This article contains promotional content .(November 2017) |
Company type | Public |
---|---|
TSX: GRGD | |
Industry | |
Founded | 1975Montreal, Quebec, Canada | in
Headquarters | Ville Mont-Royal, Quebec, Canada |
Number of locations | 300 stores (2024) [1] |
Key people | Andrew Lutfy (CEO) |
Products | Clothing |
Brands | |
Revenue | CA$888 million (2024) [2] |
CA$128 million (2024) [2] | |
Owner | Andrew Lutfy (87%) [3] |
Number of employees | 6,000 (2024) [3] |
Website | groupedynamite |
Groupe Dynamite Inc. is a Canada-based clothing company, originally founded in 1975 as The Garage Clothing Company. The company creates, designs, markets and distributes from its head office in Montreal, Quebec, and operates over 300 stores across Canada and the United States, with around 6,000 employees (as of 2024). [3]
In September 2020, the group filed for creditor protection under the Companies' Creditors Arrangement Act. [4]
In December 2020, the group partnered with Uber to offer same-day delivery to customers in the Montreal area. Groupe Dynamite became the first national retailer in Canada to offer this service. [5]
Created in 1975, The Garage Clothing Company was the inception of the current company.
Groupe Dynamite was established in 1984. In 2020, Groupe announced they would be restructuring the company, following their filing for creditor protection under the Companies' Creditors Arrangement Act. They also announced following the approval of that protection by the Superior Court of Quebec, they would seek provisional recognition under Chapter 15 of the US Bankruptcy Code . [6] [7]
The company went public in November 2024 via an initial public offering on the Toronto Stock Exchange raising CA$300 million and valuing the company at $2.3 billion. [3] [1]
Sears Canada Inc. was a publicly-traded Canadian company affiliated with the American-based Sears department store chain. In operation from September 18, 1952 until January 14, 2018, and headquartered in Toronto, Ontario, the company began as Simpsons-Sears—a joint venture between the Canadian Simpsons department store chain and the American Sears chain—which operated a national mail order business and co-branded Simpsons-Sears stores modelled after those of Sears in the U.S. After the Hudson's Bay Company purchased Simpsons in 1978, the joint venture was dismantled and Hudson's Bay sold its shares in the joint venture to Sears; with Sears now fully owning the company, it was renamed Sears Canada Inc. in 1984. In 1999, Sears Canada acquired the remaining assets and locations of the historic Canadian chain Eaton's. From 2014, Sears Holdings owned a 10% share in the company. ESL Investments was the largest shareholder of Sears Canada. Sears Canada operated 125 full-line department stores at its' peak.
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Dynamite Clothing is a clothing store catered to women between the ages of 25 and 30 years old. Founded in 1984 as a subsidiary of Groupe Dynamite, Dynamite currently has locations in Canada, the United States, Jordan and Saudi Arabia. Alongside its sister brand, Garage, Dynamite has been recognized as one of Canada's Top Employers for young people in 2019. The current CEO, Andrew Lutfy, has started working at Groupe Dynamite at the age of 18 and was one of the creators of the Dynamite clothing brand. Dynamite contributes to the CURE Foundation, a Canadian foundation that provides funding for basic and clinical research for breast cancer. On September 8, 2020, it was announced that Groupe Dynamite filed for creditor protection in Canada as well as Chapter 15 in the United States.
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