Designer Brands Inc. (DBI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Designer Brands Inc. (DBI) ha revolucionado el panorama minorista de calzado al crear un modelo de negocio dinámico que combina las asociaciones estratégicas sin problemas, los canales digitales innovadores y un enfoque centrado en el cliente. Al aprovechar una red expansiva de tiendas minoristas, plataformas de comercio electrónico de vanguardia y una cartera de marca diversa, DBI se ha posicionado como una potencia en el calzado de moda asequible, dirigido a consumidores conscientes de la moda a través de múltiples demografía con precios competitivos y experiencias de compras personalizadas que trascienden las fronteras minoristas tradicionales.

Designer Brands Inc. (DBI) - Modelo de negocios: asociaciones clave

Fabricantes de calzado y ropa en Asia

Designer Brands Inc. mantiene asociaciones de fabricación en múltiples países asiáticos:

País	Número de socios manufactureros	Volumen de producción anual
Porcelana	12	8.4 millones de pares de zapatos
Vietnam	7	5.2 millones de pares de zapatos
Indonesia	5	3.1 millones de pares de zapatos

Socios minoristas al por mayor

Las asociaciones mayoristas clave incluyen:

• DSW: 513 ubicaciones minoristas
• Calzado famoso: 885 ubicaciones minoristas
• RACK ROOM ZAPATOS: 470 Ubicaciones minoristas

Proveedores de tecnología de la plataforma de comercio electrónico

Proveedor de tecnología	Servicios	Valor anual del contrato
Salesforce Commerce Cloud	Plataforma de comercio electrónico	$ 2.4 millones
Plataforma de experiencia de Adobe	Integración de marketing digital	$ 1.8 millones

Agencias de marketing y publicidad

Detalles de la asociación de marketing:

• Omnicom Group: contrato de marketing anual de $ 5.6 millones
• WPP PLC: $ 4.2 millones de servicios de publicidad digital

Proveedores de servicios de cadena de suministro y logística

Proveedor de logística	Servicios	Valor anual del contrato
Soluciones de cadena de suministro de UPS	Almacenamiento y distribución	$ 12.3 millones
Logística de FedEx	Transporte y cumplimiento	$ 9.7 millones

Designer Brands Inc. (DBI) - Modelo de negocio: actividades clave

Zapatería minorista y distribución de accesorios

Designer Brands Inc. opera 548 tiendas de zapatos DSW en los Estados Unidos a partir del cuarto trimestre de 2023. El volumen anual de distribución minorista alcanzó 52.3 millones de pares de zapatos en 2023.

Canal de distribución	Número de tiendas	Volumen de ventas anual
Tiendas de DSW	548	52.3 millones de pares
Minorista en línea	1 plataforma de comercio electrónico	18.7 millones de pares

Gestión de cartera de marca

Las marcas de diseñadores manejan múltiples marcas de calzado y accesorios que incluyen:

• DSW
• Grupo de camuto
• Grupo de cartera de marca

Operaciones minoristas omnicanal

Las ventas digitales representaron el 30.2% de los ingresos totales en 2023, por un total de $ 824.6 millones. La estrategia omnicanal integrada incluye:

• Recogida en la tienda
• Pedidos en línea
• Integración de aplicaciones móviles

Diseño y abastecimiento de productos

Presupuesto anual de abastecimiento de productos: $ 675.2 millones. Abastecimiento de 127 fabricantes internacionales en 12 países.

Región de abastecimiento	Número de fabricantes	Porcentaje de abastecimiento total
Asia	84	62%
Sudamerica	23	18%
Europa	20	16%

Marketing digital y compromiso del cliente

Gastos de marketing en 2023: $ 94.3 millones. Los canales de marketing digital incluyen:

• Publicidad en las redes sociales
• Campañas de marketing por correo electrónico
• Promociones del programa de fidelización

Membresía del programa de fidelización: 29.6 millones de miembros activos a diciembre de 2023.

Designer Brands Inc. (DBI) - Modelo de negocio: recursos clave

Extensa red de tiendas minoristas

A partir del cuarto trimestre de 2023, Designer Brands Inc. opera 879 tiendas DSW en los Estados Unidos. La huella total de la tienda minorista incluye:

Tipo de tienda	Número de ubicaciones
Tiendas de DSW	879
Puntos minoristas del Grupo Camuto	47

Cartera de marca fuerte

Designer Brands Inc. administra múltiples marcas minoristas con una importante presencia en el mercado:

• Almacén de zapatos de diseñador de DSW
• Grupo de camuto
• Marcas conjuntas de la empresa

Infraestructura de comercio digital

Rendimiento de ventas digitales para 2023:

Métrica de ventas digitales	Valor
Ingresos por comercio electrónico	$ 632.4 millones
Crecimiento de las ventas digitales	8.3%

Sistemas de gestión de inventario

Métricas de inventario para el año fiscal 2023:

Métrico de inventario	Valor
Valor de inventario total	$ 1.2 mil millones
Relación de rotación de inventario	4.2x

Equipo de gestión minorista experimentado

Detalles clave del liderazgo:

• Roger Rawlins - Director Ejecutivo
• Jared Poff - Director Financiero
• Promedio de tenencia ejecutiva: 8.5 años

Designer Brands Inc. (DBI) - Modelo de negocio: propuestas de valor

Amplia gama de calzado de moda asequible

Designer Brands Inc. reportó $ 3.14 mil millones en ingresos totales para el año fiscal 2023, con calzado que representa el 68% de las ventas. El precio promedio de los zapatos oscila entre $ 49.99 y $ 129.99.

Categoría de productos	Porcentaje de ingresos	Rango de precios promedio
Calzado de mujeres	42%	$59.99 - $99.99
Calzado para hombres	26%	$69.99 - $129.99

Selección de marca diversa

DBI tiene más de 50 marcas diferentes en múltiples segmentos de clientes.

• Marcas de diseñador
• Marcas contemporáneas
• Calzado atlético
• Marcas casuales de estilo de vida

Experiencias de compra convenientes

A partir del cuarto trimestre de 2023, DBI opera 512 tiendas minoristas y genera el 35% de las ventas a través de la plataforma de comercio electrónico.

Estrategias de precios competitivos

El margen bruto para el año fiscal 2023 fue del 40,2%, con un marcado de producto promedio de 2.5x costo de fabricación.

Recomendaciones personalizadas de clientes

El programa de lealtad digital incluye 2.3 millones de miembros activos, generando el 47% de los ingresos anuales totales a través de canales de comercialización personalizados.

Segmento de clientes	Penetración del programa de fidelización	Gasto anual promedio
Millennials	55%	$387
Gen Z	38%	$276

Designer Brands Inc. (DBI) - Modelo de negocios: relaciones con los clientes

Membresías del programa de fidelización

A partir del cuarto trimestre de 2023, Designer Brands Inc. reportó 7.2 millones de miembros del programa de lealtad activo. El programa de lealtad VIP DSW generó $ 342 millones en ingresos durante el año fiscal 2023. Los miembros representan el 68% de las ventas totales de la compañía.

Métrica del programa de fidelización	2023 datos
Totales miembros activos	7,200,000
Ingresos del programa de fidelización	$342,000,000
Porcentaje de ventas de los miembros	68%

Marketing por correo electrónico personalizado

Designer Brands Inc. mantiene una base de datos de correo electrónico de 12.5 millones de suscriptores. La compañía informa una tasa de apertura de correo electrónico promedio del 22.4% y una tasa de clics del 3.7%.

Métrica de marketing por correo electrónico	2023 datos
Suscriptores totales de correo electrónico	12,500,000
Tarifa de apertura de correo electrónico	22.4%
Tasa de clics	3.7%

Compromiso de aplicaciones móviles

La aplicación móvil DSW se ha descargado 4.3 millones de veces. Los usuarios mensuales activos alcanzaron 1.2 millones en 2023, con una duración de sesión promedio de 6.5 minutos.

• Descargas totales de aplicaciones: 4,300,000
• Usuarios activos mensuales: 1,200,000
• Duración promedio de la sesión: 6.5 minutos

Apoyo al cliente

Designer Brands Inc. opera centros de servicio al cliente que manejan 2,1 millones de interacciones con el cliente anualmente. El tiempo de respuesta promedio es de 37 minutos a través del teléfono, el correo electrónico y los canales de chat.

Métrica de servicio al cliente	2023 datos
Interacciones anuales del cliente	2,100,000
Tiempo de respuesta promedio	37 minutos

Plataformas de interacción en las redes sociales

Designer Brands Inc. mantiene una presencia en las redes sociales con 3.6 millones de seguidores en todas las plataformas. Instagram genera el mayor compromiso, con un promedio de 125,000 me gusta por publicación.

• Total de seguidores de las redes sociales: 3,600,000
• Publicación promedio de Instagram me gusta: 125,000

Designer Brands Inc. (DBI) - Modelo de negocio: canales

Tiendas minoristas físicas (DSW)

A partir del cuarto trimestre de 2023, Designer Brands Inc. opera 548 tiendas minoristas de DSW en los Estados Unidos.

Tipo de tienda	Número de ubicaciones	Tamaño promedio de la tienda
Tiendas minoristas de DSW	548	12,000 pies cuadrados.

Sitios web de comercio electrónico

DSW.com generó $ 948.3 millones en ingresos por ventas en línea en el año fiscal 2023.

Canal en línea	Ingresos anuales en línea	Porcentaje de ingresos totales
DSW.com	$ 948.3 millones	29.4%

Aplicaciones de compras móviles

Las descargas de aplicaciones móviles de DSW alcanzaron 4.2 millones de usuarios en 2023.

• Aplicación móvil Usuarios activos mensuales: 1.8 millones
• Tasa promedio de conversión de aplicaciones móviles: 3.6%
• Contribución de ventas de aplicaciones móviles: $ 215.6 millones

Plataformas de redes sociales

Las marcas de diseño aprovechan múltiples canales de redes sociales para la participación del cliente.

Plataforma	Seguidores/suscriptores	Tasa de compromiso
Instagram	1.2 millones	2.8%
Facebook	890,000	1.9%
Tiktok	350,000	4.2%

Redes de distribución al por mayor

Las marcas de diseñadores distribuyen productos a través de múltiples canales mayoristas.

• Número de socios mayoristas: 127
• Ingresos al por mayor: $ 276.5 millones en 2023
• Porcentaje de ingresos totales de mayoristas: 8.6%

Designer Brands Inc. (DBI) - Modelo de negocios: segmentos de clientes

Millennials conscientes de la moda

A partir de 2023, Designer Brands Inc. se dirige a 35.2 millones de consumidores milenarios de 25 a 40 años. Gasto promedio de calzado anual por milenio: $ 386. Penetración del mercado en este segmento: 22.7%.

Rango de edad	Población total	Mercado objetivo	Gasto promedio
25-40 años	35,200,000	7,990,400	$386

Compradores de zapatos conscientes del presupuesto

El segmento representa el 41.5% de la base de clientes de DBI. Punto de precio promedio: $ 59.99. Ingresos anuales de este segmento: $ 214.6 millones.

• Ingresos familiares promedio: $ 52,000
• Rango de sensibilidad de precios: $ 40- $ 80
• Tasa de conversión: 18.3%

Adultos profesionales que trabajan

Demográfico objetivo: 28.6 millones de profesionales. Compra media de calzado anual: $ 425. Cuota de mercado en el calzado profesional: 16.5%.

Categoría profesional	Población total	Compra anual promedio
Profesionales corporativos	28,600,000	$425

Seguimiento de tendencia a los consumidores más jóvenes

Rango de edad 18-24 años. Mercado total direccionable: 22.4 millones. Tasa de compromiso de las redes sociales: 37.6%. Gasto anual en calzado: $ 276.

• Seguidores de Instagram: 1.2 millones
• Compromiso de tiktok: 890,000 seguidores
• Porcentaje de compra en línea: 64.3%

Compradores familiares y grupales

El segmento familiar representa el 27.8% de la base total de clientes. Compra promedio de zapatos familiares: $ 312. Frecuencia de compra de varias personas: 4.2 veces anualmente.

Tamaño familiar	Frecuencia de compra	Gasto promedio
3-4 miembros	4.2 veces/año	$312

Designer Brands Inc. (DBI) - Modelo de negocio: Estructura de costos

Gastos operativos de la tienda minorista

Para el año fiscal 2023, Designer Brands Inc. reportó gastos totales de ocupación de la tienda de $ 180.3 millones. Esto incluye:

Categoría de gastos	Monto ($)
Gastos de alquiler y arrendamiento	112.5 millones
Utilidades	37.8 millones
Mantenimiento de la tienda	30.0 millones

Costos de adquisición de inventario

Los gastos relacionados con el inventario para 2023 totalizaron $ 495.6 millones, con el siguiente desglose:

• Costo de bienes vendidos (COGS): $ 442.3 millones
• Transporte de inventario: $ 31.2 millones
• Sistemas de gestión de inventario: $ 22.1 millones

Salarios y beneficios de los empleados

Los gastos totales relacionados con los empleados para 2023 fueron de $ 338.7 millones:

Categoría de compensación	Monto ($)
Salarios base	245.6 millones
Beneficios de atención médica	52.3 millones
Planes de jubilación	40.8 millones

Gastos de marketing y publicidad

Gasto total de marketing para 2023: $ 87.5 millones, desglosado de la siguiente manera:

• Marketing digital: $ 42.3 millones
• Publicidad tradicional: $ 28.7 millones
• Campañas de redes sociales: $ 16.5 millones

Tecnología e inversiones en infraestructura digital

Los gastos relacionados con la tecnología para 2023 ascendieron a $ 63.2 millones:

Categoría de inversión tecnológica	Monto ($)
Plataforma de comercio electrónico	24.6 millones
Infraestructura	22.8 millones
Ciberseguridad	15.8 millones

Designer Brands Inc. (DBI) - Modelo de negocio: flujos de ingresos

Venta de zapatos minoristas

En el año fiscal 2023, Designer Brands Inc. reportó ventas minoristas totales de $ 2.93 mil millones. Las ventas de zapatos representaron aproximadamente el 68% de los ingresos minoristas totales, que representan $ 1.994 mil millones en ventas de zapatos directos.

Canal de ventas	Ingresos ($ M)	Porcentaje
Tiendas de DSW	1,752	59.8%
Tiendas fuera del precio	642	21.9%
Minorista en línea	536	18.3%

Accesorios y ventas complementarias de productos

Los accesorios generaron $ 456 millones en ingresos para el año fiscal 2023, lo que representa el 15.6% de las ventas minoristas totales.

• Bolsos: $ 189 millones
• Calcetines y medias: $ 87 millones
• Productos de cuidado de zapatos: $ 62 millones
• Joyas y accesorios pequeños: $ 118 millones

Comisiones del mercado en línea

Las ventas de mercado de terceros generaron $ 42.3 millones en ingresos por comisión para el año fiscal 2023.

Monetización del programa de fidelización

El Programa de Lealtad VIP DSW contribuyó con $ 78.6 millones a través de tarifas de membresía e ingresos de marketing específicos en 2023.

Ingresos de distribución al por mayor

La distribución mayorista a minoristas externos generó $ 276 millones en ingresos para el año fiscal 2023.

Canal al por mayor	Ingresos ($ M)
Grandes almacenes	156
Minoristas independientes	82
Distribuidores internacionales	38

Designer Brands Inc. (DBI) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Designer Brands Inc. (DBI) over competitors, focusing on the tangible benefits delivered across their retail and brand portfolio segments as of late 2025.

Wide, curated selection of national and exclusive Owned Brands

Designer Brands Inc. offers a mix of established national partners and proprietary labels. The private label brands, such as Kelly & Katie, Mix No. 6, and Crown Vintage, are key for margin. These owned brands currently penetrate at less than 20 percent of DSW sales, though management sees an opportunity for expansion. The control over design and production for these private labels allows Designer Brands Inc. to deliver over 1500 basis points of incremental margin rate above their national brand offerings. In contrast, the top eight national brands were a primary driver of positive performance, with sales up 25 percent on a full-year basis for fiscal 2024. Within the Brand Portfolio segment, Topo Athletic grew over 70 percent in fiscal 2024 and now represents over 10 percent of the total Brand Portfolio sales.

The company is focused on growing this segment, anticipating Brand Portfolio segment sales to increase by a mid-single digit percentage in fiscal 2025.

The breadth of the offering is supported by a physical footprint of over 650 DSW Designer Shoe Warehouse, The Shoe Company, and Rubino stores in North America, alongside a digital presence that powers a billion-dollar digital commerce business.

Here's a quick look at key assortment and performance metrics:

Metric Category	Specific Data Point	Value/Amount	Reporting Period/Context
Owned Brand Penetration	Percentage of DSW Sales	Less than 20 percent	As of early 2025
Owned Brand Margin Benefit	Incremental Margin Rate vs. National Brands	Over 1500 basis points	Internal Comparison
Top National Brands Sales Growth	Year-over-Year Sales Increase	25 percent	Fiscal Year 2024
Topo Athletic Sales Growth	Year-over-Year Sales Increase	Over 70 percent	Fiscal Year 2024
Brand Portfolio Segment Sales Growth Expectation	Fiscal 2025 Net Sales Growth Guidance	Mid-single digits	2025 Outlook

Value-driven pricing and promotional events like the semiannual sale

Designer Brands Inc. recognizes the pressure on the consumer due to inflation and rising prices, so the near-term focus has shifted to amplifying value in retail channels. The company intends to continue evolving its approach to promotions and discounts to serve customers searching for value. Specifically, the semiannual sale is set to continue evolving as it becomes a more important promotional event for DSW.

Seamless omni-channel shopping experience (buy online, pick up in-store)

The company continues to focus on elevating the customers' omni-channel experience. This infrastructure includes a digital commerce business valued at over a billion dollars across multiple domains. The performance across channels shows volatility, with Q1 2025 comparable sales falling 7.8 percent overall. However, the U.S. Retail segment showed sequential improvement, with Q2 2025 comparable sales improving by 280-basis points from Q1 2025. The back-to-school period in Q2 2025 saw positive indicators, as shoe-shopping traffic from early July through early August soared 13 percent above June's average and 11 percent above late August. The company ended Q2 2025 with 494 U.S. stores and 175 stores in Canada.

Key omni-channel and traffic metrics:

• Digital Commerce Business Value: Over $1 billion
• U.S. Store Count (End of FY2024): 494
• Q1 2025 Total Comparable Sales Decline: 7.8 percent
• Q2 2025 Sequential Comp Sales Improvement: 280-basis points from Q1 2025
• Back-to-School Traffic Increase (Early July-Early Aug 2025 vs. June Avg): 13 percent

On-trend assortment, including increased penetration of athleisure

Revitalizing and modernizing the assortment is a core strategic focus. A clear win in this area is athleisure, which increased its penetration by five percentage points at DSW by the end of fiscal 2024, capturing market share. This category performance has been strong, with reports noting impressive performance that outpaced the market by over 4 percentage points in a prior period. The Brand Portfolio segment's direct-to-consumer channel, however, saw a significant drop of 27 percent in Q1 2025.

You should track the recovery of the DTC channel against the continued strength in athleisure for a clear view of assortment health.

Finance: draft 13-week cash view by Friday.

Designer Brands Inc. (DBI) - Canvas Business Model: Customer Relationships

You're looking at how Designer Brands Inc. (DBI) connects with the people buying their shoes as of late 2025. The core of this relationship is heavily weighted toward their loyalty structure, which is a massive driver of their business.

DSW VIP loyalty program for personalized offers and retention

Honestly, the DSW VIP loyalty program is central to their customer retention strategy. As of early 2025, this program was responsible for a staggering 90% of Designer Brands Inc.'s total transactions. That number tells you they are not just offering points; they are structuring nearly all customer interactions through this platform. To be fair, they recognize the need to evolve this relationship, as they announced plans to relaunch and reshape the VIP Rewards and perks in 2026. This suggests a near-term pause or refinement before a major upgrade to drive better personalization and retention, building on the foundation that already captures the vast majority of their sales volume. Back in 2022, they were referencing nearly 30 million loyalty members, giving you a sense of the scale they are working with.

Here's a quick look at some key operational numbers around that time frame:

Metric	Value/Period	Context
VIP Transactions Share	90%	Percentage of total transactions captured by the VIP program (as of early 2025).
In-Store Sales Contribution	Over 70%	Percentage of sales driven by the in-person shopping experience.
U.S. Retail Sales Base	Over 80%	Proportion of net retail sales from the U.S. Retail segment (Q2 2025).
Loyalty Members (Historical Benchmark)	Nearly 30 million	Member count referenced in 2022 Investor Day materials.
FY 2024 Net Sales	$3.0 billion	Total net sales for the full fiscal year ended February 1, 2025.

Data-driven approach to better understand and serve customers

Designer Brands Inc. has explicitly stated its commitment to a data-driven approach as part of its strategy moving into 2025. They believe this focus will help them better understand customers and strengthen product offerings. This aligns with broader industry trends for 2025, where unifying first-party data across channels-like web analytics and in-store transactions-is essential for creating a single source of truth and enabling real-time insights. The goal here is moving beyond simple demographics to hyper-personalization, anticipating customer needs along every touchpoint. If onboarding takes 14+ days, churn risk rises, which is why real-time data utilization is so critical for this segment.

Transactional relationship in-store, moving toward a more personal, defintely customer-first model

Despite the digital push, the physical store remains the primary point of contact. The in-person shopping experience drives over 70% of Designer Brands Inc.'s sales. Because of this, the company is concentrating on enhancing in-store selection and displays, calling it a key differentiator. In Q2 2025, they noted gradual improvements in traffic and a notable uptick in conversion, suggesting their in-store initiatives are starting to resonate, even as U.S. retail comps were down about 5% year-over-year for that quarter. The move is about making that high-volume transactional moment feel more personal, using the data gleaned from the VIP program to inform what inventory is available in-store, where over 80% of their net retail sales originate.

• Focus on in-store experience as a key differentiator.
• Enhance store selection and displays for better conversion.
• Leverage data to inform inventory and in-store promotions.
• Plan to relaunch VIP program in 2026 for deeper personalization.

Designer Brands Inc. (DBI) - Canvas Business Model: Channels

You're looking at how Designer Brands Inc. gets its product-from the big box stores to the digital shelf-as of late 2025. The channel strategy is clearly multi-pronged, relying heavily on its physical footprint while supporting it with a significant e-commerce engine. It's all about reaching the customer where they prefer to shop.

The physical retail presence is anchored by the DSW Designer Shoe Warehouse stores in the U.S. Retail segment. As of the end of the second quarter of 2025 (August 2, 2025), Designer Brands Inc. operated 493 DSW stores in the U.S., covering approximately 9,686 thousand square feet. The U.S. Retail segment showed some resilience, with comparable sales improving sequentially from Q1 to Q2 2025. However, for the first quarter of 2025 (ended May 3, 2025), the U.S. retail comparable sales were down 7.3% year-over-year, on total segment net sales of $686.9 million.

Up north, the Canadian operations utilize The Shoe Company and Rubino stores. This segment includes three banners: The Shoe Co., Rubino, and DSW stores in Canada. As of August 2, 2025, the total count for the Canada Retail segment was 175 stores, spanning about 1,276 thousand square feet. Specifically, this included 121 The Shoe Co. stores, 28 Rubino stores, and 26 DSW stores. For the first quarter of 2025, the Canada Retail segment saw its comparable sales drop by 9.2%.

The digital reach is substantial, powered by a billion-dollar digital commerce platform across multiple domains. This e-commerce presence is critical for the omni-channel infrastructure Designer Brands Inc. emphasizes. While the overall digital performance isn't broken out in the same way as the physical segments in the latest reports, the Brand Portfolio segment's direct-to-consumer channel saw a steep decline of 27% in comparable sales for Q1 2025. The total store count across all banners in North America at the end of Q2 2025 was 668 locations.

The final key channel involves National wholesale distribution for Owned Brands. Designer Brands Inc. leverages its design and sourcing expertise to build private label products for national retailers. This channel also supports international distribution through select wholesale and distributor relationships. While the company mentions a 'robust wholesaling business' as a segment, specific revenue figures for the wholesale channel for 2025 aren't explicitly detailed in the Q2 2025 release, though it is noted as a key part of their strategy.

Here's a quick look at the physical footprint as of the end of Q2 2025:

• Total North America Stores: 668
• Total North America Square Footage: 10,962 thousand square feet
• U.S. DSW Stores: 493
• Canada Retail Banners Total: 175

The channel performance metrics from the first half of 2025 give you a sense of the near-term pressure points:

Channel/Metric	Q1 2025 Net Sales (Total Company)	Q1 2025 Comparable Sales Change (YoY)
Total Company	$686.9 million	-7.8%
U.S. Retail Segment (DSW)	Not Separately Stated	-7.3%
Canada Retail Segment (The Shoe Co./Rubino/DSW)	Not Separately Stated	-9.2%
Brand Portfolio DTC Channel	Not Separately Stated	-27%

The company is definitely focused on optimizing this mix, aiming to amplify value in the retail channels and control costs in response to volatility. Finance: draft 13-week cash view by Friday.

Designer Brands Inc. (DBI) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Designer Brands Inc. (DBI) as of late 2025, navigating a tricky economic landscape. The focus is on driving value through their massive retail footprint and high-engagement loyalty base, while a specific brand acquisition continues to outperform.

• Value-seeking consumers pressured by ongoing inflation
• Mass-market footwear and accessories shoppers in North America
• 90% of transactions driven by active loyalty program members (as of Q2 2025)
• Specialty athletic consumers (via Topo Athletic brand)

The U.S. Retail segment, primarily DSW Designer Shoe Warehouse, remains the engine for reaching the broad North American shopper. The company noted that consumers are feeling pressure from ongoing inflation and rising prices, which means value perception is key to capturing discretionary spending.

The loyalty program is central to the business, as members are responsible for the vast majority of sales volume. This high penetration means customer retention efforts directly impact top-line stability.

Segment Indicator	Metric	Value (Latest Available 2025 Data)
U.S. Retail Footprint	DSW Store Count (Q1 2025)	493 locations
U.S. Retail Sales Volume	Net Sales (Q2 2025)	$610.9 million
Loyalty Program Scale	Percentage of Transactions Driven by Members (Q2 2025)	Over 90%
Specialty Athletic Growth	Topo Athletic Sales Growth (YoY, Q2 2025)	45 percent jump
Brand Portfolio Contribution	Topo Athletic Share of Brand Portfolio Sales (Q1 2025)	Over 10 percent

The specialty athletic segment, anchored by Topo Athletic, shows significant traction, growing sales by 45 percent year-over-year in the second quarter of 2025. This brand is clearly capturing a specific, high-growth niche within the broader athletic category.

For the mass-market shopper, the company operates over 660 total points of distribution across North America as of Q1 2025, including DSW, The Shoe Co., and Rubino stores, serving as the primary access point for this segment.

• DSW U.S. comparable sales decreased by 5.0 percent in Q2 2025 compared to the prior year.
• DSW U.S. store conversion was up 1 percent versus last year in Q2 2025.
• Adult Athletic comparable sales at DSW were a slightly negative comp of down 2 percent in Q2 2025.

Finance: draft 13-week cash view by Friday.

Designer Brands Inc. (DBI) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that define where Designer Brands Inc. (DBI) is spending its money as of late 2025. It's a cost structure under pressure, balancing necessary investments with aggressive cost-cutting.

Cost of Goods Sold and Gross Margin

The cost associated with the product itself-the Cost of Goods Sold (COGS)-is derived from the reported Gross Profit and Net Sales figures for the first half of 2025. While a direct split between national brands and Owned Brands isn't explicitly itemized in the latest reports, the overall gross margin reflects the blended cost of inventory acquisition and production.

Here's a look at the key figures from the first two quarters of 2025:

Metric	Q1 2025 (Ended May 3)	Q2 2025 (Ended Aug 2)
Net Sales	$686.9 million	$739.8 million
Gross Profit	$295.1 million	$322.9 million
Gross Margin	43.0%	43.7%
Derived COGS (Net Sales - Gross Profit)	$391.8 million	$416.9 million

Store Operating Expenses and Overhead Leverage

Store operating expenses, which include rent, utilities, and payroll, are managed through overall operating expense control. The focus in 2025 has been on achieving leverage against revenue declines. For the second quarter of 2025, the company saw a positive trend in controlling these costs relative to the prior year.

• Adjusted operating expenses in Q2 2025 dropped $14.1 million versus the second quarter of 2024.
• This drop represented a leverage of 350 basis points compared to the first quarter of 2025.

Marketing and Advertising Spend

Designer Brands Inc. is actively investing in marketing to reinforce its retail channels and drive brand awareness, particularly for DSW. Specific dollar amounts for the total 2025 marketing budget are not detailed in the Q2 2025 filings, but the strategy emphasizes this area as a key driver for traffic and conversion.

The CEO noted ongoing efforts to strengthen the brand through investments in marketing. This spend is intended to support the omni-channel model and counter consumer caution.

Cost Reduction Initiatives

A significant component of the 2025 cost structure management involves targeted savings programs. These are a direct response to the unpredictable macro environment and pressure on discretionary spending.

Designer Brands Inc. expects to deliver between $20 million to $30 million in cost savings over the course of 2025.

Debt Obligations

The balance sheet carries substantial debt obligations that factor into the overall cost of capital structure. As of the end of the second quarter of 2025, the total debt load was clearly stated.

Debt obligations totaled $516.3 million as of the end of the second quarter of 2025. This compares to $465.7 million at the end of the same period last year. Finance: draft 13-week cash view by Friday.

Designer Brands Inc. (DBI) - Canvas Business Model: Revenue Streams

You're looking at the core ways Designer Brands Inc. (DBI) brings in money, which is really the engine of the whole business model. Honestly, it's a mix of direct-to-consumer retail and wholesale distribution, which is pretty standard for a major footwear player.

The overall scale is significant. Designer Brands Inc. reported a trailing 12-month revenue of $2.92 billion as of July 31, 2025. This top-line number is the sum of all their selling activities across North America and international channels.

For the second quarter of fiscal 2025, the company posted Q2 2025 Net Sales of $739.8 million. This figure reflects a 4.2% decrease year-over-year, but it's important to note the sequential improvement from Q1 2025, which saw an 8% decline in net sales.

The revenue streams are clearly segmented across their operations. You can see the primary drivers below, which are anchored by their physical and digital retail footprint.

• Powered by a billion-dollar digital commerce business across multiple domains.
• Operating over 650 DSW Designer Shoe Warehouse, The Shoe Co., and Rubino stores in North America.
• Distributes brands internationally through select wholesale and distributor relationships.
• Leverages design and sourcing expertise to build private label products for national retailers.

Here's a look at the reported revenue components based on the latest available data:

Revenue Stream Component	Latest Reported Metric/Amount	Context/Period
Trailing 12-Month Revenue	$2.92 billion	As of July 31, 2025
Q2 2025 Net Sales	$739.8 million	For the quarter ended August 2, 2025
Retail sales from the U.S. Retail segment (DSW)	Over 80% of net retail sales	Q2 2025 context
Retail sales from the Canada Retail segment (The Shoe Company, Rubino)	Implied remainder of North American retail sales	Q2 2025 context
Wholesale revenue from the Brand Portfolio segment	Segment sales dropped 23.8% year-over-year	Q2 2025 context

Retail sales from the U.S. Retail segment (DSW) is definitely the lion's share of the business, making up over 80% of the net retail sales in Q2 2025. The performance of DSW is key to the overall health of Designer Brands Inc.

The Canada Retail segment, which includes The Shoe Company and Rubino, contributes the rest of the direct-to-consumer revenue. While specific dollar figures for this segment in Q2 2025 aren't explicitly broken out against the U.S. segment in the same way, it's a necessary part of the North American retail footprint.

Wholesale revenue from the Brand Portfolio segment is another distinct stream, though it faced headwinds recently. In the second quarter of 2025, the Brand Portfolio segment saw its sales drop by 23.8% compared to the prior year. This segment includes distribution of owned brands like Topo Athletic and Vince Camuto, plus private label products.