During his keynote conversation at Benzinga’s Cannabis Capital Conference, Verano Holdings CEO George Archos expressed his belief that the potential rescheduling of cannabis from Schedule I to Schedule III will be a pivotal moment for the industry. Archos foresees this change as a catalyst for significant advancements, stating, “Rescheduling will be the first real reform in a long time, and it’s going to be huge—not just in terms of removing 280E tax burdens, but as the first big domino to fall for further reforms like banking access.”
The discussion also touched upon the complexities of navigating diverse cannabis regulations across different states, a challenge Archos has firsthand experience with as Verano operates in 14 states. “We face different hurdles every day. The ability to adapt and pivot is crucial for success in this space,” he shared. Zuber Lawler Managing Partner Tom Zuber echoed Archos’ sentiments, suggesting that the confusing regulatory landscape can actually be an advantage for companies that can master its navigation. “The confusion in this fragmented regulatory landscape can actually be an opportunity,” said Zuber. “If you can navigate it better than others, you gain a competitive advantage.”
Archos also delved into the personal experiences that have shaped his leadership at Verano, revealing how cannabis has positively impacted his family, from an uncle suffering from multiple sclerosis to a cousin who found relief from nerve pain through its use. “That personal connection drives our mission every day. We’re not just here to sell products; we’re here to help people. We’ve seen firsthand how cannabis can improve lives—whether it’s helping someone move away from alcohol or manage chronic pain.” This deep connection to the wellness aspect of cannabis fuels Verano’s dedication to providing safe and consistent products to consumers. “Changing people’s lives for the better is what this is all about. The fact that we’ve created jobs, brought in taxes, and helped local communities is just an extension of that mission,” Archos stated.
Zuber explored how Archos’ background in hospitality influences Verano’s customer experience, particularly across its 150 retail stores. “We treat our customers like they’re going to a restaurant—getting to know their names, their preferences,” Archos explained. “Hospitality is part of our DNA, and it’s key to building long-term relationships with our customers.” This commitment to hospitality sets Verano apart in the cannabis industry, according to Zuber. “Your background in hospitality clearly gives Verano an edge in customer experience, which is critical in building long-term relationships.”
As the conversation shifted towards the future, Zuber inquired about Archos’ vision for Verano in five years, acknowledging the uncertainty surrounding federal cannabis reform. While acknowledging the dynamic nature of the industry, Archos expressed Verano’s readiness to adapt to any changes that emerge. “It all depends on what happens with federal reform. But the key is being ready for whatever comes—whether that’s crossing state lines or scaling our operations even further.” Archos emphasized Verano’s strategic focus on having the right personnel, maintaining a strong financial position, and cultivating a culture of adaptability. “We don’t know exactly what the next five years will look like, but we’re always preparing. If federal reform happens, we’ll be ready to scale, and if not, we’ll continue to adapt.” He even hinted at the possibility of exploring other industries, such as consumer packaged goods or alcohol, if the opportunity arises.
