- PlantX is set to open two new XMarket locations in Toronto and Ottawa
- These will be shop-in-shops within Hudson’s Bay stores in a partnership that began back in April 2021
- The new additions line up with PlantX’s XMarket rebranding and an expansion plan that, so far, covers Tel Aviv, California, and British Columbia
- This expansion initiative will be integral to enhancing customer engagement and promoting plant-based living across Canada
PlantX Life (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) recently announced, in a corporate update, its ongoing retail branding initiative that involves renaming existing brick-and-mortar stores as ”XMarket.” The company’s primary objective with this initiative, so far, is to appeal to more customers across different locations, including Tel Aviv, California, and British Columbia, among others (https://ibn.fm/OsZnv).
In a more recent announcement, PlantX announced that it would be taking this expansion plan a step further, with the opening of two new shop-in-shops within key Hudson’s Bay locations (https://ibn.fm/90tNf). This move builds on the growing partnership with Hudson’s Bay that started with PlantX’s launch as a marketplace seller on www.TheBay.com back in April 2021.
The two new locations will be in Yorkdale Mall, Toronto, and Rideau Mall in Ottawa, set to open on November 15 and November 22, 2021, respectively.
When making the announcement, Sean Dollinger, the founder of PlantX, noted, “The stores will be crucial discovery touchpoints for customers frequenting these highly trafficked areas, which will boost the PlantX brand recognition. This move enables us to make significant and exciting investments that will enhance customer engagement and provides us with yet another opportunity to promote plant-based living across Canada.”
These XMarket stores will showcase various plant-based grocery items from PlantX’s vast catalogue of over 5,000 plant-based products. They will also stock cosmetics as well as indoor plants. The Rideau location will also include an XMarket-branded café that will offer carefully selected plant-based food and beverages.
From a financial standpoint, this shop-in-shop licensed model is set to increase PlantX’s economic efficiency, mainly through establishing more favorable terms for brick-and-mortar stores and cafes. Additionally, given the strategic locations, PlantX will benefit from extended physical access to a diverse customer base who will be introduced to the company’s products and services.
Most importantly, having XMarket stores within these high-traffic Hudson Bay locations will allow the company to increase its e-commerce and in-store profitability, given the improved customer reach, brand awareness and the ability to provide same-day deliveries.
This announcement affirms PlantX’s commitment to growing its brand, expanding its market reach and promoting plant-based living, not just in Canada but also around the world.
NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at https://ibn.fm/PLTXF
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