a.k.a. Brands (AKA) TD Cowen 10th Annual Future of the Consumer Conference summary

Strategic transformation and growth outlook

• 2026 is seen as an inflection point, with EBITDA targeted at $30–32 million, up from $19 million last year, driven by expansion into new channels and operational improvements.

• Brands have shifted from direct-to-consumer to include retail, wholesale, and marketplace channels, with Princess Polly now operating 13 stores and more leases signed.

• Culture Kings has adopted a test and repeat model, enhancing profitability and setting the stage for further expansion.

• Supply chain diversification away from China and expected tariff refunds are strengthening the balance sheet and enabling further store growth.

• Inventory has been reduced by 28% year-over-year, with a focus on keeping inventory growth below sales growth.

Operating model and brand differentiation

• The test and repeat model introduces 100 new styles weekly, allowing rapid response to trends and improved margins, especially in the men's segment.

• Dual hemisphere strategy leverages seasonal differences between Australia and the U.S. to test products and optimize buy-in for each market.

• AI and data integration across brands are providing actionable insights for merchandising, marketing, and operations, though still in early stages.

• TikTok and influencer-led marketing, including employee participation, are core to brand engagement and driving SKU velocity.

• Marketplace expansion has revealed new customer segments for classic products, supporting a multi-channel approach.

Brand portfolio and international expansion

• Princess Polly targets 15–25-year-old women, with strong store performance and expansion in the U.S. and Australia.

• Petal & Pup focuses on 25–40-year-old women, with successful launches in Nordstrom and other department stores.

• Culture Kings emphasizes retailtainment and exclusive collaborations, with significant marketing activations and new store openings.

• International growth is supported by a new U.K. distribution center, improving conversion and repeat rates for Princess Polly, with plans to expand other brands.

• The group is open to M&A, prioritizing brands compatible with the test and repeat model and collaborative culture.