1-800-Flowers CEO Jim McCann believes the growing legalized pot industry could make it harder to find domestic flower growers for his business.
McCann believes that some petal growers may convert their crops to marijuana in an attempt to chase bigger profits.
“We have been pushing for domestic production of flowers hard for the last 10 years and having real good success,” McCann told the FOX Business Network’s Maria Bartiromo.
He admits that many growers are starting to closely examine marijuana profits and comparing them to their current crops.
“There are a few states now, I haven’t seen it impact us yet, but we are concerned because some growers with enormous greenhouse facilities in California or Colorado or perhaps in Oregon are saying, ‘Is this the best crop I can grow, these flowers for all these florists around the country? Maybe I can switch to cannabis and get 10 times on the revenue line.’ That’s a big concern of ours,” he told Fox Business.
McCann is most worried that the best and legal areas for growing petals are the same areas used for growing the best post.
“The only places that we know of are legal states, so that’s where we’re seeing it but they also happen to be our best flower producing states.”
McCann admits that the legalization of marijuana could hurt his company’s rose production, but also says he is working with flower producers to determine their domestic production for the future.