Former heavyweight champion Mike Tyson has made a name for himself not only in the boxing ring but also in the cannabis industry. With his cannabis brand, Tyson 2.0, and a range of unique products, Tyson is revolutionizing the market and changing perceptions around cannabis. In a recent interview with Forbes, Tyson shared his journey and his vision for the future.
Tyson 2.0, based in Las Vegas, offers a wide range of cannabis products, including flower, vapes, and edibles. One of the standout products is an edible in the shape of Evander Holyfield’s ear, a playful nod to the infamous incident in their 1997 match. Despite initial hesitation, Tyson’s wife, Kiki, came up with the idea, and it has become a hit among consumers. In fact, Tyson 2.0 is the best-selling celebrity-backed brand in the cannabis industry, according to cannabis data firm Headset.
The success of Tyson 2.0 is not just limited to the United States. The brand is expanding globally, with plans to enter every country on the planet. Through licensing deals with franchisees, Tyson 2.0 has established a presence in 20 states across the U.S., as well as in Amsterdam, Barcelona, and Thailand. The company is also poised to enter Germany’s newly legalized adult-use market and the U.K.’s medical marijuana industry.
Tyson’s passion for cannabis stems from his own personal experiences. He has been using cannabis since his childhood in Brownsville, Brooklyn, where he grew up in a challenging environment. Cannabis became a way for him to cope with the hardships he faced. Today, Tyson sees himself as a face of the cannabis industry, even though he admits he can’t spell the word “cannabis” or “psychedelics.”
The journey to success hasn’t been without its challenges. Tyson has faced legal troubles, including a conviction for rape in 1992 and struggles with addiction. However, he has managed to turn his life around and channel his energy into building a successful cannabis brand. Tyson’s resilience and determination have been key in his transformation from boxing hero to cannabis mogul.
Tyson 2.0 operates on a licensing model, partnering with franchisees who grow, manufacture, and sell the brand’s cannabis products. In 2023, the brand generated an estimated $150 million in revenue, with cannabis sales accounting for about 30% of the total. The rest of the revenue comes from accessories, CBD products, nicotine vaporizers, and other offerings.
Looking ahead, Tyson envisions a bright future for Tyson 2.0 and the cannabis industry as a whole. With the growing acceptance and legalization of cannabis worldwide, Tyson aims to continue expanding his brand and making a positive impact in the industry.
In conclusion, Mike Tyson’s venture into the cannabis industry with Tyson 2.0 has been a remarkable journey. From his humble beginnings in Brooklyn to becoming a boxing legend and now a cannabis mogul, Tyson has overcome challenges and embraced new opportunities. With his unique products and global expansion plans, Tyson is shaping the future of the cannabis industry and challenging stereotypes along the way.
