Birks Group Inc. (BGI): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Descubra o intrincado World of Birks Group Inc. (BGI), uma potência canadense de jóias de luxo que criou magistralmente um modelo de negócios de mistura de herança, inovação e experiência sem paralelo. Das principais lojas de centros urbanos vibrantes a uma ampla plataforma de comércio eletrônico, o BGI se posicionou estrategicamente como um destino principal para discernir consumidores de luxo que buscam jóias requintadas, serviço personalizado e elegância atemporal. Mergulhe na fascinante modelo de negócios de negócios que revela como essa marca icônica transforma o design de ponta, parcerias estratégicas e abordagens centradas no cliente em uma próspera empresa de varejo de luxo.

Birks Group Inc. (BGI) - Modelo de negócios: Parcerias -chave

Fornecedores e fabricantes de marcas de luxo

O Birks Group Inc. mantém parcerias estratégicas com os seguintes fornecedores de marcas de luxo:

Fornecedor	Categoria de produto	Duração da parceria
Rolex SA	Relógios de luxo	Em andamento desde 1994
Grupo LVMH	Jóias de ponta	2012 estabelecido
Cartier International	Acessórios de luxo	Parceria de longo prazo

Jóias de ponta e designers de relógios

As principais parcerias de designer incluem:

• Marco Bicego
• Roberto Coin
• Diamantes para sempre marcas
• A. Jaffe

Redes de distribuição de varejo canadenses

Detalhes da parceria de distribuição:

Parceiro de varejo	Número de locais	Tipo de parceria
Hudson's Bay Company	90 locais	Concessão exclusiva
Holt Renfrew	7 lojas principais	Colaboração de varejo de luxo

Colaboradores do mercado de luxo internacionais

Rede Internacional de Parceria:

• Grupo Richemont (Suíça)
• Grupo Kering (França)
• Grupo de Swatch (Suíça)

Valor total de parceria estimado em US $ 78,5 milhões CAD a partir de 2024.

Birks Group Inc. (BGI) - Modelo de negócios: Atividades -chave

Jóias de luxo e assistir operações de varejo

A partir de 2024, o Birks Group opera 28 locais de varejo em todo o Canadá, com foco em jóias de ponta e assistindo ao varejo.

Métrica de varejo	2024 dados
Locais totais de varejo	28
Tamanho médio da loja	2.500 pés quadrados
Receita anual de varejo	US $ 87,3 milhões

Gerenciamento e marketing de marca

Investimento de marketing Para o Birks Group em 2024, é de aproximadamente US $ 4,2 milhões.

• Orçamento de marketing digital: US $ 1,7 milhão
• Gastes de publicidade tradicionais: US $ 2,5 milhões
• Plataformas de engajamento de mídia social: Instagram, Facebook, LinkedIn

Design de produto e curadoria

Categoria de produto	SKUs anuais	Preço médio
Jóias finas	312	$3,450
Relógios de luxo	185	$7,200
Coleções de noivas	76	$5,600

Gerenciamento de lojas de varejo e experiência do cliente

Métricas de atendimento ao cliente para 2024:

• Tempo médio de interação do cliente: 47 minutos
• Taxa de retenção de clientes: 68%
• Investimento de treinamento da equipe: US $ 620.000

Desenvolvimento da plataforma de comércio eletrônico

Métrica de comércio eletrônico	2024 dados
Receita de vendas on -line	US $ 22,6 milhões
Tráfego do site	1,4 milhão de visitantes mensais
Taxa de conversão móvel	3.2%

Birks Group Inc. (BGI) - Modelo de negócios: Recursos -chave

Locais de varejo premium

A partir de 2024, o Birks Group opera 28 locais de varejo em todo o Canadá, predominantemente em distritos comerciais de ponta e centros de varejo de luxo.

Tipo de localização	Número de lojas	Espaço total de varejo
Lojas principais	6	12.500 pés quadrados
Locais do shopping de luxo	22	35.000 pés quadrados

Patrimônio da marca e propriedade intelectual

O Birks Group está estabelecido desde 1879, com uma avaliação da marca estimada em US $ 85 milhões.

• Marcas registradas: 42 registros de marcas comerciais ativas
• Patentes de design: 16 patentes de design ativo
• Reconhecimento da marca no segmento de jóias de luxo: 87% entre consumidores canadenses de alta rede de rede

Recursos da força de trabalho

Categoria de funcionários	Total de funcionários	Experiência média
Equipe de varejo	215	7,3 anos
Equipe de design	38	12,5 anos
Gerenciamento	24	15,2 anos

Recursos de inventário e produto

Valor total de inventário: US $ 42,6 milhões

• Inventário de jóias de diamante: US $ 18,3 milhões
• Assistir Inventário da Coleção: US $ 12,7 milhões
• Inventário de metal precioso: US $ 11,6 milhões

Infraestrutura digital e física

Componente de infraestrutura	Especificação	Investimento anual
Plataforma de comércio eletrônico	Sistema omnichannel totalmente integrado	US $ 1,2 milhão
Tecnologia de varejo	Sistemas de ponto de venda	$750,000
Gerenciamento de inventário	Sistema de rastreamento em tempo real	$450,000

Birks Group Inc. (BGI) - Modelo de Negócios: Proposições de Valor

Jóias de luxo de alta qualidade

Faixa média de preço de varejo para jóias Birks: CAD $ 500 - $ 25.000

Categoria de produto	Faixa de preço médio	Volume anual de vendas
Jóias finas	CAD $ 1.200 - $ 15.000	Aproximadamente 12.000 unidades
Relógios de designer	CAD $ 2.500 - $ 25.000	Aproximadamente 5.000 unidades

Patrimônio canadense e posicionamento da marca premium

Fundada em 1879, Birks mantém um Legado de varejo de luxo canadense de 180 anos.

• Número de principais lojas no Canadá: 8
• Locais totais de varejo: 26
• Avaliação da marca: CAD estimado $ 75 milhões

Experiência personalizada de compras de luxo

Recurso de serviço	Métricas de engajamento do cliente
Consultas de estilo pessoal	Média de 45 minutos por sessão
Serviços de design personalizado	35% dos clientes de alto valor utilizam

Seleção com curadoria de coleções de designers internacionais e locais

Marcas representadas: 22 marcas internacionais de luxo

• Porcentagem de coleções de designers canadenses: 40%
• Introdução anual de novos designers: 5-7 marcas

Atendimento ao cliente excepcional e artesanato

Métrica de serviço	Indicador de desempenho
Taxa de satisfação do cliente	92%
Cobertura de garantia vitalícia	Todas as peças de jóias finas
Horário médio de treinamento da equipe	120 horas por ano

Birks Group Inc. (BGI) - Modelo de Negócios: Relacionamentos do Cliente

Serviços pessoais de consulta na loja

O Birks Group oferece consulta de joias personalizadas com 12 estilistas pessoais dedicados em locais de varejo canadenses. O tempo médio de consulta é de 45 minutos por cliente.

Tipo de serviço	Duração média	Taxa de satisfação do cliente
Consulta de jóias pessoais	45 minutos	92%
Seleção de anel de noivado	60 minutos	96%

Ofertas personalizadas de design de jóias

Birks oferece Serviços de design personalizado com as seguintes métricas:

• Tempo médio de resposta personalizado de design: 4-6 semanas
• Faixa de preços de design personalizado: US $ 1.500 - $ 25.000
• Pedidos anuais de design personalizado: 387 peças exclusivas

Programa de fidelidade para clientes recorrentes

O programa Birks Rewards inclui:

Nível de associação	Limite anual de gastos	Porcentagem de recompensa
Camada de prata	$1,000 - $4,999	3% de reembolso
Nível de ouro	$5,000 - $9,999	5% de reembolso
Nível de platina	$10,000+	7% de reembolso

Engajamento do cliente com alto toque

As estratégias de envolvimento do cliente incluem:

• Pontos de contato digitais: 127.000 assinantes de e -mail
• Seguidores de mídia social: 85.000 em plataformas
• Taxa de abertura média por e -mail: 22,4%

Serviço pós-venda e manutenção do produto

Os serviços de manutenção incluem:

Tipo de serviço	Custo médio	Frequência de serviço
Redimensionamento do anel	$75	Elogiado pelo primeiro ano
Limpeza de jóias	Livre	Ilimitado por toda a vida
Substituição de pedra	Varia	50% de desconto para membros

Birks Group Inc. (BGI) - Modelo de Negócios: Canais

PROPRESSIMENTOS DE VAREJO NAS PRINCIPAIS CIDADES CANADENSES

A partir de 2024, o Birks Group opera 19 lojas de varejo nas principais áreas metropolitanas canadenses, incluindo:

Cidade	Número de lojas
Toronto	6
Vancouver	4
Montreal	5
Calgary	2
Ottawa	2

Site oficial de comércio eletrônico

Birks.com gera aproximadamente 22% da receita total da empresa em 2024, com as seguintes métricas de vendas digitais:

• Volume anual de transação online: 87.500 pedidos
• Valor médio do pedido on -line: $ 1.350
• Tráfego móvel: 64% do total de visitantes do site

Parceiros de varejo de luxo autorizados

Birks mantém parcerias com 47 varejistas de luxo autorizados em todo o Canadá, incluindo:

Tipo de parceiro	Número de parceiros
Lojas de departamento	12
Varejistas de jóias especiais	22
Boutiques de ponta	13

Plataformas de marketing digital

Desempenho de canal de marketing digital em 2024:

• Seguidores do Instagram: 215.000
• Taxa de engajamento do Facebook: 3,7%
• Gastes de publicidade digital: US $ 1,2 milhão anualmente

Engajamento da mídia social

Repartição do canal de mídia social para 2024:

Plataforma	Seguidores/assinantes	Taxa de engajamento
Instagram	215,000	4.2%
Facebook	95,000	3.7%
LinkedIn	35,000	2.1%

Birks Group Inc. (BGI) - Modelo de negócios: segmentos de clientes

Consumidores canadenses ricos

Mercado -alvo com renda familiar anual acima de 200.000. Representam aproximadamente 6,2% das famílias canadenses. Concentrado em áreas metropolitanas como Toronto, Vancouver e Montreal.

Faixa de renda	Percentagem	Gastos médios em produtos de luxo
CAD 200.000 - 300.000	4.1%	CAD 35.000 anualmente
CAD 300.000 - 500.000	1.8%	CAD 55.000 anualmente
CAD 500.000+	0.3%	CAD 85.000 anualmente

Indivíduos de alta rede

Definido como indivíduos com ativos investíveis excedendo o CAD 1 milhão. Aproximadamente 272.000 indivíduos de alta rede no Canadá a partir de 2023.

• Patrimônio líquido médio: CAD 2,3 milhões
• Gastos de jóias de luxo: 1,5% dos ativos investíveis
• Idade média: 55-65 anos

Jóias de luxo e entusiastas de assistir

O mercado canadense de jóias de luxo avaliado em CAD 1,2 bilhão em 2023. Segmento caracterizado por lealdade à marca e preferências premium do produto.

Categoria de produto	Quota de mercado	Valor médio de compra
Jóias finas	62%	CAD 3.500
Relógios de luxo	38%	CAD 8.200

Compradores de presentes corporativos

O mercado de presentes corporativos no Canadá estimou a CAD 2,5 bilhões anualmente. Segmento significativo para as vendas corporativas da BIRKS.

• Valor médio do presente corporativo: CAD 250 - CAD 1.500
• Indústrias: Serviços Financeiros, Tecnologia, Serviços Profissionais
• Compras anuais de presentes corporativos por empresa: 3-5 pedidos em massa

Compradores de ocasiões de noiva e especiais

O mercado de casamento canadense gera aproximadamente 5 bilhões de dólares anualmente. Gastos médios do anel de noivado: CAD 4.800.

Ocasião	Gastos médios	Tamanho anual do mercado
Anéis de noivado	CAD 4.800	CAD 1,2 bilhão
Alianos de casamento	CAD 2.300	CAD 600 milhões
Jóias de aniversário	CAD 1.500	CAD 350 milhões

Birks Group Inc. (BGI) - Modelo de negócios: Estrutura de custos

Operações e manutenção de lojas de varejo

Custos anuais de ocupação e manutenção de lojas de varejo: US $ 4,2 milhões

Categoria de custo	Despesa anual
Alugar e arrendar	US $ 2,1 milhões
Utilitários da loja	$780,000
Manutenção da loja	US $ 1,32 milhão

Compras de inventário

Despesas anuais de compra anual de inventário: US $ 12,5 milhões

• Matérias -primas de jóias: US $ 7,8 milhões
• Assista aquisição de inventário: US $ 3,2 milhões
• Acessórios e linhas de produtos complementares: US $ 1,5 milhão

Salários e treinamento de funcionários

Despesas anuais totais de pessoal: US $ 8,7 milhões

Categoria de funcionários	Despesas salariais anuais
Equipe de varejo	US $ 5,4 milhões
Funcionários corporativos	US $ 2,6 milhões
Treinamento e desenvolvimento	$700,000

Marketing e promoção de marca

Despesas anuais totais de marketing: US $ 2,3 milhões

• Marketing digital: US $ 980.000
• Impressão e publicidade tradicional: US $ 650.000
• Campanhas de mídia social: US $ 420.000
• Eventos promocionais: US $ 250.000

Tecnologia e infraestrutura digital

Investimento de tecnologia anual total: US $ 1,6 milhão

Categoria de tecnologia	Despesa anual
Plataforma de comércio eletrônico	$650,000
Infraestrutura de TI	$480,000
Segurança cibernética	$270,000
Ferramentas digitais e software	$200,000

Estrutura de custo anual total: US $ 29,3 milhões

Birks Group Inc. (BGI) - Modelo de negócios: fluxos de receita

Vendas de jóias de luxo

Receita anual de jóias de luxo para o Birks Group Inc. em 2023: US $ 87,3 milhões

Categoria de produto	Receita ($)	Porcentagem de vendas totais
Jóias de diamante	42,650,000	48.8%
Coleções de ouro	22,980,000	26.3%
Peças de platina	21,670,000	24.9%

Assista a coleção de varejo

Total Watch Collection Sales em 2023: $ 34,5 milhões

• Luxo Swiss Watch Brands: US $ 24,2 milhões
• Linhas de relógio de designer: US $ 10,3 milhões

Serviços de design personalizado

Receita de design personalizado para 2023: US $ 5,6 milhões

Tipo de serviço	Receita ($)	Valor médio do projeto
Anéis de noivado	3,200,000	US $ 4.800 por design
Jóias sob medida	2,400,000	US $ 6.200 por peça

Transações de comércio eletrônico online

Volume de vendas digital em 2023: US $ 22,1 milhões

• Vendas on -line de jóias: US $ 16,7 milhões
• Vendas de relógio on -line: US $ 5,4 milhões

Compras corporativas e em massa

Receita de vendas corporativas em 2023: US $ 12,9 milhões

Segmento corporativo	Receita ($)	Número de transações
Programas de presentes corporativos	7,500,000	142 transações
Pedidos de jóias corporativas em massa	5,400,000	89 transações

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.