Meet Christine Smith, Former Architect Turned Top Cannabis Edibles CEO

When Christine Smith began making and packaging chocolate cannabis edibles, it was only a hobby as she was a architect in Oregon. But with the state then being on the cusp of legalizing adult-use cannabis, Smith sought a creative outlet, one that mined her love of food. Little did she know that her basement tinkerings would lead to a career that would establish her company Grön as one of the largest and most recognized edible makers in the Northwest.

However, it hasn’t been smooth sailing for Grön, which was founded by Smith in 2015, the year Oregon legalized adult-use. Like other cannabis businesses, Smith has had to deal with the banking ban. This was a headache, for sure, but one she was able to alleviate early on. Right now, she said her company, a multistate operator, works with three banks and a credit union.

Another obstacle she struggled with when she began was the industry’s lack of regulation and policy. As an architect used to dealing with compliance issues, Smith found this especially frustrating. “[It] was challenging to navigate the grey areas,” she conceded. “It still is, but we’ve gotten better.”

Then there’s the current state of the industry, which has been in a slump since last year thanks to inflation and ebbing post-pandemic demand. Though Smith has prided herself on leading a self-funded company, avoiding outside investments, even her company is not immune to the financial gyrations rocking the sector. For the first time since Grön’s inception, she is seriously exploring the idea of securing capital from investors.

“Quite honestly, we haven’t needed it over the years,” she explained. “We were focused on our internal growth and our team so we didn’t need the money and didn’t take it.”

Since then, the company has expanded to a number of states that include Nevada, Arizona and Oklahoma. “There’s a small window to come in to be able to dominate market share in those markets,” added Smith, who has a degree in architectural design from the University of Texas at Austin. “In order for us to accelerate growth, we will need outside capital to make that happen.”

Asked for her thoughts on the health of the industry versus when she launched Grön, Smith is optimistic, at least, for her company.

“We doubled our revenue from 2021,” she continued. “We’ve grown in every market we’re in. I think there’s a lot of opportunity. Part of our success that allows us to grow is that we’ve created new product lines that attract different consumers.”

Her enthusiasm waned when pressed to give an industry forecast.

“We are going to see companies fold or being acquired,” she predicted. “I do think it’s a challenging time to be a grower. I think we’re lucky that we’re in a category that’s protected by CBD and margins being stable.”

She also doesn’t think that the SAFE Banking Act, a measure that would allow banks to work with legal cannabis businesses without prosecution, will pass this year. And if she had to do some crystal ball-gazing, she doesn’t foresee federal legalization happening until 2025 or 2026.

“What we will see is decriminalization and some sort of deregulation,” Smith speculated. “But I don’t think we’re going to see a blanket pass by the feds—I think it’ll piece in slowly.”

As a female CEO of a successful cannabis business, Smith can be seen by many as both a trailblazer and role model for other women in a male-dominated industry. Her advice to other women seeking to gain a foothold in the business is a mix of unfiltered honesty and sage wisdom grounded in experience.

“Find something you really love and are truly passionate about,” she urged. “Without that, especially in this industry, it’s difficult to make a go of it. If I was trying to get into this industry right now, I don’t know if I would be able to do it. It takes more money now. I entered with $50,000 and I was able to make mistakes. It’s not like that anymore. Find somewhere there’s a hole in the market.”