Groupe Dynamite

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Groupe Dynamite Inc.
Company type Public
TSX:  GRGD
Industry
Founded1975;50 years ago (1975) in Montreal, Quebec, Canada
Headquarters Ville Mont-Royal, Quebec, Canada
Number of locations
300 stores (2024) [1]
Key people
Andrew Lutfy (CEO)
Products Clothing
Brands
RevenueCA$888 million (2024) [2]
CA$128 million (2024) [2]
OwnerAndrew Lutfy (87%) [3]
Number of employees
6,000 (2024) [3]
Website groupedynamite.com

Groupe Dynamite Inc. (TSX: GRGD) 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] Operating retail stores and digital experiences under two complementary and spirited banners—GARAGE and DYNAMITE—Groupe Dynamite offer a wide range of women's fashion apparel, catering to the needs of Generation Z and Millennials.

Contents

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. [4]

History

Garage

Created in 1975, The Garage Clothing Company was the inception of the current company.

Groupe Dynamite

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 . [5] [6]

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]

References

  1. 1 2 Dion, Mathieu (9 December 2024). "Billionaire Lutfy's Dynamite IPO Was a Matter of Succession". Bloomberg News.
  2. 1 2 Dobby, Christine; Dion, Mathieu (7 November 2024). "Fast-fashion retailer Dynamite files for IPO as revenue grows". Bloomberg News.
  3. 1 2 3 4 Benchetrit, Jenna (21 November 2024). "Montreal fashion brand Groupe Dynamite launches IPO on Toronto Stock Exchange". Canadian Broadcasting Corporation.
  4. ↑ "Garage and Dynamite Partner with Uber to Provide Customers with Same-Day Delivery in Québec".
  5. ↑ "Groupe Dynamite files for creditor protection as COVID creates 'corporate tsunami' - BNN Bloomberg". 9 September 2020.
  6. ↑ "GDI secures court protection from creditors under CCAA to restructure". Retail Insight Network. 2020-09-09. Retrieved 2022-12-06.
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