ICYMI: 'Cutthroat' cannabis market smoking out some Calgary pot shops yyc yycbiz
Locally-owned pot retailers are also faced with the continued expansion of larger companies, which are slashing prices to a level that’s out of reach and occasionally buying up established local shops. Some owners have called for a temporary moratorium on new licences or regulations similar to B.C., where there is a limit on how many licences any one company can hold.
One of those larger firms is Calgary-based High Tide Inc., which operates 140 stores nationwide — 29 in Calgary and 75 across Alberta — under the Canna Cabana brand. Omar Khan, a senior vice president at High Tide, said retail cannabis is a “hyper-competitive” market in Alberta right now but his company still sees room to grow, particularly outside of urban areas.Article content
“We’re a fairly large chain, but we want all, including the independent in Alberta, to be successful. So we’re open to having those types of discussions with government.” Retailers are still hoping for further aid from AGLC and federal regulators in their ability to compete with the still-thriving black market, which Khan estimates comprises up to 40 per cent of all cannabis sales nationwide.
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