Stem Holdings, Inc. d/b/a Driven By Stem, (OTCQX: STMH) (CSE: STEM) (the “Company” or “Stem“), the first multi-state, vertically integrated Farm-to-Home™ (F2H) cultivation and technology omnichannel cannabis company featuring a proprietary Delivery-as-a-Service (DaaS) marketplace platform, today announced the official launch of its cannabis e-commerce and delivery platform in Oregon under its Budee™ proprietary brand. Consumers can order on www.shopbudee.com, or http://www.visittjs.com, Stem’s dispensary platform, for the full product line-up and, where available, express delivery in 60 minutes or less.
Budee will operate across Greater Metro Portland, offering a broad range of best-selling products, available through reliable, same-day and scheduled next-day delivery service. Additionally, Budee is anchored by Stem’s local TJ’s on Powell dispensary, recognized for its curated products including flower, pre-roll, concentrates and edibles, as well as non-cannabis gear. Beyond the Portland market, Budee will roll out across the remainder of the state over the next year, starting with the city of Eugene in October.
Budee currently operates in California, where it can service over 92% of the state’s population, and Oregon represents its first expansion market. The demand for cannabis products in Oregon experienced a significant acceleration in 2020 due to the COVID-19 pandemic with sales in the state eclipsing the $1 billion milestone. Additional new expansion markets, including Michigan, are planned for this year, with the anticipated opening of Stem’s newest dispensary in Kalamazoo in early September.
“Budee offers a unique customer solution in cannabis delivery,” stated Adam Berk, Chief Executive Officer of Stem. “Our team has leveraged our expertise in delivery solutions to execute our Farm-to-Home strategy. From our cultivation and extraction labs, our commercial kitchen, and our wholesale and retail operations, we now connect market-leading cannabis brands with our own branded products direct-to-consumer. We aim to provide a consistent and personalized experience comparable to visiting a dispensary, but with the convenience and privacy of a best-in-class delivery service.”
stemMr. Berk continued, “The explosive growth of e-commerce during the COVID-19 pandemic has had a lasting impact on customer demand for delivery services, and the cannabis industry is no exception, with the delivery sub-market expected to be the highest and fastest growing stream in the market1. Including Budee in our operating model allows for deep integration of our unique e-commerce and logistics capabilities, which has significantly enhanced our sales through deliveries in California, further signifying an opportunity for similar growth in new markets. Following the successful soft launch earlier this year, we are pleased to move forward with a gradual expansion of the platform in Oregon, which is the country’s fourth largest legal cannabis market. We are thrilled with the accessibility to increased market share Budee provides, ultimately allowing us to reach customers across the state.”
