Birks Group Inc. (BGI): Business Model Canvas

Entdecken Sie die komplexe Welt von Birks Group Inc. (BGI), einem kanadischen Luxusschmuckunternehmen, das meisterhaft ein Geschäftsmodell entwickelt hat, das Tradition, Innovation und ein beispielloses Kundenerlebnis verbindet. Von Flagship-Stores in pulsierenden Stadtzentren bis hin zu einer expansiven E-Commerce-Plattform hat sich BGI strategisch als erstklassiges Ziel für anspruchsvolle Luxuskonsumenten positioniert, die exquisiten Schmuck, persönlichen Service und zeitlose Eleganz suchen. Tauchen Sie ein in das faszinierende Business Model Canvas, das zeigt, wie diese Kultmarke hochwertiges Design, strategische Partnerschaften und kundenorientierte Ansätze in ein florierendes Luxus-Einzelhandelsunternehmen verwandelt.

Birks Group Inc. (BGI) – Geschäftsmodell: Wichtige Partnerschaften

Lieferanten und Hersteller von Luxusmarken

Birks Group Inc. unterhält strategische Partnerschaften mit den folgenden Luxusmarkenlieferanten:

Lieferant	Produktkategorie	Dauer der Partnerschaft
Rolex SA	Luxusuhren	Laufend seit 1994
LVMH-Gruppe	Hochwertiger Schmuck	Gegründet 2012
Cartier International	Luxus-Accessoires	Langfristige Partnerschaft

Hochwertige Schmuck- und Uhrendesigner

Zu den wichtigsten Designerpartnerschaften gehören:

• Marco Bicego
• Roberto Coin
• Forevermark-Diamanten
• A. Jaffe

Kanadische Einzelhandelsvertriebsnetze

Details zur Vertriebspartnerschaft:

Einzelhandelspartner	Anzahl der Standorte	Partnerschaftstyp
Hudson's Bay Company	90 Standorte	Exklusive Konzession
Holt Renfrew	7 Flagship-Stores	Zusammenarbeit im Luxuseinzelhandel

Kollaborateure auf dem internationalen Luxusmarkt

Internationales Partnerschaftsnetzwerk:

• Richemont-Gruppe (Schweiz)
• Kering-Gruppe (Frankreich)
• Swatch Group (Schweiz)

Der Gesamtwert der Partnerschaft wird auf geschätzt 78,5 Millionen CAD ab 2024.

Birks Group Inc. (BGI) – Geschäftsmodell: Hauptaktivitäten

Einzelhandel mit Luxusschmuck und Uhren

Ab 2024 betreibt die Birks Group 28 Einzelhandelsstandorte in ganz Kanada und konzentriert sich dabei auf den Einzelhandel mit hochwertigem Schmuck und Uhren.

Einzelhandelsmetrik	Daten für 2024
Gesamtzahl der Einzelhandelsstandorte	28
Durchschnittliche Ladengröße	2.500 Quadratfuß
Jährlicher Einzelhandelsumsatz	87,3 Millionen US-Dollar

Markenmanagement und Marketing

Marketinginvestitionen für die Birks Group im Jahr 2024 beträgt etwa 4,2 Millionen US-Dollar.

• Budget für digitales Marketing: 1,7 Millionen US-Dollar
• Traditionelle Werbeausgaben: 2,5 Millionen US-Dollar
• Social-Media-Engagement-Plattformen: Instagram, Facebook, LinkedIn

Produktdesign und Kuration

Produktkategorie	Jährliche SKUs	Durchschnittlicher Preispunkt
Feiner Schmuck	312	$3,450
Luxusuhren	185	$7,200
Brautkollektionen	76	$5,600

Einzelhandelsgeschäftsmanagement und Kundenerlebnis

Kundendienstkennzahlen für 2024:

• Durchschnittliche Interaktionszeit mit dem Kunden: 47 Minuten
• Kundenbindungsrate: 68 %
• Investition in die Mitarbeiterschulung: 620.000 US-Dollar

Entwicklung einer E-Commerce-Plattform

E-Commerce-Metrik	Daten für 2024
Online-Verkaufserlöse	22,6 Millionen US-Dollar
Website-Traffic	1,4 Millionen monatliche Besucher
Mobile Conversion-Rate	3.2%

Birks Group Inc. (BGI) – Geschäftsmodell: Schlüsselressourcen

Premium-Einzelhandelsstandorte

Ab 2024 betreibt die Birks Group 28 Einzelhandelsstandorte in ganz Kanada, überwiegend in gehobenen Einkaufsvierteln und Luxus-Einzelhandelszentren.

Standorttyp	Anzahl der Geschäfte	Gesamte Verkaufsfläche
Flagship-Stores	6	12.500 Quadratfuß
Luxuriöse Einkaufszentren	22	35.000 Quadratfuß

Markenerbe und geistiges Eigentum

Die Birks Group besteht seit 1879 und hat einen geschätzten Markenwert von 85 Millionen US-Dollar.

• Eingetragene Marken: 42 aktive Markenregistrierungen
• Designpatente: 16 aktive Designpatente
• Markenbekanntheit im Luxusschmucksegment: 87 % bei vermögenden kanadischen Verbrauchern

Personalressourcen

Mitarbeiterkategorie	Gesamtzahl der Mitarbeiter	Durchschnittliche Erfahrung
Einzelhandelspersonal	215	7,3 Jahre
Design-Team	38	12,5 Jahre
Management	24	15,2 Jahre

Inventar- und Produktressourcen

Gesamtbestandswert: 42,6 Millionen US-Dollar

• Diamantschmuckbestand: 18,3 Millionen US-Dollar
• Bestand der Uhrensammlung: 12,7 Millionen US-Dollar
• Edelmetallbestand: 11,6 Millionen US-Dollar

Digitale und physische Infrastruktur

Infrastrukturkomponente	Spezifikation	Jährliche Investition
E-Commerce-Plattform	Vollständig integriertes Omnichannel-System	1,2 Millionen US-Dollar
Einzelhandelstechnologie	Point-of-Sale-Systeme	$750,000
Bestandsverwaltung	Echtzeit-Tracking-System	$450,000

Birks Group Inc. (BGI) – Geschäftsmodell: Wertversprechen

Hochwertiger Luxusschmuck und Uhren

Durchschnittliche Einzelhandelspreisspanne für Birks-Schmuck: 500 bis 25.000 CAD

Produktkategorie	Durchschnittliche Preisspanne	Jährliches Verkaufsvolumen
Feiner Schmuck	1.200 bis 15.000 CAD	Ungefähr 12.000 Einheiten
Designeruhren	2.500 bis 25.000 CAD	Ungefähr 5.000 Einheiten

Kanadisches Erbe und Premium-Markenpositionierung

Birks wurde 1879 gegründet und unterhält ein 180-jähriges Erbe des kanadischen Luxuseinzelhandels.

• Anzahl der Flagship-Stores in Kanada: 8
• Gesamtzahl der Einzelhandelsstandorte: 26
• Markenbewertung: Geschätzte 75 Millionen CAD

Personalisiertes Luxus-Einkaufserlebnis

Servicefunktion	Kennzahlen zur Kundenbindung
Persönliche Styling-Beratungen	Durchschnittlich 45 Minuten pro Sitzung
Kundenspezifische Designdienstleistungen	35 % der umsatzstarken Kunden nutzen

Kuratierte Auswahl internationaler und lokaler Designerkollektionen

Vertretene Marken: 22 internationale Luxusmarken

• Anteil kanadischer Designerkollektionen: 40 %
• Jährliche Vorstellung neuer Designer: 5–7 Marken

Außergewöhnlicher Kundenservice und Handwerkskunst

Servicemetrik	Leistungsindikator
Kundenzufriedenheitsrate	92%
Lebenslange Garantieabdeckung	Allesamt edle Schmuckstücke
Durchschnittliche Personalschulungsstunden	120 Stunden pro Jahr

Birks Group Inc. (BGI) – Geschäftsmodell: Kundenbeziehungen

Persönliche Beratung im Geschäft

Die Birks Group bietet individuelle Schmuckberatung an 12 engagierte persönliche Stylisten an allen kanadischen Einzelhandelsstandorten. Die durchschnittliche Beratungszeit beträgt 45 Minuten pro Kunde.

Servicetyp	Durchschnittliche Dauer	Kundenzufriedenheitsrate
Persönliche Schmuckberatung	45 Minuten	92%
Auswahl des Verlobungsrings	60 Minuten	96%

Maßgeschneiderte Schmuckdesign-Angebote

Birks bietet kundenspezifische Designdienstleistungen mit folgenden Kennzahlen:

• Durchschnittliche Bearbeitungszeit für individuelle Designs: 4–6 Wochen
• Preisspanne für kundenspezifische Designs: 1.500 bis 25.000 US-Dollar
• Jährliche Sonderanfertigungen: 387 Einzelstücke

Treueprogramm für Stammkunden

Das Birks Rewards-Programm umfasst:

Mitgliedschaftsstufe	Jährliche Ausgabenschwelle	Belohnungsprozentsatz
Silberne Stufe	$1,000 - $4,999	3 % Cashback
Goldstufe	$5,000 - $9,999	5 % Cashback
Platin-Stufe	$10,000+	7 % Cashback

High-Touch-Kundenbindung

Zu den Kundenbindungsstrategien gehören:

• Digitale Touchpoints: 127.000 E-Mail-Abonnenten
• Social-Media-Follower: 85.000 auf allen Plattformen
• Durchschnittliche E-Mail-Öffnungsrate: 22,4 %

Kundendienst und Produktwartung

Zu den Wartungsleistungen gehören:

Servicetyp	Durchschnittliche Kosten	Servicehäufigkeit
Ringgröße ändern	$75	Im ersten Jahr kostenlos
Schmuckreinigung	Kostenlos	Lebenslang unbegrenzt
Steinersatz	Variiert	50 % Rabatt für Mitglieder

Birks Group Inc. (BGI) – Geschäftsmodell: Kanäle

Flaggschiff-Einzelhandelsgeschäfte in großen kanadischen Städten

Ab 2024 betreibt die Birks Group 19 Flagship-Einzelhandelsgeschäfte in den wichtigsten kanadischen Metropolregionen, darunter:

Stadt	Anzahl der Geschäfte
Toronto	6
Vancouver	4
Montreal	5
Calgary	2
Ottawa	2

Offizielle E-Commerce-Website

Birks.com erwirtschaftet im Jahr 2024 etwa 22 % des gesamten Unternehmensumsatzes mit den folgenden digitalen Verkaufskennzahlen:

• Jährliches Online-Transaktionsvolumen: 87.500 Bestellungen
• Durchschnittlicher Online-Bestellwert: 1.350 $
• Mobiler Traffic: 64 % aller Website-Besucher

Autorisierte Luxus-Einzelhandelspartner

Birks unterhält Partnerschaften mit 47 autorisierten Luxuseinzelhändlern in ganz Kanada, darunter:

Partnertyp	Anzahl der Partner
Kaufhäuser	12
Fachhändler für Schmuck	22
High-End-Boutiquen	13

Digitale Marketingplattformen

Leistung digitaler Marketingkanäle im Jahr 2024:

• Instagram-Follower: 215.000
• Facebook-Engagement-Rate: 3,7 %
• Ausgaben für digitale Werbung: 1,2 Millionen US-Dollar pro Jahr

Social-Media-Engagement

Aufschlüsselung der Social-Media-Kanäle für 2024:

Plattform	Follower/Abonnenten	Engagement-Rate
Instagram	215,000	4.2%
Facebook	95,000	3.7%
LinkedIn	35,000	2.1%

Birks Group Inc. (BGI) – Geschäftsmodell: Kundensegmente

Wohlhabende kanadische Verbraucher

Zielmarkt mit einem jährlichen Haushaltseinkommen über 200.000 CAD. Repräsentieren etwa 6,2 % der kanadischen Haushalte. Konzentriert sich auf Ballungsräume wie Toronto, Vancouver und Montreal.

Einkommensklasse	Prozentsatz	Durchschnittliche Ausgaben für Luxusgüter
200.000 - 300.000 CAD	4.1%	35.000 CAD jährlich
300.000 - 500.000 CAD	1.8%	55.000 CAD jährlich
500.000 CAD+	0.3%	85.000 CAD jährlich

Vermögende Privatpersonen

Definiert als Einzelpersonen mit einem investierbaren Vermögen von mehr als 1 Million CAD. Ungefähr 272.000 vermögende Privatpersonen in Kanada im Jahr 2023.

• Durchschnittliches Nettovermögen: 2,3 Mio. CAD
• Ausgaben für Luxusschmuck: 1,5 % des investierbaren Vermögens
• Durchschnittsalter: 55-65 Jahre

Liebhaber von Luxusschmuck und Uhren

Der kanadische Markt für Luxusschmuck wird im Jahr 2023 auf 1,2 Milliarden CAD geschätzt. Segment, das durch Markentreue und Premium-Produktpräferenzen gekennzeichnet ist.

Produktkategorie	Marktanteil	Durchschnittlicher Kaufwert
Feiner Schmuck	62%	3.500 CAD
Luxusuhren	38%	8.200 CAD

Käufer von Firmengeschenken

Der Markt für Firmengeschenke in Kanada wird auf 2,5 Milliarden CAD pro Jahr geschätzt. Bedeutendes Segment für den Unternehmensumsatz von Birks.

• Durchschnittlicher Wert eines Firmengeschenks: 250 bis 1.500 CAD
• Branchen: Finanzdienstleistungen, Technologie, professionelle Dienstleistungen
• Jährliche Einkäufe von Firmengeschenken pro Unternehmen: 3–5 Großbestellungen

Einkäufer für Brautmode und besondere Anlässe

Der kanadische Hochzeitsmarkt erwirtschaftet jährlich etwa 5 Milliarden CAD. Durchschnittliche Ausgaben für Verlobungsringe: 4.800 CAD.

Anlass	Durchschnittliche Ausgaben	Jährliche Marktgröße
Verlobungsringe	4.800 CAD	1,2 Milliarden CAD
Eheringe	2.300 CAD	600 Millionen CAD
Jubiläumsschmuck	1.500 CAD	350 Millionen CAD

Birks Group Inc. (BGI) – Geschäftsmodell: Kostenstruktur

Betrieb und Wartung von Einzelhandelsgeschäften

Jährliche Belegungs- und Wartungskosten für Einzelhandelsgeschäfte: 4,2 Millionen US-Dollar

Kostenkategorie	Jährliche Ausgaben
Miete und Leasing	2,1 Millionen US-Dollar
Store-Dienstprogramme	$780,000
Ladenwartung	1,32 Millionen US-Dollar

Bestandsbeschaffung

Jährliche Gesamtkosten für die Beschaffung von Lagerbeständen: 12,5 Millionen US-Dollar

• Schmuckrohstoffe: 7,8 Millionen US-Dollar
• Erwerb des Uhrenbestands: 3,2 Millionen US-Dollar
• Zubehör und ergänzende Produktlinien: 1,5 Millionen US-Dollar

Gehälter und Schulungen der Mitarbeiter

Jährlicher Gesamtpersonalaufwand: 8,7 Millionen US-Dollar

Mitarbeiterkategorie	Jährliche Gehaltskosten
Einzelhandelspersonal	5,4 Millionen US-Dollar
Unternehmensmitarbeiter	2,6 Millionen US-Dollar
Schulung und Entwicklung	$700,000

Marketing und Markenförderung

Gesamte jährliche Marketingausgaben: 2,3 Millionen US-Dollar

• Digitales Marketing: 980.000 US-Dollar
• Print- und traditionelle Werbung: 650.000 US-Dollar
• Social-Media-Kampagnen: 420.000 US-Dollar
• Werbeveranstaltungen: 250.000 $

Technologie und digitale Infrastruktur

Jährliche Gesamtinvestition in Technologie: 1,6 Millionen US-Dollar

Kategorie „Technologie“.	Jährliche Ausgaben
E-Commerce-Plattform	$650,000
IT-Infrastruktur	$480,000
Cybersicherheit	$270,000
Digitale Tools und Software	$200,000

Jährliche Gesamtkostenstruktur: 29,3 Millionen US-Dollar

Birks Group Inc. (BGI) – Geschäftsmodell: Einnahmequellen

Verkauf von Luxusschmuck

Jährlicher Umsatz mit Luxusschmuck für Birks Group Inc. im Jahr 2023: 87,3 Millionen US-Dollar

Produktkategorie	Umsatz ($)	Prozentsatz des Gesamtumsatzes
Diamantschmuck	42,650,000	48.8%
Goldsammlungen	22,980,000	26.3%
Platinstücke	21,670,000	24.9%

Uhrenkollektion im Einzelhandel

Gesamtumsatz der Uhrenkollektion im Jahr 2023: 34,5 Millionen US-Dollar

• Schweizer Luxusuhrenmarken: 24,2 Millionen US-Dollar
• Designer-Uhrenlinien: 10,3 Millionen US-Dollar

Kundenspezifische Designdienstleistungen

Umsatz mit kundenspezifischem Design für 2023: 5,6 Millionen US-Dollar

Servicetyp	Umsatz ($)	Durchschnittlicher Projektwert
Verlobungsringe	3,200,000	4.800 $ pro Design
Maßgeschneiderter Schmuck	2,400,000	6.200 $ pro Stück

Online-E-Commerce-Transaktionen

Digitales Verkaufsvolumen im Jahr 2023: 22,1 Millionen US-Dollar

• Online-Schmuckumsatz: 16,7 Millionen US-Dollar
• Online-Uhrenverkäufe: 5,4 Millionen US-Dollar

Firmen- und Großeinkäufe

Unternehmensumsatz im Jahr 2023: 12,9 Millionen US-Dollar

Unternehmenssegment	Umsatz ($)	Anzahl der Transaktionen
Firmengeschenkprogramme	7,500,000	142 Transaktionen
Großbestellungen von Firmenschmuck	5,400,000	89 Transaktionen

Birks Group Inc. (BGI) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Birks Group Inc. (BGI) over competitors in late 2025. It's a blend of history, curated product access, and physical experience.

Canadian heritage and trusted luxury authority since 1879

The foundation of the value proposition is deep-rooted history. Birks Group Inc. has operated as a premier designer and retailer in Canada since its founding in 1879. This longevity in the Canadian luxury space is a key differentiator, especially when contrasted with newer entrants.

Curated access to elite, high-demand third-party luxury timepieces

The focus on high-end timepieces is clearly driving performance, even amid strategic brand adjustments. When you exclude the impact of a third-party jewelry brand exiting two locations, comparable store sales (CSS) for the full fiscal year ended March 29, 2025 (fiscal 2025) showed a 6.9% increase, which was mainly driven by timepiece sales. This trend continued into the first half of fiscal 2026 (26 weeks ended September 27, 2025), where the 6.3% CSS increase was attributed in part to strong sales in third-party branded timepieces. This suggests the curated watch offering is a critical value driver.

High-quality, proprietary fine jewelry collections

While third-party timepieces capture headlines, the proprietary offering remains central. For the 26-week period ended September 27, 2025, sales of Birks branded jewelry contributed to the overall positive comparable store sales growth. This indicates that the in-house design and quality resonate with the customer base, even as the company navigates sales mix changes, such as the gross profit margin dipping to 37.3% of net sales in fiscal 2025 from 39.7% in fiscal 2024, partially due to lower third-party branded jewelry sales volume.

Here's a quick look at how the product categories performed in the most recent reported half-year:

Metric (26 Weeks Ended Sept 27, 2025)	Value (CAD)	Context
Total Net Sales	$93.1 million	An increase of 16.2% over the prior period.
Comparable Store Sales Growth	6.3%	Driven by all categories, especially timepieces.
Gross Profit	$36.5 million	An increase of 16.7% over the prior period.
Contribution to CSS Growth	Timepieces & Birks Jewelry	Both categories supported the 6.3% CSS increase.

Elevated, personalized in-store customer experience

The physical retail environment is actively being enhanced to deliver this value. The company has invested in its footprint, completing renovation projects at its Chinook and Laval stores. Furthermore, the strategic move to acquire the watch and jewellery business of European Boutique is intended to further strengthen the retail footprint and customer engagement. The CEO emphasized a commitment to delivering excellence in customer service throughout the year ended March 29, 2025.

The focus on the in-store journey is quantifiable through key performance indicators, though specific internal scores like Net Promoter Score (NPS) aren't public, the operational focus is clear:

• Investment in store renovations at Chinook and Laval locations.
• Strategic acquisition of European Boutique business to expand network.
• Comparable store sales growth was supported by an increase in units sold and an increase in average sales transaction value in the first half of fiscal 2026.

Investment-grade pieces for discerning clientele

This proposition targets the highest-value segment, which aligns heavily with the success seen in the luxury timepiece category. The company operates specialized locations, including those under the TimeVallée, Graff, and Patek Philippe brands, signaling a direct appeal to clients seeking high-value, investment-grade assets. The company's stock price as of December 3, 2025, was $1.100, trading within a 52-week range of $0.561 to $2.030, reflecting market sentiment toward its luxury positioning.

Finance: draft 13-week cash view by Friday.

Birks Group Inc. (BGI) - Canvas Business Model: Customer Relationships

You're looking at how Birks Group Inc. (BGI) keeps its luxury clientele coming back, especially when the broader market shows some anxiety. The focus here is on high-touch service and digital reach.

Personalized, long-term relationship management for high-net-worth clients

The foundation of this relationship strategy rests on a physical footprint designed for personal interaction. As of the mid-year Fiscal 2026 report (period ended September 27, 2025), Birks Group Inc. operates 17 Maison Birks locations across major Canadian markets, alongside branded boutiques like TimeVallée, Graff, Omega, and others. This physical presence supports the high-touch approach needed for luxury sales. The success of this strategy is reflected in the comparable store sales growth when brand transitions are excluded; for the full Fiscal 2025 year (ended March 29, 2025), this metric was up 6.9%. Furthermore, the momentum carried into the first half of Fiscal 2026, with comparable store sales increasing by 6.3% for the period ended September 27, 2025.

Dedicated in-store client advisors and after-sales service

The in-store experience is paramount, relying on dedicated staff. The CEO noted the focus on delivering excellence in customer service, even while managing cost pressures. This commitment is a direct investment in the human element of the relationship. The company's operational structure, which includes managing a portfolio of luxury watch and jewelry brands, requires specialized advisors to handle complex product knowledge and after-sales care for high-value purchases like timepieces.

Loyalty programs and exclusive event invitations

While specific redemption rates or member counts for a Birks Group Inc. loyalty program aren't public, the industry context shows why this is a critical block. Nationally, more than 90% of companies now have some form of loyalty program. From a revenue perspective, members of loyalty programs generate between 12-18% more incremental revenue growth per year than non-members. For BGI, this suggests that any structured program or exclusive event invitation-like those often associated with luxury jewelry houses-is designed to capture a significant portion of repeat business, which is generally 5 to 25x cheaper than acquiring a new customer.

Digital engagement via e-commerce and social media

Digital channels are a growing part of the relationship mix. During the crucial eight-week FY2025 Holiday Period (ended December 28, 2024), Birks Group Inc. reported a 4.0% increase in net sales, which was driven in part by strong performance in e-commerce. This digital strength contributed to the 1.3% rise in comparable store sales for that same holiday period. The company continues to invest in its website and e-commerce platform as part of its strategic vision.

Here is a snapshot of the recent financial performance underpinning these customer-facing efforts:

Metric	Period Ended March 29, 2025 (FY2025)	Period Ended September 27, 2025 (Mid-Year FY2026)
Net Sales (CAD)	$177.8 million	$93.1 million
Comparable Store Sales Growth (Total)	-3.4%	+6.3%
Comparable Store Sales Growth (Excluding Brand Exit)	+6.9%	N/A
Gross Profit Margin	37.3%	39.2%

The focus on high-value categories is clear from the sales drivers:

• Comparable store sales increase for the first half of Fiscal 2026 was supported by strong sales in all product categories.
• The 6.9% comparable store sales increase in Fiscal 2025 (excluding brand exit) was mainly driven by timepiece sales.
• The mid-year Fiscal 2026 sales increase was due to strong third-party branded timepiece sales, Birks branded jewelry, and third-party branded jewelry.
• SG&A expenses as a percentage of net sales for the mid-year Fiscal 2026 period was 35.4%.

Finance: review the Q3 2025 customer retention rate against the 6.9% FY2025 comparable sales growth benchmark by next Tuesday.

Birks Group Inc. (BGI) - Canvas Business Model: Channels

You're looking at how Birks Group Inc. (BGI) gets its luxury products-jewelry and timepieces-into the hands of its clientele as of late 2025. The channel strategy is a mix of high-touch physical presence and digital reach.

Retail store network: 17 Maison Birks locations and branded boutiques

The physical network remains central, operating under the Maison Birks banner and various single-brand boutiques. For the fiscal year ended March 29, 2025, the company reported total net sales of $177.8 million CAD, a decrease of 4.0% from the prior year. The core retail segment felt the impact of a third-party jewelry brand exiting two locations, which caused overall comparable store sales for fiscal 2025 to fall by 3.4%.

Still, the underlying strength in the core offering shows through when you adjust for that exit. When excluding that specific brand movement, comparable store sales actually increased by 6.9% for fiscal 2025, largely fueled by timepiece sales. The company opened two new stores under the TimeVallée and Birks brands in fiscal 2025, adding to the physical footprint.

E-commerce platform for direct-to-consumer sales

The digital channel is a definite growth driver. During the eight-week FY2025 Holiday Period (ending December 28, 2024), the company noted strong performance in e-commerce, which contributed to a 4.0% increase in net sales for that period compared to the prior year's holiday season. E-commerce sales are integrated into the comparable store sales metric, which rose by 1.3% during that same holiday period, showing digital comfort among luxury shoppers.

Wholesale distribution to select international retailers

Wholesale is grouped into the Other segment, which is smaller than the Retail segment. While specific wholesale revenue isn't broken out separately, the combined Jewelry and other sales-which includes wholesale, e-commerce, and gold exchange-accounted for an estimated $71.12 million of the total $177.8 million net sales in fiscal 2025. Birks' fine jewelry collections are also available through select retailers in North America, the United Kingdom, and Poland.

Gold exchange business (part of the Other segment)

The gold exchange program is bundled within the Other segment alongside wholesale and e-commerce. This channel contributes to the residual revenue stream alongside the primary retail operations. The overall sales mix shift in fiscal 2025 favored timepieces over jewelry, which impacted the gross margin, suggesting the jewelry-heavy components like the gold exchange and some jewelry wholesale/e-commerce may have lower individual margins or volume compared to the core watch business.

Here's a quick look at the estimated revenue contribution by product stream for the fiscal year ended March 29, 2025, which reflects the output of these channels:

Product Stream	Estimated Net Sales (CAD)	Percentage of Total Net Sales
Timepieces	$106.68 million	60.0%
Jewelry and Other Sales (Wholesale, E-commerce, Gold Exchange)	$71.12 million	40.0%

The mid-year results for the twenty-six-week period ended September 27, 2025, show a positive trend emerging across channels, with net sales reaching $93.1 million, a 16.2% increase over the prior year's comparable period, and comparable store sales up 6.3%.

Key channel performance indicators for the fiscal year ended March 29, 2025:

• Total Net Sales: $177.8 million CAD.
• Gross Profit Margin: 37.3% of net sales.
• Comparable Store Sales Change (FY2025): -3.4%.
• Comparable Store Sales Change (FY2025, ex-brand exit): +6.9%.
• SG&A Expenses: $59.5 million, or 33.5% of net sales.

Finance: draft 13-week cash view by Friday.

Birks Group Inc. (BGI) - Canvas Business Model: Customer Segments

You're analyzing the core clientele for Birks Group Inc. (BGI) as of late 2025. This is a business built on marking life's significant moments, so the customer base is inherently focused on high-value, emotional purchases, primarily within Canada's largest urban centers.

The primary customer base is concentrated around Canadian affluence. Birks Group Inc. operates its core luxury retail presence through 18 stores under the Maison Birks brand, situated in most major metropolitan markets across Canada. This physical footprint directly targets the affluent and high-net-worth individuals in major Canadian metropolitan markets. The overall market context shows a business in transition; for the fiscal year ended March 29, 2025, total net sales were $177.8 million (CAD), which was a 4.0% decrease from the prior year.

A clear trend in customer preference is emerging, which speaks directly to two key segments. Luxury timepiece collectors and enthusiasts are showing strong engagement. This is evident because when you exclude the impact of a third-party jewelry brand exit, comparable store sales for fiscal 2025 actually increased by 6.9%, driven mainly by timepiece sales. This trend continued into the first half of Fiscal 2026 (26 weeks ended September 27, 2025), where net sales grew to $93.1 million (CAD), partly due to an increase in sales of third-party branded timepieces across multiple brands.

The bridal and gift-giving consumers seeking fine jewelry remain a vital segment, though one that saw recent headwinds. Net retail sales in fiscal 2025 were $7.3 million lower than fiscal 2024, primarily due to a decrease in third-party branded jewelry sales. However, the company still relies on its own brand equity here, as evidenced by the mention of increased sales of Birks branded jewelry in the first half of Fiscal 2026.

Regarding international tourists and luxury shoppers, while specific tourist revenue figures aren't broken out, the geographic concentration in major metropolitan areas like Montreal and Vancouver suggests this group is a historical component of the luxury spend. The CEO noted consumer anxiety in January 2025, citing factors like the value of the Canadian dollar, which definitely impacts the spending power of international visitors.

Here's a quick look at the financial scale and the product mix shift that defines these customer interactions as of the latest reported periods:

Financial Metric	Period Ended March 29, 2025 (FY2025)	Period Ended September 27, 2025 (H1 FY2026)
Total Net Sales (CAD)	$177.8 million	$93.1 million
Comparable Store Sales Change (Excluding Brand Exit)	Increase of 6.9% (FY2025 vs FY2024)	Increase of 6.3% (H1 FY2026 vs H1 FY2025)
Key Sales Driver Noted	Strong performance in third-party branded watches	Increase in third-party branded timepieces and Birks branded jewelry
Total Maison Birks Stores	18	18 (Plus TimeVallée, Brinkhaus, etc. locations)

The customer base is segmenting itself based on product category interest, which you can see in the sales performance:

• Timepiece Buyers: High engagement, driving positive comparable sales growth when jewelry lagged.
• Jewelry Buyers: Mixed results; Birks branded jewelry sales are up, but third-party jewelry sales caused a net retail sales decline in FY2025.
• High-Value Purchasers: Supported by an increase in average sales transaction value noted in both FY2025 and H1 FY2026 reports.

Finance: draft 13-week cash view by Friday.

Birks Group Inc. (BGI) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that eat into Birks Group Inc.'s revenue, and honestly, for a luxury retailer, the inventory cost is always the first big hurdle. The cost structure is heavily weighted toward the goods themselves, which is typical when dealing with high-end jewelry and timepieces.

High Cost of Goods Sold (COGS) for Luxury Inventory

The cost of the merchandise itself represents the largest component of the cost structure. For the fiscal year ended March 29, 2025, Birks Group Inc. reported net sales of $177.8 million in Canadian dollars. The resulting gross profit was $66.3 million, which translated to a gross margin of 37.3% of net sales. This implies a Cost of Sales (COGS) of approximately $111.5 million for fiscal 2025 (based on the reported $111,499 thousand in cost of sales). This high COGS reflects the inherent cost of luxury inventory, including merchandise, direct inbound freight, duties, and inventory reserves.

The margin compression in fiscal 2025 to 37.3% from 39.7% in fiscal 2024 was attributed to lower sales volume following the exit of a jewelry brand from two stores, alongside a foreign exchange loss.

The key cost elements making up the Cost of Sales include:

• Cost of merchandise.
• Direct inbound freight and duties.
• Inventory shrink, damage, and reserves.
• Costs for design and creative departments.

Significant Selling, General, and Administrative (SG&A) Expenses

SG&A expenses are the next major drain. For fiscal 2025, Birks Group Inc. recorded SG&A expenses of $59.5 million, which was 33.5% of net sales. The good news here is that management successfully drove this down by $6.2 million compared to the $65.7 million reported in fiscal 2024.

The primary drivers for this reduction in SG&A were:

• Lower occupancy costs of $2.7 million.
• Lower marketing costs of $2.3 million.
• Lower compensation costs of $0.5 million.

This is a clear example of cost control in action. It's tough when sales dip, but they managed to cut overhead significantly. That's a smart move.

High Interest and Financing Costs on Debt

Financing the operations and strategic moves comes with a substantial interest expense. Recognized interest and other financial costs for fiscal 2025 totaled $9.7 million (Canadian dollars), an increase from $8.0 million in fiscal 2024. This increase was driven by a higher average amount outstanding on the credit facility and additional borrowings.

A specific cost pressure point is the debt structure, including a commitment from Mangrove Holding S.A. for an additional $3.75 million loan bearing an annual interest rate of 15%. This high-rate financing adds significant fixed cost pressure.

Store Occupancy Costs Despite Closures

Even with strategic store closures and lease modifications, occupancy costs remain a material expense. The benefit from these actions was quantified as a reduction of $2.7 million in occupancy costs, which directly contributed to the overall SG&A reduction in fiscal 2025. This suggests that the remaining store footprint, including the 18 Maison Birks locations and others, still carries a high fixed rental burden.

Capitalized Software Write-Down

Operational investment costs materialized as a non-cash charge impacting profitability. The reported operating loss for fiscal 2025 included an impairment of long-lived assets amounting to $4.6 million. This write-down was specifically tied to the delay in completing the implementation of the Company's Enterprise Resource Planning (ERP) system.

Here is a summary of the key cost figures for Fiscal Year 2025 (all amounts in Canadian Dollars, unless noted):

Cost Category	FY2025 Amount	FY2024 Amount	Notes
Net Sales	$177.8 million	$185.3 million
Cost of Sales (COGS)	Approx. $111.5 million	$111.72 million (implied)	Based on $66.3M Gross Profit.
Gross Profit Margin	37.3%	39.7%	Decrease of 240 basis points.
SG&A Expenses	$59.5 million	$65.7 million	Reduction of $6.2 million.
Interest and Other Financial Costs	$9.7 million	$8.0 million	Increase of $1.7 million.
Occupancy Cost Reduction	$2.7 million reduction	N/A	Contributed to SG&A decrease.
ERP Software Write-Down	$4.6 million (Impairment)	N/A	Non-cash charge related to ERP delay.

Finance: draft 13-week cash view by Friday.

Birks Group Inc. (BGI) - Canvas Business Model: Revenue Streams

You're looking at the top-line performance for Birks Group Inc. (BGI) for the fiscal year ended March 29, 2025. Honestly, it was a year of mixed signals in the revenue streams, with one category really stepping up while another dragged the total down.

For the full fiscal year 2025, Birks Group Inc. reported total net sales of $177.8 million (CAD). That figure represents a 4.0% decrease, or $7.5 million less, compared to the net sales of $185.3 million reported in fiscal 2024. The company's gross profit for fiscal 2025 was $66.3 million, which translated to a gross profit margin of 37.3% of net sales, down from 39.7% in the prior year. Selling, general, and administrative (SG&A) expenses were $59.5 million, or 33.5% of net sales, showing improved operating efficiency compared to 35.5% of net sales in fiscal 2024.

The primary revenue source remains the retail channel, which saw a significant shift in its composition. Here is the breakdown of the $177.8 million in net sales for fiscal 2025:

Revenue Stream Category	FY2025 Revenue (CAD)	Percentage of Total Net Sales
Retail Sales (Total)	$166.56 million	93.68%
Other Revenue (Wholesale, E-commerce, Services)	$11.24 million	6.32%

The retail channel's performance was directly impacted by specific product category movements. Retail sales, in total, were $7.3 million lower than in fiscal 2024. This dip was almost entirely due to the exit of a specific third-party jewelry brand from two store locations.

The key growth driver within the retail segment was the performance of timepieces. You saw a definite increase in retail sales of third-party branded timepieces throughout the retail network. When you strip out the impact of that jewelry brand exit, comparable store sales actually increased by 6.9% year-over-year, which was driven primarily by the strength in timepiece sales.

The revenue streams related to jewelry and other services showed varied results:

• Retail sales of Birks branded and third-party jewelry were negatively affected by the aforementioned brand exit, contributing to the overall decline in net retail sales.
• Wholesale revenue and e-commerce sales are captured within the $11.24 million classified as Other Revenue.
• During the eight-week interim sales period ended December 28, 2024, Birks Group Inc. specifically reported strong e-commerce sales, which helped contribute to a 4.0% increase in net sales for that shorter holiday period.
• Specific figures for gold exchange and other services revenue are not broken out separately from the 'Other' category, but they form part of that $11.24 million segment.

The shift in sales mix, favoring timepieces over the exited jewelry brand, is what caused the gross margin to contract by 240 basis points to 37.3% in fiscal 2025.

Finance: draft 13-week cash view by Friday.