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How To Invest $ 95 Million In Canadian Expansion

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Explorer to invest $95 million in Canadian expansion

Adding more than 325 jobs in 21 retail locations around a country’s passion to explore

DENVER The board of directors at Explorer Industries Inc. (Explorer) announced its plan to invest nearly $95 million into expanding the company across the Canadian border. Over the next five years, Explorer plans to launch 21 new retail stores among seven major Canadian cities to help accommodate the country’s love for outdoor recreation, travel and adventure.

The decision to expand internationally came after an extensive competitive analysis of potential product and market opportunities. The funds for Explorer will also support new product research and development, distribution strategies, and new …show more content…

“While outdoor recreation may vary by region, we can all agree on its importance to one’s well-being. As an avid hiker, skier and climber myself, I spend a lot of time exploring the Canadian wild. I know firsthand the high demand for quality hiking and camping gear up north. It’s great to know that our top-market products will be readily available for Canadian consumers.“

Outdoor recreation, especially hiking, fishing and camping is popular all over Canada and a large part of the country’s identity. Alone, the camping industry contributes a total of $4.7 billion annually to Canada’s economy. Canada is known for its stunning landscapes that are protected and appreciated along various lakes, mountain ranges and inside 40+ National Parks.

The major Canadian cities planned for Explorer’s expansion include: Halifax, Ottawa, Toronto, Winnipeg, Calgary, Edmonton and Vancouver. For company success throughout the entire expansion process, the firm expects to hire 70 new employees in its Denver headquarters and gradually hire 325 full-time and part-time employees in its new Canadian retail locations. To celebrate Explorer’s new venture and ensure a smooth transition, the board of directors and senior management team at Explorer plan attending grand opening and employee appreciation receptions at all Explorer retail locations in Halifax, Nova Scotia, in March

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