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Fresh, ready-to-go food fuels Farm Boy’s growth
MARK RENDELL
Special to The Globe and Mail
9 hours ago
Over the past three years, Farm Boy has opened stores in half a dozen communities across Ontario. And while the company has largely avoided the ultra-competitive Toronto market, it has been moving pieces into place in preparation for an aggressive push into the Greater Toronto Area over the next several years.
"We have 10 to 12 leases either ready to be signed, negotiated or development plans in place in the GTA," said chief executive officer Jeff York, who took the reins of the company in 2009 after a long career leading the discount store Giant Tiger. "In Ottawa we have 13 stores, so we can do 50 stores into Toronto pretty easily, in the GTA."
The company, sometimes described as Canada's answer to Whole Foods or Trader Joe's, is riding the wave of organic, health-conscious eating. It has also seen success by focusing on the growing demand for ready-made food to go, as more people buy lunches or eat dinner on the run.
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For the urban locations, the company is testing a smaller store model with a new 8,000-square-foot outlet opening in Ottawa's Rideau Centre. Mr. York envisages similar-sized stores popping up in condo or office developments in downtown Toronto to compete with the likes of Rabba Fine Foods.
That seems like a strategically sound move, said Dr. Charlebois. "The trend right now is toward smaller stores. Convenience has more currency than, say, five years ago. Price is very important, but convenience is becoming very important," he said.
Fresh, ready-to-go food fuels Farm Boy’s growth
MARK RENDELL
Special to The Globe and Mail
9 hours ago
Over the past three years, Farm Boy has opened stores in half a dozen communities across Ontario. And while the company has largely avoided the ultra-competitive Toronto market, it has been moving pieces into place in preparation for an aggressive push into the Greater Toronto Area over the next several years.
"We have 10 to 12 leases either ready to be signed, negotiated or development plans in place in the GTA," said chief executive officer Jeff York, who took the reins of the company in 2009 after a long career leading the discount store Giant Tiger. "In Ottawa we have 13 stores, so we can do 50 stores into Toronto pretty easily, in the GTA."
The company, sometimes described as Canada's answer to Whole Foods or Trader Joe's, is riding the wave of organic, health-conscious eating. It has also seen success by focusing on the growing demand for ready-made food to go, as more people buy lunches or eat dinner on the run.
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For the urban locations, the company is testing a smaller store model with a new 8,000-square-foot outlet opening in Ottawa's Rideau Centre. Mr. York envisages similar-sized stores popping up in condo or office developments in downtown Toronto to compete with the likes of Rabba Fine Foods.
That seems like a strategically sound move, said Dr. Charlebois. "The trend right now is toward smaller stores. Convenience has more currency than, say, five years ago. Price is very important, but convenience is becoming very important," he said.