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Adam Bierman
OccupationBusinessman
Known for
  • former CEO of MedMen
Websitetheadambierman.com

Adam Bierman is an American entrepreneur and former CEO of MedMen,[1] a cannabis company based in the United States.[2][3]

Early life and education

Bierman was born in Scottsdale, Arizona and raised in Los Angeles, California. He attended the University of Southern California (USC), where he pursued a degree in business administration and entrepreneurship,[4] then Los Angeles City College to pursue baseball more seriously.[5]

Career

Bierman co-founded MedMen in 2010 alongside Andrew Modlin.[6] The company began as a medical cannabis dispensary in Los Angeles and expanded its operations as cannabis legislation progressed.[7] Bierman was instrumental in guiding MedMen's growth, leading it to become a vertically integrated cannabis company with cultivation, manufacturing, and retail operations.[8]

During his tenure as CEO, MedMen gained recognition for its upscale retail locations and branding, which aimed to destigmatize cannabis and attract a broader customer base.[9] The company offered a range of cannabis products, including flowers, edibles, concentrates, and accessories.[10]

Bierman focused on positioning MedMen as a mainstream cannabis brand, forging strategic partnerships, implementing marketing campaigns, and collaborating with other notable brands.[11] The MedMen x Beboe partnership aimed to create luxury cannabis products.[12][13]

In 2018, MedMen signed a deal to acquire PharmaCann for $682 million.[14][15]

However, MedMen faced financial challenges and reported significant losses during Bierman's leadership,[16][17] partly due to rapid expansion and costly retail leases.[18] In 2020, Bierman stepped down as CEO amidst ongoing financial struggles and a changing cannabis market.[19][20]

Personal life

Bierman is married and has children.[21][22] He is known for his entrepreneurial drive and his dedication to the cannabis industry. Bierman has been an advocate for cannabis legalization and has supported initiatives promoting social equity within the industry.[21]

References

  1. ^ Berke, Jeremy. "MedMen once promised to be the Apple of cannabis. Ten years later, its former CEO dishes on how it all went wrong". Business Insider. Retrieved 2024-01-23.
  2. ^ "MedMen Cannabis Dispensaries and Delivery Service". medmen.com. Retrieved 2024-01-23.
  3. ^ Mohan, Pavithra. "With Or Without Cuomo, MedMen Is Blazing A Trail For Legal Weed In New York". Fast Company.
  4. ^ "Lavish Parties, Greedy Pols and Panic Rooms: How the 'Apple of Pot' Collapsed". POLITICO. 2020-05-24. Retrieved 2024-01-23.
  5. ^ "The Business of Pot". TIME. 2015-04-09. Retrieved 2024-01-23.
  6. ^ Amore, Samson (2020-01-31). "MedMen CEO Bierman Steps Down". Los Angeles Business Journal. Retrieved 2024-01-23.
  7. ^ "This Santa Ana dispensary wants to change the way you buy pot". Orange County Register. 2017-06-30. Retrieved 2024-01-23.
  8. ^ Koren, James Rufus (2018-08-29). "Former L.A. Mayor Villaraigosa joins board of local cannabis firm MedMen". Los Angeles Times. Retrieved 2024-01-23.
  9. ^ Coskuner-Balli, Gökçen; Pehlivan, Ekin; Üçok Hughes, Mine (2021-12-11). "Institutional Work and Brand Strategy in the Contested Cannabis Market". Journal of Macromarketing. 41 (4): 663–674. doi:10.1177/02761467211029243. ISSN 0276-1467.
  10. ^ "The Most Successful Dispensary: Ranking the Top Performer in the Industry". StrawPoll. Retrieved 2024-01-23.
  11. ^ Clement, Nick (2017-04-12). "Cannabis Industry Attracts More Mainstream Investors as Business Grows". Variety. Retrieved 2024-01-23.
  12. ^ Moore, Booth (2019-02-14). "Cannabis Couture: MedMen Unveils Apparel Line". WWD. Retrieved 2024-01-23.
  13. ^ Shapiro, Katie (2019-07-02). "Cannabis! The ultimate guide to luxe products and services". Orange County Register. Retrieved 2024-01-23.
  14. ^ Narayan, Shwanika (2018-10-11). "MedMen to Acquire PharmaCann for $682 Million". Los Angeles Business Journal. Retrieved 2024-01-23.
  15. ^ Wood, Sam (2018-10-16). "World's biggest cannabis deal, MedMen's merger with PharmaCann, brokered in Philly". Inquirer.com. Retrieved 2024-01-23.
  16. ^ "Cannabis chain once worth $1.7 billion and called the 'Apple store of weed' is now nearly failing". Fortune. Retrieved 2024-01-23.
  17. ^ Peltz, James F. (2019-02-24). "Fast-growing pot seller MedMen faces lawsuit by former insider". Los Angeles Times. Retrieved 2024-01-23.
  18. ^ Rodrick, Stephen (2019-04-16). "Rise of Big Weed: MedMen's Growing Pains". Rolling Stone. Retrieved 2024-01-23.
  19. ^ Wallace, Alicia (2020-01-31). "CEO of cannabis retailer MedMen steps down | CNN Business". CNN. Retrieved 2024-01-23.
  20. ^ Berke, Jeremy. "The CEO of embattled cannabis company MedMen is stepping down on February 1". Business Insider. Retrieved 2024-01-23.
  21. ^ a b Albo, Mike; Duarte, Amanda (2019-01-14). "A Guide to the New Pot Elite, From Budding Industry Barons to the Style Rules to Follow". Town & Country. Retrieved 2024-01-23.
  22. ^ Adams, Dan; Gans, Felicia. "CEO of marijuana conglomerate, set to open Fenway shop, is defiant amid allegations – The Boston Globe". BostonGlobe.com. Retrieved 2024-01-23.
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