Yahoo Finance Canada’s Groupe Dynamite Promotes Stacie Beaver to President, COO
Canada’s Groupe Dynamite Inc. has promoted fashion retail veteran Stacie Beaver to president and chief operating officer, in a move designed to further the growth of the company.
In her new role, Beaver will oversee Groupe Dynamite’s operations and growth, the company said in a statement. Beaver has been with Groupe Dynamite since 2017 and previously served as its chief customer officer. Earlier in her career, she was group vice president of women’s merchandising at Abercrombie & Fitch for 17 years.
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Andrew Lutfy, Groupe Dynamite’s chief executive officer, previously held the dual-title role of president and CEO.
The privately held Groupe Dynamite, often referred to as GDI, operates two moderately priced women’s retail banners, Dynamite and Garage. The company launched in 1975 with the introduction of the Garage brand, and in 1984 launched the Dynamite brand. The group creates, designs, markets and distributes its merchandise from its head office located in Montréal. It operates more than 300 stores, mostly in Canada and the U.S., and employs more than 5,000 people.
Separately, Groupe Dynamite announced that the 100th Garage store in the U.S. will open Friday in the Arrowhead Mall in Glendale, Ariz. Garage targets Gen Z. Garage has had only modest growth in the U.S.; 10 years ago, there were 45 Garage stores in the States. However, Beaver was credited for making “a remarkable impact” on the Garage division, which has been experiencing consistent profitable growth year-over-year and plans to continue to expand in the States this year, according to the company.
“Her in-depth understanding of our customers, products and operations contribute to our success and set her apart. As an unparalleled fashion brand leader with strong business acumen, Stacie has extraordinary in-depth knowledge of our brands and markets, making her the natural successor to assume the direction of the organization,” Lutfy said. “I am looking forward to working with her in a capacity that allows her to take a bigger part in shaping the future of our organization.”
“I’m looking forward to continuing to deliver on innovation and best-in-class experiences for our consumer,” Beaver said in a statement.
The last senior-level executive appointment at Groupe Dynamite was in January 2024, when Jean-Philippe D. Lachance was named chief financial officer.
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