Comparing GLB to a bricks and mortar retailer is not right, completely different business models.
Retailers with a rollout strategy can scale very quickly and Culture Kings is a phenomenal brand, and has the ability to potentially get to 100+ stores across Australia, so a $600m valuation is probably expensive, but not outrageous.
For GLB, hopefully the right peer eventually is BRG. A global brand in the consumer discretionary biz.
GLB Price at posting:
$5.50 Sentiment: Buy Disclosure: Held
