What kind of business is the Dollarama store?


Quick Answer

With 900 stores, Dollarama is Canada's largest dollar store chain, as of March 2015, states the official company website. In 1910, Salim Rossy started the retail business in Montreal, Quebec. Dollarama sells a wide variety of consumer products, general merchandise and seasonal items priced from $1.00 to $3.00.

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Full Answer

Since the 1910 opening of the first store, named S. Rossy, Inc., the family owned business has continued to grow over three generations. In 1992, CEO Larry Rossy opened the first store named Dollarama in Matane, Quebec, with all items sold for $1.00. The company changed the Rossy stores to the Dollarama concept and continued to add new locations, explains the company website. Dollarama purchased 60 locations in Ontario from a bankrupt retail chain and opened a large, new warehouse in Montreal in 2001. Company growth continued in 2004 and Bain Capital, a private equity group, acquired a majority interest in the business.

Dollarama went public in October 2009. Its stock trades under the symbol DOL on the Toronto Stock Exchange. As of March 2015, the company has seven price points for its merchandise, notes the company website. Dollarama stores are located in big and medium-sized cities and small towns throughout Canada.

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