Canada’s cannabis retailer Fire and Flower “FAF” has made quite a name for itself due to its strategic expansion goals. They have their focus set on national and international expansion into new cannabis retail markets opening.
FAF is an independent, licensed, adult-use cannabis retailer that has interests in licensed cannabis retail stores in Saskatchewan, Alberta, Ontario, Manitoba and the Yukon Territory. An analyst at AltaCorp Capital noted that retail is the best way for investors to play in the current cannabis market, not cultivation nor production of the cannabis.
Hifyre and Cova Software Solutions Reach an Agreement
Back in 2018, Fire & Flower has completed its acquisition of Hifyre, which was of massive strategic importance. Being a successful digital product studio, Hifyre’s allowed FAF to create a marijuana ecommerce platform that will help drive success for the cannabis retailer.
Cova Software Solutions, on the other hand, is a POS and Inventory Management company that aims to enhance processes in cannabis retail.
The deal is expected to be of utmost importance to both FAF and Cova, as FAF will benefit from easier expansion to both domestic and international markets, while Cova will drive more profits from offering Hifyre’s services to its customers.
FAF Strengthening Its Position in Canada and Beyond
FAF has reached a number of lucrative agreements in the past couple of years that will allow it to drive its business forward. The recent partnership with a global retailer Alimentation Couche-Tard has allowed the company to simplify and expedite its expansion strategy.
There are numerous packaging and marketing restrictions that cannabis retailers have to deal with, so with the growing competition in the industry, only those with well-established plans and strategies can hope to become profitable.
FAF is well on its path to becoming the leading cannabis retailer in both Canada and the USA, thanks to its smart partnerships and well-thought-out strategies.
FAF Opens 9 New Cannabis Retail Stores in Alberta
Earlier in January, Fire & Flower has announced that 9 new cannabis retail locations have been opened in Alberta — this makes for 46 stores in total. The original milestone promised to shareholders was 45, and Fire and Flower has not only surpassed this milestone but achieved it in record time as well.
“Achieving this aggressive goal is a testament to our deep retail experience and strong management team”, said CEO Trevor Fencott.
Seeing the current issues that the cannabis industry is facing with laws and regulations, it appears that FAF is equipped to handle them with ease.
Summary
Fire and Flower is starting to be seen as the leading cannabis retailer in Canada. With smart partnerships and effective strategies, nothing seems to be in its way to success. The most interesting part is how ripe Canadian Retail CRE market is and how its still for the taking. FAF acquired over 40 retail stores across Canada quietly and quickly.
One thing is certain, it’s an excellent time to start investing in retail CRE in Canada and seize all the opportunities that the cannabis and other retail markets are creating. FAF retail success has been in Alberta, Saskatchewan, Ontario and other provinces. These are the main provinces that ReDev retail development team also focus on due to their growth potential. Contact us today, if you’re interested in investing in retail in Canada. We have investment opportunities and effective strategies to help you win.