Mountain Equipment Company (MEC) CEO and now co-owner Peter Hlynsky joins me for an exclusive interview and discusses the iconic Canadian outdoor retailer's remarkable journey from student van sales to a 21-store cooperative through private equity ownership and back to Canadian hands. He shares MEC's unique employee culture, where staff test gear on paid "Rad Days," the successful transition from co-op to company while maintaining member benefits and loyalty, and looks forward to growth opportunities as he and his partners Tim Gu and MEC's Chief Merchandising Officer Chris Speyer balance branded and private label merchandise, authentic customer service and staying focused on core retail competencies.
In this exclusive interview, I chat with Peter Hlynsky, CEO of MEC (Mountain Equipment Company), one of Canada's most iconic outdoor retailers. Peter shares his remarkable journey from CFO to CEO over five years at MEC, detailing his passion for the outdoors that initially drew him to the company rather than retail specifically.
MEC's origin story is captivating - it began in the early 1970s, when University of British Columbia students drove to REI in Washington, bought climbing gear, and sold it from their van on campus. This evolved into Canada's premier outdoor retail cooperative with 21 stores by 2020, becoming what Peter describes as "a candy store for the outdoors."
The company's unique employee culture sets MEC apart in the competitive outdoor retail landscape. Staff members genuinely live the lifestyle they sell through "Rad Days" - paid outdoor adventures where employees test gear and bring back real-world experiences. This authentic product knowledge enables staff to provide honest recommendations, sometimes even steering customers away from products that don't fit their specific needs.
Peter discusses MEC's significant transformation from a member-owned cooperative to a private company, maintaining the "member" terminology and benefits that resonate with Canadian consumers. The recently relaunched membership program includes purchase-based discounts, exclusive access to popular store events, and MEC's legendary "rock solid guarantee" - one of the industry's most comprehensive return policies.
A significant development is MEC's return to Canadian ownership after being acquired by private equity in 2020. Peter and Chief Merchandising Officer Chris Beyer joined the new Canadian ownership group, led by Tim Gu, bringing manufacturing expertise that is particularly valuable for MEC's private label products, which comprise one-third of their business alongside branded products from Patagonia, Arc'teryx, and Yeti.
The merchandising strategy balances premium branded products with MEC's highly-regarded private label offerings, providing similar quality at lower prices without wholesale markups. This combination creates a compelling value proposition that competitors struggle to match.
Looking ahead, Peter sees significant growth opportunities as competitors exit the market following the COVID-19 pandemic. Atmosphere closed standalone stores, and regional players shuttered operations, creating organic growth potential. MEC plans opportunistic store expansion in underserved Canadian markets, capitalizing on available real estate from retailer closures.
Peter's retail advice emphasizes focusing relentlessly on core competencies rather than chasing trending business models. For MEC, this means maintaining its specialty outdoor retailer identity through exceptional in-store service, curated product assortments, and a consistent customer experience across all channels.
The episode highlights how authentic brand positioning, employee engagement, and customer-centric policies can sustain competitive advantages in challenging retail environments. MEC's successful transition from a cooperative to a company while preserving its brand values demonstrates effective change management in retail transformation.