Sherwin-Williams is the great retail growth story nobody is talking about

August 21, 2018

Powerhouse paint company Sherwin-Williams is a stealth retail success story worth celebrating, as the company continues its aggressive expansion across Canada.  
A household name in quality paints, Sherwin-Williams is the largest coatings company in the world and its products are sold at wholesale branches, home centres, independent retailers, mass merchandisers, and through a network of more than 4,624 company-operated paint stores around the globe.
The Fortune 500 Company recently released its latest earnings report, which shows it generated US$15 billion in sales in 2017 and opened 101 stores during its most recent fiscal year. With 34.4 % total revenue growth , Sherwin-Williams earned a very impressive third place on the list of fastest-growing U.S. retailers, as compiled by eMarketerRetail—Wayfair took the number one spot (43.7% growth) and Amazon was number two (35.5% revenue growth).  Wow!
Not bad for a company with roots that go back more than 150 years: It was founded in Cleveland, Ohio in 1866 as Sherwin-Williams Paints and has gone from strength to strength. And, there’s even a strong Canadian connection, with Ontario-born Walter H. Cottingham becoming Sherwin-Williams’ second president in 1909: He is credited with helping grow the brand through innovation and acquisition.
While this heritage company has proven its staying power, with enviable growth stats that give the upstarts a run for their money, Sherwin-Williams isn’t slowing down and continues to expand its store footprint around the globe and here in Canada. The plan to open numerous retail stores across the country, with a strong focus on British Columbia, Ontario and Quebec.
Think Retail is thrilled to work with this dynamic company, which boasts a Canadian annual growth rate of about 10%. Sherwin-Williams already operates more than 240 stores in communities coast to coast—48 in British Columbia, 27 in Alberta, seven in Saskatchewan, nine in Manitoba, 90 in Ontario (two opened in the last six months), 37 in Quebec (two more stores in the last six months), four in New Brunswick, two in Newfoundland, six in Nova Scotia and one in PEI.
Moving forward, ideal stores are 2,800 to 4,000 sq. ft. along high streets and in open-air centres.
For more about this iconic brand and its plans for growth in Quebec, visit the Sherwin-Williams website or contact the Think Retail team. Sherwin-Williams works with Webster Retail in Ontario and Greenwood Realty in British Columbia.