Amidst the gutting losses and challenges reported this year, a few wins have emerged: Toronto-based Auxly Cannabis has moved into the sixth spot for total sales among licensed producers, earning a 5.7 per cent share of the total market in Q3, up from 4.9 per cent.
“Auxly continues to make strides towards reaching its goal of achieving 7-9 per cent share of market in Canadian recreational cannabis sales by the end of the year through expanded sales growth opportunities founded in consumer insights, innovation and executional excellence,” said CEO Hugo Alves in a statement.
Brand power
Auxly credits the strength of its brands like Kolab, Foray and Dosecann as well as its new product offerings like the Back Forty 40s pre-rolls for their success. It also helps that they’re winning the Cannabis 2.0 category, with 24.7 per cent of the vapour market — the largest by a huge margin, according to HiFyre data.
From Wheaton to Auxly
Originally called Wheaton Income, then Cannabis Wheaton, Auxly was founded by storied cannabis veteran Chuck Rifici, who also co-founded Tweed, which became Canopy Growth.
Perhaps notably, unlike so many other cannabis industry pioneers, Rifici wasn’t fired — he resigned his Auxly position as chairman in October of 2020, when the company underwent a cost-cutting restructuring.
See our Business of Cannabis interview with Chuck Rifici in December of 2017:
Onward and upward
Auxly has no plans to rest, instead setting its sights on reaching a seven to nine per cent share of the market by the end of Q4.
“As planned capabilities have come on-line our product line-up has grown to include Cannabis 1.0 products,” Alves said, “but our focus remains the same: to put our consumers first and consistently deliver unique, exciting products under brands that they can trust and love.”
