A discount store chain with multiple locations on the Sunshine Coast is set to be renamed after it was acquired by an international retailer earlier this year.
The Reject Shop’s name is on the scrap heap, as its Canadian parent company plans to nearly double its store locations over the next decade.
The 395-store Australian discount chain was acquired by Canadian business Dollarama for $259 million in April, expanding its reach to more than 1600 stores globally.
CEO Neil Rossy told analysts last week that the Canadian company plans to convert all Reject Shop stores to Dollaramas by 2026-27, with four conversions already underway.
“It will be a gradual phase-in, again over the next several years, each year, ramping up the number of store conversions that we’re able to execute,” he said.
A spokeswoman said that only once a location contained a “critical mass” of Dollarama products would it be brought under the Dollarama banner.
“This will be a multi-year process,” they said.
The company’s long-term target is to reach 700 stores in Australia by 2034, Mr Rossy said.
He said the plan was to convert store layouts into a “convenient and consistent shopping experience we are recognised for”, as well as simplifying the price point structure, including the current pricing ceiling.
Dollarama prides itself on selling items “for $5 or less”.
The Reject Shop has been part of the Australian retail landscape for 44 years, with stores in every state except the Northern Territory.
Its website says it currently has four stores on the Coast: Currimundi Markets, Bulcock Street in Caloundra, Noosa Village and Noosa Fair.
