Birks Group Inc. (BGI): Business Model Canvas [Jan-2025 Mis à jour]

Découvrez le monde complexe de Birks Group Inc. (BGI), une puissance de bijoux de luxe canadienne qui a magistralement conçu un modèle commercial mélangeant un patrimoine, l'innovation et une expérience client inégalée. Des magasins phares des centres urbains dynamiques à une vaste plate-forme de commerce électronique, BGI s'est stratégiquement positionné comme une destination de premier plan pour les consommateurs de luxe exigeants à la recherche de bijoux exquis, de service personnalisé et d'élégance intemporelle. Plongez dans le fascinant toile du modèle commercial qui révèle comment cette marque emblématique transforme la conception haut de gamme, les partenariats stratégiques et les approches centrées sur le client en une entreprise de vente au détail de luxe prospère.

Birks Group Inc. (BGI) - Modèle d'entreprise: partenariats clés

Fournisseurs et fabricants de marque de luxe

Birks Group Inc. maintient des partenariats stratégiques avec les fournisseurs de marques de luxe suivants:

Fournisseur	Catégorie de produits	Durée du partenariat
Rolex SA	Montres de luxe	En cours depuis 1994
Groupe LVMH	Bijoux haut de gamme	Créé 2012
Cartier International	Accessoires de luxe	Partenariat à long terme

Bijoux haut de gamme et concepteurs de montres

Les partenariats des concepteurs clés comprennent:

• Marco Bicego
• Roberto Coin
• Diamants pour toujours
• A. Jaffe

Réseaux de distribution de détail canadiens

Détails du partenariat de distribution:

Partenaire de vente au détail	Nombre d'emplacements	Type de partenariat
Hudson's Bay Company	90 emplacements	Concession exclusive
Holt Renfrew	7 magasins phares	Collaboration au détail de luxe

Collaborateurs internationaux du marché du luxe

Réseau international de partenariat:

• Groupe Richemont (Suisse)
• Groupe de kering (France)
• Swatch Group (Suisse)

Valeur du partenariat total estimé à 78,5 millions de dollars CAO En 2024.

Birks Group Inc. (BGI) - Modèle d'entreprise: activités clés

Bijoux de luxe et surveiller les opérations de vente au détail

Depuis 2024, Birks Group exploite 28 emplacements de vente au détail à travers le Canada, en se concentrant sur les bijoux haut de gamme et regardez le commerce de détail.

Métrique au détail	2024 données
Total des lieux de vente au détail	28
Taille moyenne du magasin	2 500 pieds carrés
Revenus de détail annuels	87,3 millions de dollars

Gestion et marketing de la marque

Investissement en marketing Pour le groupe Birks en 2024, c'est environ 4,2 millions de dollars.

• Budget de marketing numérique: 1,7 million de dollars
• Dépenses publicitaires traditionnelles: 2,5 millions de dollars
• Plateformes d'engagement des médias sociaux: Instagram, Facebook, LinkedIn

Conception et conservation des produits

Catégorie de produits	SKUS annuelles	Prix ​​moyen
Bijoux fins	312	$3,450
Montres de luxe	185	$7,200
Collections de mariée	76	$5,600

Gestion des magasins de détail et expérience client

Métriques du service client pour 2024:

• Temps moyen d'interaction du client: 47 minutes
• Taux de rétention de la clientèle: 68%
• Investissement de formation du personnel: 620 000 $

Développement de la plate-forme de commerce électronique

Métrique du commerce électronique	2024 données
Revenus de vente en ligne	22,6 millions de dollars
Trafic	1,4 million de visiteurs mensuels
Taux de conversion mobile	3.2%

Birks Group Inc. (BGI) - Modèle d'entreprise: Ressources clés

Emplacements de vente au détail premium

En 2024, Birks Group exploite 28 emplacements de vente au détail à travers le Canada, principalement dans les quartiers commerçants haut de gamme et les centres de vente au détail de luxe.

Type d'emplacement	Nombre de magasins	Espace de vente au détail total
Magasins phares	6	12 500 pieds carrés
Emplacements du centre commercial de luxe	22	35 000 pieds carrés

Héritage de marque et propriété intellectuelle

Le groupe Birks est créé depuis 1879, avec une évaluation de la marque estimée à 85 millions de dollars.

• Marques enregistrées: 42 Registrations de marque active
• Brevets de conception: 16 brevets de conception actifs
• Reconnaissance de la marque dans le segment des bijoux de luxe: 87% parmi les consommateurs canadiens à forte valeur

Ressources de la main-d'œuvre

Catégorie des employés	Total des employés	Expérience moyenne
Personnel de vente au détail	215	7,3 ans
Équipe de conception	38	12,5 ans
Gestion	24	15,2 ans

Inventaire et ressources du produit

Valeur d'inventaire total: 42,6 millions de dollars

• Inventaire des bijoux en diamant: 18,3 millions de dollars
• Inventaire de la collection de montre: 12,7 millions de dollars
• Inventaire des métaux précieux: 11,6 millions de dollars

Infrastructure numérique et physique

Composant d'infrastructure	Spécification	Investissement annuel
Plate-forme de commerce électronique	Système omnicanal entièrement intégré	1,2 million de dollars
Technologie de vente au détail	Systèmes de point de vente	$750,000
Gestion des stocks	Système de suivi en temps réel	$450,000

Birks Group Inc. (BGI) - Modèle d'entreprise: propositions de valeur

Bijoux et montres de luxe de haute qualité

Plage de prix de détail moyenne pour les bijoux Birks: 500 $ CAD - 25 000 $

Catégorie de produits	Fourchette de prix moyenne	Volume des ventes annuelles
Bijoux fins	1 200 $ CAD - 15 000 $	Environ 12 000 unités
Montres de créateurs	2 500 $ CAD - 25 000 $	Environ 5 000 unités

Patrimoine canadien et positionnement de marque premium

Fondée en 1879, Birks maintient un Héritage de vente au détail de luxe canadien de 180 ans.

• Nombre de magasins phares au Canada: 8
• Total des lieux de vente au détail: 26
• Évaluation de la marque: 75 millions de dollars CAD estimés

Expérience d'achat de luxe personnalisée

Fonctionnalité de service	Métriques d'engagement client
Consultations de style personnel	Moyenne 45 minutes par session
Services de conception personnalisés	35% des clients de grande valeur utilisent

Sélection organisée des collections de concepteurs internationaux et locaux

Marques représentées: 22 marques de luxe internationales

• Pourcentage de collections de concepteurs canadiens: 40%
• Introductions annuelles de nouveau designer: 5-7 marques

Service client exceptionnel et artisanat

Métrique de service	Indicateur de performance
Taux de satisfaction client	92%
Couverture de garantie à vie	Tous les beaux bijoux
Heures de formation moyennes	120 heures par an

Birks Group Inc. (BGI) - Modèle d'entreprise: relations avec les clients

Services de consultation personnels en magasin

Le groupe Birks fournit une consultation personnalisée de bijoux avec 12 stylistes personnels dédiés à travers les magasins canadiens. Le temps de consultation moyen est de 45 minutes par client.

Type de service	Durée moyenne	Taux de satisfaction client
Consultation de bijoux personnels	45 minutes	92%
Sélection de la bague de fiançailles	60 minutes	96%

Offres de conception de bijoux personnalisées

Birks Offres services de conception personnalisés avec les mesures suivantes:

• Temps de redressement moyen de conception personnalisé: 4-6 semaines
• Plage de prix de conception personnalisée: 1 500 $ - 25 000 $
• Commandes de conception personnalisées annuelles: 387 pièces uniques

Programme de fidélité pour les clients réguliers

Le programme Birks Rewards comprend:

Niveau d'adhésion	Seuil de dépenses annuelles	Pourcentage de récompense
Niveau argenté	$1,000 - $4,999	Cashback à 3%
Niveau d'or	$5,000 - $9,999	5% de cashback
Niveau de platine	$10,000+	7% de cashback

Engagement client élevé

Les stratégies d'engagement client comprennent:

• Points de contact numériques: 127 000 abonnés par e-mail
• Abonnés des médias sociaux: 85 000 sur toutes les plateformes
• Taux d'ouverture du courrier électronique moyen: 22,4%

Service après-vente et maintenance des produits

Les services de maintenance comprennent:

Type de service	Coût moyen	Fréquence de service
Redimensionnement des anneaux	$75	Gratuit pour la première année
Nettoyage de bijoux	Gratuit	Illimité pour la vie
Remplacement de la pierre	Varie	Remise de 50% pour les membres

Birks Group Inc. (BGI) - Modèle d'entreprise: canaux

Magasins de vente au détail phare dans les grandes villes canadiennes

Depuis 2024, Birks Group exploite 19 magasins de détail phares dans les principales zones métropolitaines canadiennes, notamment:

Ville	Nombre de magasins
Toronto	6
Vancouver	4
Montréal	5
Calgary	2
Ottawa	2

Site Web de commerce électronique officiel

Birks.com génère environ 22% du total des revenus de l'entreprise en 2024, avec les mesures de vente numérique suivantes:

• Volume de transaction en ligne annuel: 87 500 commandes
• Valeur de commande en ligne moyenne: 1 350 $
• Trafic mobile: 64% du total des visiteurs du site Web

Partenaires de vente au détail de luxe autorisés

Birks maintient des partenariats avec 47 détaillants de luxe autorisés à travers le Canada, notamment:

Type de partenaire	Nombre de partenaires
Grands magasins	12
Détaillants de bijoux spécialisés	22
Boutiques haut de gamme	13

Plateformes de marketing numérique

Performance du canal de marketing numérique en 2024:

• Followers Instagram: 215 000
• Taux d'engagement Facebook: 3,7%
• Dépenses publicitaires numériques: 1,2 million de dollars par an

Engagement des médias sociaux

Dépression des canaux de médias sociaux pour 2024:

Plate-forme	Adeptes / abonnés	Taux d'engagement
Instagram	215,000	4.2%
Facebook	95,000	3.7%
Liendin	35,000	2.1%

Birks Group Inc. (BGI) - Modèle d'entreprise: segments de clientèle

Consommateurs canadiens riches

Marché cible avec un revenu annuel des ménages au-dessus de 200 000 CAD. Représentent environ 6,2% des ménages canadiens. Concentré dans des zones métropolitaines comme Toronto, Vancouver et Montréal.

Tranche de revenu	Pourcentage	Dépenses moyennes en produits de luxe
CAD 200 000 - 300 000	4.1%	35 000 CAD par an
CAD 300 000 - 500 000	1.8%	55 000 CAD par an
CAD 500 000+	0.3%	CAD 85 000 par an

Individus à haute nette

Défini comme des personnes avec des actifs investissables dépassant 1 million de CAD. Environ 272 000 personnes à haute teneur en naissance au Canada en 2023.

• Valeur nette moyenne: 2,3 millions CAD
• Dépenses de bijoux de luxe: 1,5% des actifs investissables
• Âge médian: 55 à 65 ans

Bijoux de luxe et amateurs de montres

Marché canadien de bijoux de luxe d'une valeur de 1,2 milliard de CAD en 2023. Segment caractérisé par la fidélité à la marque et les préférences de produits premium.

Catégorie de produits	Part de marché	Valeur d'achat moyenne
Bijoux fins	62%	CAD 3 500
Montres de luxe	38%	CAD 8 200

Acheteurs de cadeaux d'entreprise

Le marché des dons d'entreprise au Canada estimé à 2,5 milliards de CAD par an. Segment important pour les ventes d'entreprises Birks.

• Valeur des cadeaux moyens: 250 CAD - CAD 1 500
• Industries: services financiers, technologie, services professionnels
• Achats de cadeaux annuels par entreprise par entreprise: 3-5 commandes en vrac

Acheteurs de mariées et d'occasions spéciales

Le marché du mariage canadien génère environ 5 milliards de CAD par an. Anneau de fiançailles Dépenses moyennes: CAD 4 800.

Occasion	Dépenses moyennes	Taille du marché annuel
Bagues de fiançailles	CAD 4 800	1,2 milliard de CAD
Alliants	CAD 2 300	600 millions CAD
Bijoux anniversaire	CAD 1,500	350 millions CAD

Birks Group Inc. (BGI) - Modèle d'entreprise: Structure des coûts

Exploitations et entretien des magasins de détail

Coûts annuels d'occupation et d'entretien des magasins de détail: 4,2 millions de dollars

Catégorie de coûts	Dépenses annuelles
Loyer et location	2,1 millions de dollars
Magasin des services publics	$780,000
Entretien des magasins	1,32 million de dollars

Marchandage des stocks

Total des dépenses de l'approvisionnement des stocks annuels: 12,5 millions de dollars

• Materiques de bijoux: 7,8 millions de dollars
• Regarder l'acquisition des stocks: 3,2 millions de dollars
• Accessoires et gammes de produits complémentaires: 1,5 million de dollars

Salaires et formation des employés

Total des dépenses annuelles du personnel: 8,7 millions de dollars

Catégorie des employés	Dépenses salariales annuelles
Personnel de vente au détail	5,4 millions de dollars
Employés d'entreprise	2,6 millions de dollars
Formation et développement	$700,000

Marketing et promotion de la marque

Total des dépenses de marketing annuelles: 2,3 millions de dollars

• Marketing numérique: 980 000 $
• Advertis imprimé et traditionnel: 650 000 $
• Campagnes de médias sociaux: 420 000 $
• Événements promotionnels: 250 000 $

Technologie et infrastructure numérique

Investissement total de technologie annuelle: 1,6 million de dollars

Catégorie de technologie	Dépenses annuelles
Plate-forme de commerce électronique	$650,000
Infrastructure informatique	$480,000
Cybersécurité	$270,000
Outils et logiciels numériques	$200,000

Structure totale des coûts annuels: 29,3 millions de dollars

Birks Group Inc. (BGI) - Modèle d'entreprise: Strots de revenus

Ventes de bijoux de luxe

Revenus de bijoux de luxe annuels pour Birks Group Inc. en 2023: 87,3 millions de dollars

Catégorie de produits	Revenus ($)	Pourcentage des ventes totales
Bijoux en diamant	42,650,000	48.8%
Collections d'or	22,980,000	26.3%
Pièces de platine	21,670,000	24.9%

Collection de surveillance

Ventes totales de collecte de montres en 2023: 34,5 millions de dollars

• Marques de montre suisse de luxe: 24,2 millions de dollars
• Lignes de montre de créateurs: 10,3 millions de dollars

Services de conception personnalisés

Revenus de conception personnalisés pour 2023: 5,6 millions de dollars

Type de service	Revenus ($)	Valeur moyenne du projet
Bagues de fiançailles	3,200,000	4 800 $ par conception
Bijoux sur mesure	2,400,000	6 200 $ par pièce

Transactions de commerce électronique en ligne

Volume des ventes numériques en 2023: 22,1 millions de dollars

• Ventes en ligne de bijoux: 16,7 millions de dollars
• Ventes de montres en ligne: 5,4 millions de dollars

Achats d'entreprise et en vrac

Revenus de vente d'entreprises en 2023: 12,9 millions de dollars

Segment de l'entreprise	Revenus ($)	Nombre de transactions
Programmes de cadeaux d'entreprise	7,500,000	142 transactions
Commandes de bijoux d'entreprise en vrac	5,400,000	89 transactions

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.