Dollarama Inc. is a Canadian
dollar store retail
Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is the sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholes ...
chain headquartered in
Mount Royal, Quebec
Mount Royal ( , officially Town of Mount Royal, Ville Mont-Royal, abbreviated TMR, ) is an affluent Greater Montreal, on-island suburban town located on the northwest side of the eponymous Mount Royal, northwest of Downtown Montreal, on the Isla ...
. Since 2009, it has been Canada's biggest retailer of items for five dollars or less.
Dollarama has over 1400 stores and is active in all of Canada;
Ontario
Ontario is the southernmost Provinces and territories of Canada, province of Canada. Located in Central Canada, Ontario is the Population of Canada by province and territory, country's most populous province. As of the 2021 Canadian census, it ...
has the most stores.
History
Rossy S Inc.
The first all-dollar store was founded in Montreal in 1910 by Salim Rassy, a
Lebanese immigrant, whose name became Rossy.
His son George took over the retailer in 1937 and led the company until his death in 1973 when grandson Larry Rossy assumed leadership of it when it had 20 stores.
Dollarama
The discount retailer grew to 44 stores by 1992 which until then operated under the corporate name Rossy S Inc. but traded simply as Rossy (not to be confused with
Rossy Michael Ltd., a similar chain founded in 1949 by another son of Salim Rassy). That year, Larry Rossy opened the first Dollarama at the shopping center "Les Promenades du St-Laurent" in
Matane
Matane () is a town on the Gaspé Peninsula in Quebec, Canada, on the south shore of the Saint Lawrence River at the mouth of the Matane River. The town is the seat for the La Matanie Regional County Municipality.
In addition to Matane itse ...
. The Dollarama division rapidly overtook Rossy S as the primary source of revenue for the Rossy family. Locations of Rossy S were rare after 1997 and the chain quietly disappeared by the turn of the new millenium with all of its stores either closed outright or converted into Dollarama branches. After converting all the locations to the dollar store concept, Larry Rossy continued to open new stores eventually reaching 1,000 stores in 2015.
In November 2004, 80 percent of the chain was sold for $850 million US, to a
private equity fund
A private equity fund (abbreviated as PE fund) is a collective investment scheme used for making investments in various equity (and to a lesser extent debt) securities according to one of the investment strategies associated with private equity.
...
,
Bain Capital
Bain Capital, LP is an American Investment company, private investment firm based in Boston, Massachusetts, Boston, Massachusetts, with around $185 billion of assets under management. It specializes in private equity, venture capital, credit, p ...
, of
Boston
Boston is the capital and most populous city in the Commonwealth (U.S. state), Commonwealth of Massachusetts in the United States. The city serves as the cultural and Financial centre, financial center of New England, a region of the Northeas ...
,
Massachusetts
Massachusetts ( ; ), officially the Commonwealth of Massachusetts, is a U.S. state, state in the New England region of the Northeastern United States. It borders the Atlantic Ocean and the Gulf of Maine to its east, Connecticut and Rhode ...
.
Post IPO
Dollarama's
initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...
took place on October 9, 2009. In 2013, Dollarama was planning to expand its market to
Latin America
Latin America is the cultural region of the Americas where Romance languages are predominantly spoken, primarily Spanish language, Spanish and Portuguese language, Portuguese. Latin America is defined according to cultural identity, not geogr ...
, and made an eight-year agreement to share its business expertise and offer sourcing services to
Dollarcity, a
Salvadoran chain of
dollar stores in
Central America
Central America is a subregion of North America. Its political boundaries are defined as bordering Mexico to the north, Colombia to the southeast, the Caribbean to the east, and the Pacific Ocean to the southwest. Central America is usually ...
and
Colombia
Colombia, officially the Republic of Colombia, is a country primarily located in South America with Insular region of Colombia, insular regions in North America. The Colombian mainland is bordered by the Caribbean Sea to the north, Venezuel ...
.
In 2016, Dollarama established a partnership with the Marco G. R. Enterprise, resulting in the sponsorship of the first edition of the Formula Windsor Championship.
In 2018, Dollarama recalled over 50,000 children's toys due to dangerous levels of
phthalates.
The number of stores in October 2021 was 539 in Ontario, 379 in Québec, 134 in Alberta, 111 in British Columbia, 42 in New Brunswick, 41 in Manitoba, 40 in Nova Scotia, 40 in Saskatchewan, 25 in Newfoundland and Labrador, and 5 in Prince Edward Island. The company announced that it would open 700 new locations across Canada (including a few replacements for some of the
Great Canadian Dollar Store locations) in the aforementioned provinces as well as their first store in the
Yukon Territory
Yukon () is a territory of Canada, bordering British Columbia to the south, the Northwest Territories to the east, the Beaufort Sea to the north, and the U.S. state of Alaska to the west. It is Canada’s westernmost territory and the smallest ...
.
Acquisition of The Reject Shop
On 26 March 2025, Dollarama announced they would be acquiring Australian discount retailer
The Reject Shop for CA$233 million (A$259 Million). The investor presentation says it will deliver a “dollarama shopping experience” with a new store layout, design and merchandising experience. As a result, all stores under The Reject Shop banner will be progressively converted into Dollarama stores, effectively spelling the end of The Reject Shop in Australia. The conversion of these stores to Dollarama is currently pending.
Business practices

Many items are priced at $1.00 or less, and initially almost all items were priced as such.
In early 2009, Dollarama began to introduce items priced up to $2.00 (including $1.25 and $1.50 price points). Due to the positive response from consumers to the multi-price point strategy, the stores introduced items at $2.50 and $3.00 in August 2012. It again increased price points to include $3.50 and $4.00 items in August 2016. In 2022, Dollarama announced that its maximum price point would be increasing to $5.00. This price level increase allowed the chain to acquire products from a greater variety of sources, including closeout sales.
Adjustments may eventually happen to all prices. Dollarama has always had a No Return and No Exchange Policy, stating an item cannot be given back to the store once a purchase is complete.
Payment in Dollarama stores was once by
cash
In economics, cash is money in the physical form of currency, such as banknotes and coins.
In book-keeping and financial accounting, cash is current assets comprising currency or currency equivalents that can be accessed immediately or near-i ...
only, until
Interac
Interac is a Canadian interbank network that links financial institutions and other enterprises for the purpose of exchanging electronic financial transactions. Interac serves as the Canadian debit card system and the predominant funds transf ...
debit card
A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either ...
s were added as a payment option beginning in 2008.
Gift cards began to be offered in 2011. As of 2015, all Dollarama stores also support contact-less
Interac Flash payments. In March 2017, Dollarama announced that
credit cards would be offered as a payment option at all stores by the end of summer 2018. Customers will be able to pay with
Visa,
Mastercard, and
American Express
American Express Company or Amex is an American bank holding company and multinational financial services corporation that specializes in payment card industry, payment cards. It is headquartered at 200 Vesey Street, also known as American Expr ...
, following a successful pilot program.
Many Dollarama stores were opened in place of former locations of the now defunct
BiWay, which closed after a series of dubious financial transactions involving a new owner of the parent operation.
Dollarama launched its online store on January 21, 2019 where it will sell many of its products in bulk. Only 1000 of the roughly 4000 products offered in Dollarama stores will be sold online, namely items that are easily purchased in bulk.
See also
*
A Buck or Two
*
Dollar Tree
Dollar Tree, Inc. is an American multi-price-point chain of discount variety stores. Headquartered in Chesapeake, Virginia, it is a ''Fortune'' 500 (sometimes referred to as Fortune 200) company and operates 15,115 stores throughout the 48 ...
*
Great Canadian Dollar Store
*
Your Dollar Store with More
References
External links
Official websiteCNW: Dollarama, press releases
{{Morningstar National Bank Québec Index
Companies listed on the Toronto Stock Exchange
Franchises
Variety stores
Discount stores of Canada
Companies based in Montreal
Private equity portfolio companies
Bain Capital companies
S&P/TSX 60
Retail companies established in 1992
1992 establishments in Quebec
Canadian brands
Office supply companies of Canada