Former pro boxer Mike Tyson is bringing his wildly popular cannabis brand in the form of Knockout OG and Pound for Pound Cake to Michigan.
What Happened: Tyson 2.0 will launch at cannabis dispensaries through a cultivation partnership with Michigan's Common Citizen, which has a greenhouse on the west side of the state as well as several retail shops.
Chad Bronstein, chairman of Tyson 2.0, said the products coming to Michigan were so popular that they sold out when they were launched in other states, including California, Colorado, Nevada and Massachusetts. In the case of Massachusetts, the cannabis flower sold out in an hour, he said.
Why It's Important: People have come to admire Tyson's openness about how cannabis has helped him deal with many issues during and after his boxing career.
"This is challenging," Tyson said in an interview about starting a cannabis company. "I'm looking forward to riding it to my highest potential."
Tyson, who says he tests all of his products himself, has a way with his fans, now as a businessman as he did as a boxer.
"When fans come up to him, he's always like, 'I'm the people's champion. It's my job to talk to everybody.'" Bronstein said. "He has the same philosophy in his day-to-day as the people's champion that he has brought to this company."
Bronstein added that Tyson is excited about bringing the products to Michigan, which is one of the fastest-growing cannabis markets in the country.
"You see a lot of new stores coming up," Bronstein said. "It's very scalable and the market is innovative and growing. That's why we chose to make sure we had a big footprint there."
What's Next: Bronstein told the Detroit Free Press that there also will be partnerships with other brands and pointed to PepsiCo (NASDAQ: PEP)'s launch of a hemp seed-infused Rockstar Energy drink as an example of what Tyson 2.0 might expand to.
Bronstein said he and Tyson will be in Michigan sometime this month to promote the cannabis line.
