In the Rich 100 issue
of Canadian Business,
Dollarama Founder Larry Rossy talks strategy.
“One of Rossy’s secrets is his penchant
for reverse engineering:
he will comb the malls,
looking for $10 items
he believes he can knock off
and source from Asia
to sell for $1.
He then gets his in-house design team
to develop sharp, customized packaging
to put around the products.
Dollarama has 70 house brands,
still a novel concept
in the dollar-store world.”
From $10 to $1,
if you plan to compete on price,
that is a ratio to keep in mind.