Alex Pasternack is, well, sincere. As a journalist and editor, I’ve written about products across hundreds of categories, and every now and then I’ll come across that kind of business leader who, calmly, transcends you into their way of thinking, to the point where you hear yourself say, “Oh yeah. Why was that not obvious until just now?”
Let me explain. Alex Pasternack modestly clarifies that he came from nine years in medical sales and followed his brother, Jake (who is two and a half years older), into the cannabis business. “In 2017 Jake was coming out the film and entertainment industry and wanted to invest in cannabis. I was moving to Venice Beach in California”, says Alex.
Jake saw a space for hands-on, locally farmed, and pure product in the cannabis sector, a void, he says, that was left open by the big brands churning out any old product to attract new customers, freshly arrived from the legalization of cannabis, spottily.
Both brothers had been diagnosed with ADHD at young ages, and both had negative experiences with prescription drugs. Their shared challenges in their youth encouraged them down the path of how to elevate wellness, and not just ‘sell’ cannabis-based products. With their dad, an attorney, guiding the Binske company through the minefield of legislation that is the cannabis industry, Jake and Alex set out to mold a better way of producing, and consuming cannabis, and for more noble reasons than just making money.
Today Binske creates a portfolio for discerning premium cannabis consumers, you know the sommelier types. Cannabis connoisseurs, if you like. The company has 21 full-time employees, and has four licensing deals. What kind of licensing deals, you ask? Binske has licensing deals in Colorado, Nevada, Florida, and, now, California. For those of you who’ve been following the industry, you’ll realize immediately that operating in multiple states is a feat in itself. You see, you can’t just ship cannabis product across state lines, so it must be made in the state in which it’s being sold. Moreover, the ingredients must also come from (in this case “be grown”) in the state in which it’s made, and in which it’s being sold.
So what Binske has done is copper-fastened a premium process, a lofty standard of ingredients, a straight line to the company’s privately formulated genetics, and has even created the high standards to which it adheres. Companies can license this entire process, and produce Binske’s products in each state according to the specific rules, and they’re lining up to do it. No Mickey Mouse characters either. Some of these are publicly traded entities. Binske’s motto is “The highest standards didn’t exist, so we created them.” This is not a new model for, say, the food industry but it certainly is for the cannabis category.
So, that’s the boring business stuff over, but please note how relevant this is. For consumers it means that if you enjoy Binske’s flower products in Colorado, you can enjoy the same products while you’re traveling in Florida, directly tapping into brand loyalty. It’s the first step in empowering consumers to be motivated in their purchasing decisions by their own knowledge of a brand, and takes out a lot of the guesswork. No matter where you buy Binske, you’re getting the same product experience.
For consumers who have tried Binske’s products, Alex says, “They’re often cannabis connoisseurs and are well versed in premium products versus mainstream brands. They appreciate the taste and aroma, and they connect with Binske on a creative, wellness or medicinal level depending on their needs and the product itself.”
It seems to this writer that Binske has brought flavor (expression), outstanding quality, artisanal ingredients (which contribute to a better experience and also a better recovery), stunning packaging and locked-in genetics and, as Alex, says “wrapped it all up in a bow”.