Article by Global Cofee Report
After launching in Toronto in early July, recreational marijuana dispensary chain Hemisphere Cannabis Co has opened its second location in Toronto. Hemisphere Cannabis Co is developed and operated by Aegis Brands, which is also the parent company of both Second Cup Coffee Co and Bridgehead Coffee.
In marking the opening of this second location, Aegis Brands CEO Steven Pelton shared insight into the early success of Hemisphere’s first location at 1703 Avenue Road in Toronto, and the chain’s plans for continued growth. He also confirmed that the first Hemisphere location is already ahead of projections in sales and profitability.
“The ability to leverage our premium real estate across Canada – and to convert Second Cup locations to Hemisphere locations only as licenses are approved – is truly unparalleled,” says Pelton.
“Couple that advantage with the fact that being part of Aegis provides Hemisphere with incredible leadership in marketing, [human resources], real estate, and finance, with no need to build out a head office team from scratch. We have an industry-leading model that will allow the brand to be profitable within months of opening.”
The Hemisphere store experience was built to offer wayfinding for Canadians in their cannabis purchase journey. Pelton is confident that a premium in-store experience will be a key competitive advantage as the cannabis retail landscape continues to expand.
“We’ve leveraged forty years of retail experience to create a store environment that is truly second-to-none,” Pelton says. “Hemisphere locations are warm and welcoming for everyone from the canna-curious to seasoned users – offering a guided experience for those who need it, and a simple-to-navigate shopping experience for those who don’t. As the cannabis retail market becomes more developed, we know that the quality of our in-store experience is going to become a critical point-of-difference. And there’s no one offering a better in-store experience right now than Hemisphere.”