I love T&T Supermarkets, the Chinese/Asian grocer that started appearing in the GTA just a few years ago. Their latest store on Cherry St. is a weekly stop for me. Filled with all sorts of asian specialty goods and fantastic prices I think it has been a huge success here as it has been in their home market in Vancouver.
This success was noticed and today Loblaws announced they are buying T&T for $225 million dollars. This gives me mixed feelings. As an investor of Loblaws, I think this can only be good for the company. Expanding into ethnic markets is a sure avenue for growth and buying a chain is definitely the best strategy rather than building their own brand.
However, one of the joys of T&T was that it wasn’t Loblaws. They were the first in the city to introduce those new rolley baskets, they have great fresh food and a sit-down area to eat the prepared foods. They have products offered from a wide variety of ethnic backgrounds – most recently I noticed their Korean food offerings being expanded.
Let’s hope Loblaws doesn’t tinker with the formula – and try to increase profitability by sacrificing the uniqueness of this market. If the aisles prominently display President’s Choice Soy Sauce front-and-center on the shelves, it will be time to shop somewhere else.
Tags: asian, chinese, gourmet, groceries, loblaws, T&T
Entries (RSS)