Ontario’s New Wave of Cannabis Stores
Province Sees Surge of Cannabis Retailers as Replies Grow to 800 – LPC
Ontario’s new wave of cannabis stores are started to crest after the Alcohol and Gaming Commission of Ontario (AGCO) got rid of its cannabis retail store lottery system. Several stores have opened recently or announced plans to open.
In London, Friendly Stranger opened near Western University. It is the fourth cannabis store to open in the city. Technically, it’s not even part of Ontario’s new wave of cannabis stores. This location was the last of the first 25 licences awarded to open up.
“It’s a great population density,” said James Jesty, president of Toronto-based Friendly Stranger.
And great demographic, according to others. London is now third in terms of number of cannabis stores behind Toronto and Ottawa. But its numbers could double by summer. Mihi Cannabis announced it is applying for four licences in London alone. Although there aren’t any guarantees, it’s a sign of the times.
“We truly believe London is going to be one of our key clusters,” said a Mihi Cannabis VP Steffen Schenk. “It has a very large university population and it’s a great sized city.”
Ontario’s New Wave of Cannabis Stores Spreading Outward, Too – LPC
Ontario’s new wave of cannabis stores is finally hitting the shores of long-ignored Northwestern Ontario as well. Tokyo Smoke opened its first store in Thunder Bay on March 2.
“We know this is an underserved market,” said Melissa Gallagher, director of franchising. “It is the first legal recreational cannabis shop for miles and miles.” In fact, Thunder Bay is 1,000 kilometres northwest of Sudbury; Winnipeg, Manitoba is closer.
Another store will open soon in Sault Ste. Marie, which sits between the two cities along the Trans-Canada Highway.
Ontario’s new wave of cannabis stores includes other locations in southern Ontario as well including Bradford, Kitchener, and Ottawa. Most believe the reported shortages of supply have been sorted out, though some question whether they were ever there. Several LPs reported dumping cannabis supply last fall. Fire & Flower, which has a store in Ottawa and one in Kingston, said those two stores generated over $16.5 million in sales 11 months since April 2019.
However, the biggest crest of Ontario’s new wave of cannabis stores may yet be to come. Recently, the AGCO has reported that it received over 700 licence applications since January 6, 2020.
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Click here to view full story on London’s new store at www.cbc.ca