Maison Birks is set to invest in its retail network, digital operations and omni-channel capabilities after parent company Birks Group secured a strategic financing package from Gordon Brothers.
The Canadian jewellery and watch retailer said the additional funding would support initiatives designed to drive sales growth, including store renovations, digital commerce projects and working capital requirements.
Investment in Maison Birks’ Growth
The financing provides Birks Group with additional liquidity as it progresses its growth strategy and invests in the development of the Maison Birks retail experience.
Planned initiatives include improvements to its store network and further investment in omni-channel capabilities, allowing the retailer to better connect its physical and digital operations.
Marco Pasteris, vice president of business development and corporate operations at Birks Group, said the lender’s understanding of the company and its objectives had helped shape the agreement.
“What sets Gordon Brothers apart is their unique combination of industry knowledge and capital solutions,” Pasteris said. “Our long-standing relationship allowed Gordon Brothers to have a comprehensive understanding of our goals and our strategic initiatives.”
Supporting an Iconic Canadian Jewellery Brand
Founded in 1879, Birks is one of Canada’s longest-established luxury jewellery brands. Gordon Brothers said its decades-long relationship with the business and experience within the jewellery sector allowed it to develop a flexible financing solution aligned with Birks Group’s plans.
“Birks, founded in 1879, is one of Canada’s most iconic and well-established luxury brands,” said Chad Simon, senior managing director of transactions at Gordon Brothers.
“Our decades-long relationship with the company, combined with our long history in the jewellery industry, meant we could deliver unmatched liquidity and flexibility to support the company’s strategic initiatives.”
Gordon Brothers will continue to provide strategic support as the retailer’s financing requirements develop.
Peter Foley, director at Wells Fargo Capital Finance, which partnered with Gordon Brothers on the transaction, said the lender’s asset expertise and flexibility had been important in structuring the package.
“We value the opportunity to have partnered with Gordon Brothers on the Birks Group transaction,” Foley said. “Their asset expertise, speed and flexibility were critical in structuring a solution that met client needs and drove a successful outcome.”
