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“The first thing I did was analyze the Canadian and international markets for real caviar. We realized most companies in this space are simply distributors, meaning they buy from producers and resell the product. We decided let’s not become a me, toocompany. Let’s become the company,” Cohen said. “We bought ovaries from fishermen across Canada and the U.S. to produce our own caviar. Now, those distributors across Canada that were importing caviar are clients. For sturgeon caviar, we partnered with the largest sturgeon farm in the world, which is based in Italy. We represent them exclusively in Canada.”

Today, Imperial Caviar’s kelp caviar is sold in 19 countries around the world and its fish roe is sold in Canada, the U.S., Europe, the United Emirates and South Africa.

Then and now

In 2013, seven months after launch, sales reached about $160,000. At the close of this fiscal year, the company will have made slightly more than $2 million in revenue.

Imperial Caviar’s products are available in more than 3,000 stores largely on Canada’s East Coast and in some 460 stores in the U.S. as well as online at Costco. Cohen is negotiating with Costco in Australia to carry its fish roe. Kelp caviar represents 45 per cent of the business, with the bulk of those sales in the U.S. “When we started the company, we decided to let it grow organically and that was retail. Up until late last year, 95 per cent of sales were retail,” Cohen said.

“We have put in a lot of effort to get into the food service space and in eight months the ratio has shifted to 70 per cent retail, 30 per cent food service. Ideally, I’d like to see it 50/50.”