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Target failed due to poor management, not regulation or entrenched competition.

https://hbr.org/2015/01/why-targets-canadian-expansion-faile... http://marketingmag.ca/brands/what-really-went-wrong-with-ta...

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There was an interesting fight at the time over the Target trademark, someone noticed that there was a Canadian trademark for Target up for grabs from a failed company and bought it, anticipating Target coming into Canada. Target ended up settling in court [0]

[0] https://www.wsj.com/articles/SB10001424052748703643104576291...

relevant...

https://www.youtube.com/watch?v=k4hDGJ2FwDI

https://www.youtube.com/watch?v=ohXYR69UhxI

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