In a recent episode of Branding Like a Boss, host Angela Pih sat down with Paul Yau, co-founder and CEO of The Travel Agency, a multi-store cannabis retail chain making waves in New York State. With a background spanning finance, investments, and entrepreneurship, Yau’s entrance into the cannabis industry marks a significant shift—driven by opportunity, purpose, and a vision for transformation.
A Name Rooted in Purpose and Progress
The Travel Agency’s evocative name isn’t just about travel; it symbolizes transformation and opportunity. Collaborating with creative director Jessica Schriftman and the Fortnite Collective, Yau emphasized that the name pays homage to the New York Cannabis Social Equity Program, which aims to create generational wealth for communities disproportionately impacted by the war on drugs. It also recognizes the nonprofit Doe Fund, which works with formerly incarcerated men, many of whom are Black and brown, fostering their reintegration into society.
Entering Cannabis at a Pivotal Moment
Yau’s journey into cannabis began in Massachusetts, where he observed the industry’s nascent demand. When New York legalized recreational cannabis, he saw a unique opportunity to build from the ground up at the grassroots level, especially in New York City—a market with immense potential. “It’s like writing history every day,” he remarked, comparing the industry’s early days to post-prohibition liquor markets.
From Finance to Flower: A Strategic Shift
Prior to cannabis, Yau’s career spanned private equity, venture capital, and health and wellness startups. His exposure to cannabis investments through venture firms and Arcview laid the groundwork for his entrepreneurial leap. Recognizing the market’s demand and the industry’s evolving landscape, he decided to launch The Travel Agency, aiming to stand out through curated, high-end retail experiences.
Differentiation Through Design and Customer Experience
The company’s retail locations are strategically situated in high-traffic, iconic neighborhoods—Union Square, Downtown Brooklyn, Fifth Avenue, and Soho—each designed to evoke the sensation of travel. Partnering with renowned architectural firm Lyon Lyon, the stores feature sleek, modern aesthetics inspired by airports, space themes, and European subway stations, elevating the retail experience beyond typical dispensaries.
Inside, the stores offer curated product assortments—around 400 SKUs tailored to neighborhood demographics—and a focus on exceptional customer service. The staff, comprising over 200 well-trained budtenders, are central to the immersive experience, blending education with personalized recommendations. “Retail is all about the minutiae,” Yau emphasized, highlighting the importance of detail in creating memorable customer interactions.
Balancing Regulation and Innovation
Operating within New York’s highly regulated environment presents challenges, especially around sampling and marketing. The Travel Agency works with third-party regulatory experts to navigate the evolving legal landscape, ensuring compliance while striving to normalize cannabis consumption. For example, they’ve hosted events like infused high teas to introduce consumers to consumption in engaging, educational settings—aiming to shift perceptions and foster comfort.
Marketing and Brand Partnerships
The company employs a mix of owned, earned, and paid media, focusing on community engagement, event sponsorships, and strategic partnerships. Notable collaborations include participation in New York Fashion Week and partnerships with brands like Telfar, leveraging these platforms to elevate the brand’s profile and align with New York’s cultural scene.
Yau stressed that in cannabis, consumer pull-through is vital. Building loyalty through education and authentic experiences is more sustainable than fleeting marketing pushes. He also highlighted the importance of brand advocacy among budtenders, who are trained extensively to recommend products honestly and passionately.
Leadership Philosophy and Future Outlook
Yau’s leadership style champions a “Yes, within bounds” mentality—encouraging innovation while maintaining responsibility. He values hustle and ambition, qualities he sees in the industry’s workforce, and recognizes the importance of cultivating a positive environment for employees, many of whom see cannabis as a passion.
Looking ahead, the focus remains on expanding customer engagement, refining product offerings, and navigating regulatory changes. The company is also exploring opportunities to create consumption spaces that comply with laws and enhance the customer journey, further normalizing cannabis as part of everyday life.
A Vision for Transformation and Normalization
As the industry matures, Yau remains optimistic about cannabis’s normalization. He draws inspiration from brands like Sephora and Whole Foods, emphasizing the importance of sensory experiences, curated discovery, and continuous innovation. His analogy of the industry’s evolution as a series of “quarters” underscores the ongoing, dynamic development of cannabis retail.
In closing, Yau shared a fun insight—his “superhero alter ego” for cannabis is inspired by Bruce Banner and the Hulk, symbolizing the energizing power of certain strains to supercharge productivity and drive. For those eager to experience the journey firsthand, he invites visitors to explore The Travel Agency’s locations and discover a new world of cannabis retail.
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