Canada is getting a brand-new discount store and Dollarama fans will be obsessed

Listen up, Dollarama fans! There's a new discount store coming to Canada that's about to give your favourite budget haunt some serious competition — and fans of wallet-friendly products are going to want to check it out ASAP.

Flying Tiger Copenhagen, a Danish retailer that's been operating across 44 countries for the past 31 years, is officially opening its first Canadian store this Friday at the Eaton Centre in Toronto, according to The Canadian Press.

At least four more locations are set to follow before the year is out, with bigger expansion plans on the horizon.

In fact, Flying Tiger's chief executive has pretty big plans for Canada. Jens Aarup Mikkelsen told The Canadian Press, "We really believe it's going to be one of the leading markets in the Americas."

Flying Tiger Copenhagen — more commonly known as Flying Tiger — is a quirky home goods store that sits somewhere between Dollarama, IKEA and Homesense vibe-wise.

Particularly well-known in Europe, the store sells all kinds of fun, affordable finds, like colourful stationery, quirky accessories, and the kind of impulse buys you didn't know you needed, like mini washing machines for cleaning makeup sponges, hand fans and unique journals.

It also has a solid homeware and kitchen range, covering everything from dishware and glassware to candles, vases, and home organization products.

Hobby and craft lovers will find plenty to love, too, with DIY kits, painting supplies, yarn, kids' toys, and fun seasonal items around Easter and Christmas.

Rounding things out is a selection of everyday basics — wrapping paper, gift bags, balloons, travel-sized toiletries, and even a small confectionery section.

The Canadian Press reports that about 80% of Flying Tiger's 1,800 products are priced under $10, and roughly 300 new items drop every single month.

Here's the catch: when something sells out, it's usually gone for good, because the brand has already moved on to the next.

Flying Tiger locations are typically light and airy, with big front windows, low shelving and open product displays that let you see the whole space at a glance. Stores have a stripped-back, Scandinavian feel and are generally bright, uncluttered, and easy to browse.

The brand has a charming origin story, too. It started as a flea market stall in Denmark, where founder Lennart Lajboschitz sold umbrellas with his wife, Suz. The first proper store opened in Copenhagen in 1995, where everything cost 10 Danish kroner — and the name Tiger is actually a play on the Danish pronunciation of the word for a ten-kroner coin.

Now, more than 30 years later, it has over 1,000 stores worldwide.

Retail strategist Lisa Hutcheson of J.C. Williams Group told The Canadian Press that the store feels "a bit more elevated, curated" than your typical discount shop — something that "doesn't come off quite as cheap."

Retail analyst Neil Saunders of GlobalData also told the outlet that, compared to Dollarama, Flying Tiger is "more aspirational." Dollarama is your go-to for practical staples, while Flying Tiger leans more into the fun, colourful, slightly ridiculous things that make life a little more interesting.

Canada's discount retail space has been getting crowded lately, with Asian chains Miniso and Daiso also making moves here — but Flying Tiger's CEO Jens Aarup Mikkelsen seems unbothered.

"We like a good competition, and we're ready to take on what Canada brings," he told The Canadian Press.

The Toronto Eaton Centre store opens Friday — so consider this your sign to go see what the hype is about!

This article's cover image was used for illustrative purposes only.