on cannabis-related investments and managing due diligence for retail operations, cultivation, manufacturing, and distribution.
Hip-Hop Culture and Dope Demographics
In the cannabis industry, every decision has to be calculated and intentional. Consumer demographics are shifting, with greater usage among baby boomers, for example. According to Wilks, several factors have contributed to the success of the trio of celebrity brands. "The older demographics are a huge part of sales for the Tyson and Flair brands. For Ric, you have to realize that there are wrestling fans everywhere. Everyone knows Ric. Even the younger generation knows him because of his daughter, Charlotte Flair, who's also a professional wrestler," Wilks explained.
Flair's celebrity has parlayed into something even bigger within the hip-hop space. His flashy demeanor and bravado have earned him a spot at the proverbial cookout. "It’s pretty phenomenal to see just how entrenched Ric is in the hip-hop space, and that truly broadens the base for his brand," Wilks shared.
When Wilks' team built the Tyson 2.0 brand, it was designed to appeal to everyone. Similar to Flair, who's a legend and an icon in wrestling and beyond, Tyson’s brand carries a different vibe. "Mike Tyson is one of the world’s most well-known people. Watching his meet-and-greets is pretty impressive. His following is diverse, and the brand itself resonates with people from all walks of life," Wilks noted.
Famous but Not Fake
According to Wilks, if you’re not genuine about the product, consumers will know, and that will translate into sales—or lack thereof. There are thousands of cannabis products on the market, and Wilks emphasizes that for companies looking to partner with celebrities, authenticity is paramount. The talent’s lifestyle and connection to the plant must come before anything else. "Ric, for example, had been addicted to prescription medication for years. I got him off Xanax after introducing him to marijuana to help him relax," Wilks shared. Tyson isn’t shy about his cannabis consumption either, and his authenticity helps differentiate the brand and resonates with consumers. Wilks stresses that potential customers can sense when celebrities are merely trying to cash in.
Quality Over Hype
"If the quality isn’t there, you’re not going to get consumers. We wouldn’t sell anything we wouldn’t want to use ourselves," Wilks stated. Since marijuana must be sold in the state where it's manufactured, Wilks ensures that the strains and growers are of the highest quality and match the brand’s energy. "Take Future, for example. He likes to smoke the product before it goes to market, and he’s a true connoisseur, favoring super-premium flower with higher THC. Ric, on the other hand, may prefer cannabis with slightly lower THC than Future, but it's still top-notch. You have to match the quality and authenticity of the talent for consumers to buy into it," he explained.
Choosing Talent Wisely
Brands need willing ambassadors who are invested in seeing the products thrive and grow. Celebrity brands require effort on behalf of the talent. Wilks cautions companies looking to partner with celebrities to ensure it’s a mutually beneficial match and that the celebrities are 100% committed to building the brand with their authentic selves.
"When choosing your talent, they have to participate and be involved. They need to be there when you need them, and if they aren’t available, then it isn’t going to work," Wilks said.
As the cannabis industry evolves, educating consumers about the misconceptions surrounding cannabis remains a key goal. Wilks suggests that celebrities behind cannabis brands use their platforms to share accurate information about cannabis' benefits, safe usage, and the science behind their products. "There are other factors like regulations or compliance… but ultimately, your talent also has to be part of the education process and promote the responsible use of cannabis," Wilks added.
Innovation and Diversity
Wilks understands the importance of getting people into stores and the challenges of marketing and advertising. All brands and cannabis companies are finding unique ways to invest in social equity that align with their missions and assets. With Tyson 2.0 hitting Illinois shelves, Wilks is well aware of the champ's star power and what his presence can do for small, diverse businesses across the state. "We plan on bringing Mike back to Illinois to meet with consumers and be part of the community. We’re excited for several activations we have planned, with and without Mike, to share our partnership and premium products with Verano," he said.
Dr. Mila Marshall is an environmental professional and journalist with a passion for advancing sustainability in all sectors. Her passion is directed towards urban food systems in segregated cities.