Groupe Dynamite
 | This article contains promotional content. (November 2017) |
| Company type | Public |
|---|---|
| TSX: GRGD | |
| Industry | |
| Founded | 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 | |
| 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]
History
[edit]Garage
[edit]Created in 1975, The Garage Clothing Company was the inception of the current company.
Groupe Dynamite
[edit]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]
References
[edit]- ^ a b Dion, Mathieu (9 December 2024). "Billionaire Lutfy's Dynamite IPO Was a Matter of Succession". Bloomberg News.
- ^ a b Dobby, Christine; Dion, Mathieu (7 November 2024). "Fast-fashion retailer Dynamite files for IPO as revenue grows". Bloomberg News.
- ^ a b c d Benchetrit, Jenna (21 November 2024). "Montreal fashion brand Groupe Dynamite launches IPO on Toronto Stock Exchange". Canadian Broadcasting Corporation.
- ^ Yerak, Becky (9 September 2020). "Garage Clothing Chain Owner Seeks Protection from Creditors Amid Coronavirus Struggles". Wall Street Journal.
- ^ "Garage and Dynamite Partner with Uber to Provide Customers with Same-Day Delivery in Québec".
- ^ "Groupe Dynamite files for creditor protection as COVID creates 'corporate tsunami' - BNN Bloomberg". 9 September 2020.
- ^ "GDI secures court protection from creditors under CCAA to restructure". Retail Insight Network. 2020-09-09. Retrieved 2022-12-06.