New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>KMD Brands (KMD) delivered a comprehensive strategic reset at its investor day, following what has been a challenging two years for the business.</li><li>The revised strategy centred on three key themes: (1) a product- and brand-led recovery, with a refocus of its brand strategies, leaning into innovation and differentiation, and servicing next-generation as well as core consumers; (2) controlling the controllables—right-sizing the cost base, closing underperforming stores, managing inventory, and pulling down debt levels; and (3) optimising how it delivers its products to customers—being quicker to market, taking a digital-first brand approach, and refining its retail footprint strategy.</li><li>While these initiatives are sensible, the operating backdrop remains challenging.</li></ul>

KMD Brands (KMD) delivered a comprehensive strategic reset at its investor day, following what has been a challenging two years for the business.The revised strategy centred on three key themes: (1) a product- and brand-led recovery, with a refocus of its brand strategies, leaning into innovation and differentiation, and servicing next-generation as well as core consumers; (2) controlling the controllables—right-sizing the cost base, closing underperforming stores, managing inventory, and pulling down debt levels; and (3) optimising how it delivers its products to customers—being quicker to market, taking a digital-first brand approach, and refining its retail footprint strategy.While these initiatives are sensible, the operating backdrop remains challenging.

Kathmandu Holdings

KMD Brands Resetting Base Camp