Second Cup parent company confident about its retail expansion
September 11, 2020 By Grow Opportunity staff
Second Cup Coffee Co.’s parent company, Aegis Brands, says the company is on its way to establishing its presence in Canadian cannabis retail.
The company announced its plans for expanding its cannabis retail chain, Hemisphere Cannabis Co., after the success of its first store in July. Aegis Brands CEO Steven Pelton said in a Sept. 11 statement the company is getting ready to opening of its second Toronto location with a goal of 30 Hemisphere locations across the country by the end of 2022.
“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,” said Pelton. “We’ve leveraged forty years of retail experience to create a store environment that is truly second-to-none.”
Pelton said Aegis is in the early stages of securing a cannabis partner to co-produce a branded line of cannabis products, which will be made available for sale in all Hemisphere locations. In addition, and subject to cannabis marketing regulations, the company is actively exploring the production of THC and CBD beverages featuring Second Cup flavours and branding.
“Our goal, pending future deregulation of CBD, is to make Second Cup the first national coffee chain to sell CBD beverages in our cafés,” said Pelton.
While all cannabis retail locations require government approval, additional stores are already confirmed to open in the coming months in Ajax, Ottawa and Orleans, along with flagship Toronto locations on King Street West and Front Street East.
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