2.3 million Canadians bought from mega-cannabis retailer Spiritleaf in 2020

Inner Spirit Holdings Ltd. CEO Darren Bondar. (Spiritleaf handout)

Spiritleaf cannabis stores ended 2020 on a high, serving a milestone 2.3 million customers and surpassing $100 million in sales.

The achievement for Inner Spirit Holdings Ltd., comes as the Canadian company recently opened a 70th store in Edmonton, Alta., in December with two more brick-and-mortar Ontario locations this month in Hamilton and Toronto.

“We made significant progress on our business strategy as we opened a new Spiritleaf store every 14 days on average last year to serve local communities and share our knowledge and expertise with customers,” said CEO Darren Bondar.

“We expect 2021 will be just as eventful as we plan to increase our store-opening cadence and enter new markets, all while operating safely during the ongoing pandemic.”

The company plans to report its fourth quarter and full year 2020 financial results in early April. With the $105 million in total sales from both franchised and corporate-owned stores Inner Spirit is projecting annual revenue of approximately $26 million.

Already the leading retailer for number of store locations in Canada, company leaders say the goal is to be operating more than 100 Spiritleaf stores by the end of 2021, with approximately 80 franchised and over 20 corporate-owned.

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