Dollarama is expanding with 700 new stores across Canada in the next decade
There's about to be a Dollarama on every block: Canada's largest dollar store chain has announced plans to open hundreds more locations country-wide.
As of January 31, Dollarama reported operating just over 1,300 stores in Canada. The brand says it plans to expand that number to 2,000 by 2031.
Lockdown and the onset of the pandemic have proven beneficial for the brand. Dollarama's fiscal report shows that that sales grew by 6.3 per cent, increasing by just over $4,026,ooo million in the last year.
Though the company reported having to spend $84 million on measures related to COVID-19, it still managed to open 65 new stores.
Dollarama has its origins in a Montreal all-dollar store, founded in 1910 by Salim Rassy, a Lebanese immigrant who later changed his name to Rossy.
Over the decades the Rossy family has expanded the discount retailer, taking over many former locations of yet-to-be revived BiWay, and growing its price point from $1 to eventually including $4 items in 2016. It launched its long-awaited online store in 2019.
Toronto has well over 100 Dollarama stores, located in malls or as standalone stores, which have seen some of the bigger lineups during the pandemic.
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