In short: Bought as an underwater IPO in the April "Liberation Day" tariff mayhem (visited the Montreal head office). A "great franchise" led by a "kick butt founder" that "can follow in the footstep of Aritzia" — higher-single-digit FCF yield (it was north of 20% fourteen months ago), and one of the businesses he thinks "can double or triple in size." Channel-checked via his daughter and her friends. Caveat: right now he'd rather own the landlords than the tenants.
Groupe Dynamite is a Montreal fashion retailer whose banners include Garage and Dynamite. Wealhouse bought it as a broken IPO — the shares were below their offering price — during the April tariff panic, when he deliberately went and did fresh work on the whole clothing sector because everything had been crushed.
His research edge here is unusually literal: his daughter and her friends. That signal has worked since Lululemon's own underwater 2008 IPO, then again with Aritzia, and now with Groupe Dynamite — though he admits Garage's younger shopper is harder for a 55-year-old to read in person. On numbers, it still generates free cash flow equal to a high-single-digit percentage of its market value (it was above 20% fourteen months ago, so much of the easy money is made), it's led by what he calls a "kick butt founder," and he thinks the company can "double or triple in size," following the path Aritzia took after Lululemon. The one caveat he states plainly: right now he'd rather own the landlords than the retailers who rent from them.
32:48digits you could buy group dynamite at north of a 20% free cash flow yield 14 months ago it's not there anymore So, but I think in both cases they're led by kick butt founders that will that culturally have made those companies successful. And when I again when I talked to my daughter and her friends, they're spending money there, I'll tell you.
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