Business

High Tide Claims Top Spot in Financial Times List of Fastest Growing Retailers

Ranking lists the top 500 companies that have achieved the highest CGR in revenues between 2018-2021.

Published

2 years ago

March 29, 2023

Brad Cheng

Raj Grover, President & CEO of High Tide Inc. PHOTO COURTESY CNW GROUP/HIGH TIDE INC.

High Tide Inc., a cannabis-focused retail enterprise currently ranked #15 in the Global Cannabis 50, has secured the top spot on the Financial Times‘ list of Fastest Growing Retailers in the Americas for 2023. The company has also been ranked 31st out of 500 companies across all categories. The prestigious award is presented by Financial Times and Statista Inc., a world-leading statistics portal and industry ranking provider. The awards list was announced on March 28th, 2023, and can currently be viewed on the Financial Times website.

The Americas’ Fastest Growing Companies 2023 ranking lists the top 500 companies in the Americas that have achieved the highest compound annual growth in revenues between 2018 and 2021. Across 20 countries, over 7,000 public companies were examined.

High Tide has grown rapidly since the legalization of cannabis in Canada in late 2018. The company’s revenues have grown from just over $8 million dollars to a current annual run rate approaching half a billion dollars. High Tide operates a diversified portfolio of cannabis-related businesses, including bricks-and-mortar retail, e-commerce platforms, and wholesale distribution.

The company’s President and CEO, Raj Grover, commented on the recognition, stating that “to be recognized as one of the top players by Financial Times, an internationally recognized publication, is a major honour. Winning the top spot in the retail category speaks to our team’s dedication in executing our vision to become the clear leader and a household name in the Canadian cannabis retail landscape.”

High Tide’s hypergrowth strategy has seen the company become the largest non-franchised cannabis retail chain in Canada, with 151 current locations spanning British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario. The company also operates a suite of leading accessory sites across the world, including Grasscity.com, Smokecartel.com, Dailyhighclub.com, and Dankstop.com.

In addition to being recognized on the Financial Times list of Americas’ Fastest Growing Companies 2023, High Tide has been named one of Canada’s Top Growing Companies in both 2021 and 2022 by the Globe and Mail‘s Report on Business Magazine.

To discover the full impact of High Tide, visit www.hightideinc.com.

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