Built to Compete: Canada's Fire & Flower's Strategic Transition to the U.S. Backed by Retail Giant

Built to Compete: Canada's Fire & Flower's Strategic Transition to the U.S. Backed by Retail Giant

Fire & Flower is one of Canada’s leading cannabis retailers with a network of more than 80 corporate-owned stores, 28 of which are in the 14 million people Ontario market.

In addition to being licensed to sell cannabis in several provinces, the company has developed best-in-class proprietary retailing technology — HifyreTM digital platform — seamlessly connecting consumers with cannabis products. The advanced retail sales platform leverages data to deliver personalized, effective, consumer and partner engagements.

At Benzinga’s latest cannabis capital conference, Fire & Flower CEO Trevor Fencott discussed the company’s eagerness to bring the brand and its retail technology platform to the U.S.

Competing Where It’s Most Competitive

Fire & Flower has been fighting tooth and nail in Canada and succeeding in this environment. Alberta has 1 store per 8,000 people, which is more competitive than Colorado. Unlike many vertically integrated multistate operators (MSOs) that are fighting over the limited license, oligopoly states, Fencott is taking Fire & Flower’s successful operating model and plans to compete in key established cannabis market states in the U.S.

The company makes the legal transition to the U.S. after it signed a licensing agreement with American Acres. With this agreement, the company will effectively license its store brand, along with its operating system and Hifyre tech to a group of dispensaries located in California, Arizona and Nevada. 

The agreement also gives the company the option to acquire American Acres at a discount in the event of federal legalization or when otherwise permitted by the policies of any stock exchange on which Fire & Flower’s securities are listed for trading.

Fencott believes Fire & Flower’s tech-forward approach is the pillar of retail as product innovation is driving new categories …

Full story available on Benzinga.com