Groupe Dynamite

Groupe Dynamite Inc.
Company type
Public
TSX: GRGD
Industry
Founded1975; 51 years ago (1975) in Montreal, Quebec, Canada
HeadquartersVille Mont-Royal, Quebec, Canada
Number of locations
300 stores (2024)[1]
Key people
Andrew Lutfy (CEO)
ProductsClothing
Brands
RevenueCA$888 million (2024)[2]
CA$128 million (2024)[2]
OwnerAndrew Lutfy (87%)[3]
Number of employees
6,000 (2024)[3]
Websitegroupedynamite.com

Groupe Dynamite Inc. (TSX: GRGD) is a Canadian clothing company that was founded in 1975 as Garage. 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] Groupe Dynamite offers women's fashion apparel catered to Generation Z and Millennials through its banners; GARAGE and DYNAMITE.[4]

History

Garage

Main article: Garage (clothing retailer)

Created in 1975, the Garage banner was the beginning of the current company.

Groupe Dynamite

Groupe Dynamite was established in 1984. In 2020, while the COVID-19 pandemic prompted a restructuring, the company emerged with stronger lease terms and a more agile operating model. Groupe Dynamite has since demonstrated strong growth.[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 CA$2.3 billion.[3][1]

References

  1. ^ a b Dion, Mathieu (9 December 2024). "Billionaire Lutfy's Dynamite IPO Was a Matter of Succession". Bloomberg News.
  2. ^ a b Dobby, Christine; Dion, Mathieu (7 November 2024). "Fast-fashion retailer Dynamite files for IPO as revenue grows". Bloomberg News.
  3. ^ a b c d Benchetrit, Jenna (21 November 2024). "Montreal fashion brand Groupe Dynamite launches IPO on Toronto Stock Exchange". Canadian Broadcasting Corporation.
  4. ^ "Groupe Dynamite Investors - Welcome". Groupe Dynamite Investors. Retrieved 2025-10-17.
  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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