Green Thumb Industries president Armen Yemenidjian brings local grown knowledge to dispensary plans
As a local kid who went to Loyola High School and the University of Southern California, Green Thumb Industries president Armen Yemenidjian knows that Culver City is a prime location for not only cannabis retail but business as a whole.
“The question is for locals in LA is ‘why wouldn’t you pick Culver City?’,” Yemenidjian says.
As a kid, Yemenidjian spent a great deal of time in Culver City with some of his good friends who lived there.
“I am very excited about what the city stands for and the opportunity that the city presented itself with.”
While the application to use the 12450 Washington Blvd. location is under the name ‘Essence,’ the dispensary will be owned by a much larger entity called Green Thumb Industries (GTI).
“Originally, when we had applied, it was another entity called Integral Associates that had applied,” Yemenidjian explained. Integral Associates was founded by Yemenidjian, his father Alex, and Brian Greenspun in 2014. “Subsequent to the application, we entered an agreement with GTI where GTI acquired Integral Associates.
GTI was also founded in 2014 and is a multi-state consumer product and retail operator focused on cannabis-related products. They are currently operating in 12 states with the main headquarters in Chicago. GTI currently has 27 stores nationwide, including Essence Las Vegas, the first dispensary to be opened on the Las Vegas Strip, and they hold 95 licenses for stores nationwide.
When it came to deciding where to establish their first storefront presence in California, Yemenidjian’s local roots certainly played a part in the location they chose.
“There are a tremendous number of municipalities in California that we didn’t apply in,” Yemenidijian admits.
While GTI was sure to be very careful in terms of where in California they would like to be, they understand the importance and urgency of establishing itself in one of the world’s largest economies.
“Being in California is paramount to any brand, retail or consumer products. Having retail in California in an amazing jurisdiction like Culver City really gives us an advantage.”
In terms of overall reach in California, this isn’t GTI’s first venture. GTI purchased downtown-LA based Beboe, a luxury cannabis brand, in February of this year, and quickly announced a new CBD based product for the brand soon after.
All of these acquisitions by GTI only further help them in fulfilling their mission here in California, providing a wide range of products for a wide range of people and needs.
“We are in the market of creating a consumer experience, and of creating a high-end experience,” Yemenidjian explains. “That doesn’t mean all of our products have to be expensive, and it doesn’t mean all of our products have to be inexpensive. I think the key is we offer great value in a great environment with great service and experience, and that is what I think we are going for.”
Another issue that many Culver City citizens are worried about with the current influx in new development is the parking that is provided with it. Yemenidjian and GTI understand this and made sure that was considered.
“As you know, in Culver City, we have a huge issue as it relates to parking, and we don’t believe in having valet at a dispensary,” Yemenidjian says. “It’s different when you go to a restaurant and valet your car for two hours, but at a cannabis dispensary, the transaction should take 5, 10, 15 minutes, and then you have to wait outside for your car again.”
To make sure this isn’t an issue at Essence Culver City, GTI has made sure it has 150% of the spaces that it would need under regulations.
“We have dedicated parking spots to ourselves, and in addition to having those spots, there are additional parking spots that aren’t dedicated to us that can be used by our customers in the same lot,” Yemendijian explains.
While establishing a base in California is pivotal for many cannabis companies. GTI isn’t so much focused on that as it is simply making this Culver City location the best that it can be.
“Right now, our plan is to make Culver City extremely proud of picking us, and proving to Culver City that we were the right choice through our actions, and we are very excited to do that.”
