CHICAGO, September 22, 2020–(BUSINESS WIRE)–Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced the approval and the location of its tenth Illinois dispensary in Naperville. The adult-use dispensary is located in one of the busiest shopping areas in Naperville, the 3rd largest city in Illinois with approximately 150,000 residents.
We have been consistent in choosing locations for our dispensaries in Illinois, focusing on high traffic areas in traditional retail environments. Sunnyside* Schaumburg, which is adjacent to Illinois’ busiest mall and our new Naperville dispensary, which shares a block with Costco, Walmart, and Starbucks, are great examples of this strategy.
Charlie Bachtell, Cresco Labs’ CEO and Co-founder
Our approach of meeting the consumer where they are and providing a normalized cannabis shopping experience is allowing our dispensaries in Illinois and all Sunnyside stores nationwide to outperform industry averages.
Upon final approval from the State of Illinois for the Naperville location, Cresco will operate the maximum allowed ten dispensaries in Illinois. Cresco’s dispensaries are located in some of Illinois’ biggest cities, busiest shopping areas and most strategic locations to introduce new customers to normalized and professionalized cannabis and take an outsized share of the Illinois market. Total Illinois cannabis retail sales were $95 million in August1 while total sales through the first eight months of 2020 were $600 million2 in the state.
About Sunnyside:
Sunnyside is where cannabis meets wellness. The store aims to educate today’s diverse users on the many positive benefits of cannabis and provides one of the widest ranges of cannabis brands showcased throughout stores by form and function. A more sophisticated and familiar shopping destination that combines high-end design from healthcare, retail and hospitality, Sunnyside elevates the value dispensaries can add to a community with a bright, welcoming aesthetic and convenient shopping whether in-store or online. Visit Sunnyside.shop to learn more.
About Cresco Labs:
Cresco Labs is one of the largest vertically-integrated multi-state cannabis operators in the United States. Cresco is built to become the most important company in the cannabis industry by combining the most strategic geographic footprint with one of the leading distribution platforms in North America. Employing a consumer-packaged goods (“CPG”) approach to cannabis, Cresco’s house of brands is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted national brands including Cresco, Remedi, High Supply, Reserve, Good News and Mindy’s Chef Led Artisanal Edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside, Cresco’s national dispensary brand, is a wellness-focused retailer designed to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco provides the industry’s first national comprehensive Social Equity and Educational Development (SEED) program designed to ensure that all members of society have the skills, knowledge and opportunity to work in and own businesses in the cannabis industry. Learn more about Cresco Labs at www.crescolabs.com.
¹https://www.idfpr.com/Forms/AUC/2020%2009%2015%20IDFPR%20monthly%20adult%20use%20cannabis%20sales.pdf
²https://www2.illinois.gov/sites/mcpp/Pages/update09032020_mcpp.aspx
