When the decades-long prohibition of industrial hemp came to an end after the passing of the 2018 Farm Bill, many saw huge opportunities in this new industry. One of the people who wants to seize the opportunities in the hemp industry is celebrity designer Naeed Khan who plans to open a hemp design school in Miami, Florida.
The school which will make cutting-edge clothing from hemp will be opened in 2021. Before the facility opens its doors, Khan is already calling on the state and federal government to subsidize his planned business.
Naeed Khan, who is based in New York, is one of the most renowned fashion designers in the industry. He has designed clothing for Michelle Obama, Beyoncé, Taylor Swift and Jennifer Lopez.
So, why does this top designer want help from the government and yet he plans to put $36 million into his design school in Miami? Khan says that it will take long for hemp fabrics to become mainstream.
Before that happens, clothing made from hemp must compete with what is currently made from cotton. Most cotton clothing comes from China, and China heavily subsidizes the cotton value chain. Khan wants the government in Florida to subsidize his school too so that the hemp clothing he makes can also be competitively priced relative to cotton clothing.
Naeed Khan argues that hemp carries many advantages over cotton. For example, the plant requires less water to grow, sequesters lots of carbon and isn’t attacked by pests. Additionally, the fibers from the hemp plant are not only more versatile than those from cotton, but the clothing also lasts longer than cotton clothing.
Khan decided to locate his fashion school in Miami largely because Dade County offered him a free lease for the property on which he is building his design school. He also says, and rightly so, that the sunny climate of Florida is favorable to the cultivation of hemp. This means that his design school will have a sufficient supply of locally-grown hemp.
Nikki Fried, the Commissioner of Agriculture, is the main champion of the hemp industry in Florida. He is convinced that the industry in the state can grow to be worth at least $20 billion if the government plays its cards well. Hemp industry watchers believe that players like Geyser Brands Inc. (TSX.V: GYSR) and Golden Developing Solutions Inc. (OTC: DVLP) could be wishing that every state gets an investor like Naeed Khan so that the industry can really take off in a diversified way.
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