BioSteel’s new owner is crowdsourcing advice on how to proceed with the brand’s NHL partnership. Coachwood Capital founder Dan Crosby, who picked up BioSteel following Canopy Growth’s court-supervised sale last month, teased on LinkedIn this weekend that he would release a financial update on the brand’s performance as soon as today while also asking his followers for input on how the company should approach the sports drink’s premier league partnership. 🏒 BioSteel was named the Official Sports Drink of the National Hockey League (NHL) in 2022 – a fitting partnership for a brand that was originally created by hockey players. 🗣️ Feedback in the comments to Crosby’s post came from a number of CPG executives and athletes, and it varied in perspective from the negative (“[Y]ou have maximized that partnership to the point of diminishing returns”) to the optimistic (“I think young hockey players like imitating their favourite players so the visibility is a positive”). 💸 Le’Mae Reeves, a former logistics specialist at Canopy Growth, offered some inside perspective, noting that she was responsible for sending out and picking up beverages and merchandise at each NHL stadium. While she said players “loved” the drink, the deal was “not efficient” and excessive merch, such as tote bags, led to excessive shipping costs for the brand. |