Thanks. The opportunity to build a lifelong style journey with clients makes each new customer more valuable to Aritzia than to competitors that have a more narrow demographic focus. We were planning for a lot worse. But the recent resurgence of the virus makes it clear the pandemic isnt over, which could mean more emergencies ahead. (function() { Aritzia is a very important part of my life, says Wong. For one, having control over its supply chain gave the retailer the ability to essentially stop the presses on some inventory orders for spring and summer. Shes done a great job of putting the strategic dream into place.. After the Black Lives Matter protests last summer, Aritzia started by investing $1 million to expand and strengthen its Diversity and Inclusion Program and established an Executive Diversity and Inclusion Committee led by Wong. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada.. In Q1, we were lapping two months of closures versus one month in Q2. He invited me to basically run the shoe division for retail, she says of Hill, who founded Aritzia in the basement of his familys longstanding business, Hills of Kerrisdale, in 1984. I dont know if that [opposition] drives me, but we said, We are going to do it, and we are going to do it successfully. Right, she says, punctuating each word. And many people dont realize the founder of the iconic brand American Apparel actually hails from Canada. Please. What makes Aritzia different, says Wong, is that it values its Canadian roots and is commitment to maintaining its unique culture. She pauses to consider. On this Tuesday in September, the store is busy but not crowdedsomething it may never be again if COVID-19 permanently changes how we shop. "Those are really intelligent locations," Patterson said. Were still an unknown entity. BY DARLA MURRAY On the southeast corner of Broadway and Spring in New York City's stylish SoHo neighbourhood is the Canadian clothing store, Aritzia. I thought I would do this until I got a real job in finance after I graduated, says the Vancouver native. Aritzias digital concierge platform helps staff serve as personal stylists, giving them access to records of customers' preferences and enabling marketing personalization. Verified account Protected Tweets @; Suggested users its most important sales period, said president J ProductEmail Finder API Accuracy Pricing Company Email Directory Compare. And so we think by opening these bigger stores and due to the economic environment out there in real estate, we're actually paying less or getting bigger stores and paying less rent than we were previously. That's where the big opportunity is and that's where we're really excited. Join us in celebrating our newly appointed Chief Executive Officer, Jennifer Wong.. Aritzia is a woman-powered business, with 80% of our leadership positions being held by women. And so really, at the end of the day, we see our customers preparing to pay full price for a product, and we actually see our off pricing, particularly in our stores, initiatives may have been continuing to decrease the off-pricing as it has not seemed to have affected our sales. While the pandemic halted a run of 22 consecutive quarters of comparable sales growth, the Vancouver-based retailer registered a smaller revenue drop than many rivals, thanks to its nimble pivot to e-commerce. The popularity of the Super Puff, an all-time bestseller, has been almost entirely due to social. Related products. His fashion retailer has increased in size to 106 stores, including some under banners such asTNA, Babaton and Wilfred. A core value guiding the brand is its give-back initiative, as evidenced by the work it committed to at the start of the pandemic. Some of Aritzias activities over the past year that stand out and were spearheaded by Wong include its leadership during the pandemic and how it gave back to its communities; creating an optimal framework to enhance its digital selling and e-commerce during store closures; and walking the talk by operating from the mantra that real change starts from within.. Thanks so much for that color. Ms. Wong was 18 years old at the time and studying commerce at the University of. And so we're looking at that. We had a terrific start to the year. And Aritzia has also consistently been a favorite of the Duchess of Sussex Meghan Markle (who has been spotted in several items from the Babaton and Wilfred range). This reflects continued strength in the United States in both retail and eCommerce as well as a strong recovery of our business in Canada. We already opened our first boutique in Orlando, and we'll be opening in Atlanta later this month. It didnt lay off any staff, instead shifting many to help with e-commerce and call centre operations. Learn how the brand is doing it, by . Work Biography for Jennifer Wong, Aritzia. Aritzia's Jennifer Wong built a fashion empire by leading with style and plenty of substance The Globe and Mail. So as I've been saying in my prepared remarks, we have a long-term view of the business. But Jennifer Wong has given little away because shes been in the office almost every day since the lockdown started, co-ordinating Aritzias pandemic response. } Just with the success on the very strong demand that you're having in the U.S. and with strong productivity from the new boutiques that you're building, is it changing your longer-term perspective on the U.S. market and just how big that could be for you and maybe the potential number of boutiques that you might open there over the long run? This success can be attributed to sharp marketing and brand awareness, able to leverage sightings of public figures and celebritiessuch as Sophie Trudeau, Meghan, Duchess of Sussex (single-handedly responsible for selling out entire product lines), the Hadid sisters, and Hailey Bieberwearing their clothes. A long-term shift toward more casual clothing may permanently impair its Babaton and Wilfred labels. This lays the foundation for more personalization and it forms the strategies we will employ to drive deeper loyalty with every client interaction. What's going to drive our sales and continue to -- what's been driving our sales and will continue to drive our sales are us executing on what we do every day. Wong embodies Aritzia's culture, championing our business and leadership philosophies. And also interesting Brian's comment about a friend who isn't seeing that. No wonder: shes been with the company since 1987, when she joined the Robson Street store as a seasonal style advisor. Where impact and internal change are concerned, its an ever-evolving process. To motivate her staff, she is less inclined to offer advice on how they can take their career to the next level, than to act as an example of whats possible. Looking for somebody else's email? Over the course of Jennifer Wong 's tenure with Aritzia, the company has grown from a Canadian retail operation to an internationally recognized name with a successful e-commerce store and a continually growing U.S. presence.. So we're looking at expanding these. SG&A expenses in the quarter were $120 million or 29.5% of net revenue compared to 28.5% last year. Know. Today, Aritzia can count 101 boutiques, with the recent opening of its Ala Moana boutique in Honolulu, its first in Hawaii. })(). Hundreds of retail employees re-ceived remote training on the concierge platform, its live-chat features and email marketing. In the second quarter, net revenue was down more than 25% from the previous year, and in-store sales in July were roughly 60% of pre-COVID levels. From Vancouver to New York City, Jennifer Wong, COO of Aritzia, is styled for success. Aritzia was startedinside the Hill familys80-year-old department store in Vancouver. Brian is the creative genius behind the brands and how they go to market, and Jennifer is a phenomenal operator. Leave this field empty if you're human: Good afternoon. We were especially excited about launching our more sustainable styles page. So there's a large timing shift, which is what's causing the variability quarter-to-quarter. Aritzia employs 4,617 employees. Last updated: 1 January 2023 at 11:00am EST. Yes, we aren't seeing any change in that right now. I mean we've always talked about new boutiques and repositioned boutiques. Yes. But as long as we continue to do what we think is best and continue to do what we see as right, that will guide us and lead us towards positive outcomes whether it's within our company or whether it has a bigger impact on our community., This is a BETA experience. We will continue purchasing shares opportunistically throughout fiscal 2023. There are 8 older and 2 younger executives at Aritzia. Hill"Jennifer WongAritzia "Jennifer Aritzia We plan to open 8 to 10 boutiques with all but one in the United States and to expand or reposition four to five boutiques. VANCOUVER - Aritzia Inc. says founder and chief executive Brian Hill is stepping down from the role after leading the clothing retailer for 38 years. All rights reserved. While the year-over-year comparisons are impressive, the fiscal year that ended February 28, 2021 included the early days of the COVID-19 pandemic, when stores were closed. And then that will begin to ease in Q3. Every day Im honored to work alongside a world-class team of smart, ambitious, talented women building and thriving in long-term careers, Wong shares. At the retailers behest, some also went into social media overdrive, which has been growing increasingly important to the retailer as it makes inroads stateside. And so we do see things returning to normal at some point over the course of this year and into next year. So when we say that real change starts from within, we believe that we can impact change most by starting with the 4,000 people that are at Aritzia., We are optimistic about the future, Wong states. "I thought I would do this until I got a 'real job' in finance after I graduated," says the Vancouver native. Inventory was $299 million at the end of the first quarter, up 81% from last year. We're going to see that inflationary pressure on the products coming in. There are 9 older and 1 younger executives at Aritzia. Thank you. The Aritzia management team includes David Labistour (Board Member), Todd Ingledew (Chief Financial Officer), and Jennifer Wong (Chief Executive Officer) . The oldest executive at Aritzia, Inc. is AldoBensadoun, 79, who is the Independent Director. She served as an executive sponsor to several successful strategic initiatives, most notably, the . The next question is from Stephen MacLeod with BMO Capital Markets. We might be down 10% from the peak is what we're seeing. And then the store closures from last year as well. "Aventura Mall is one of the top shopping centers in the U.S. And then I just wanted to ask about, Jennifer, you mentioned the intimates launch that seems like it's intertwined with the Michigan Avenue flagship opening. A key reason Aritzia is in this enviable position is its president and chief operating officer, Jennifer Wong. Aritzia says founder and chief executive Brian Hill is stepping down from the role after leading the clothing retailer for 38 years. In Q1, we reached the 50 people milestone on our data and analytics team. I give feedback as a consumer. We also further developed our data warehouse and deepened our partnership with Tableau. Finally, our eCommerce net revenue was $120 million, an increase of 16%. Ms. Wong embodies Aritzia's culture, championing the business and leadership philosophies. She describes her job as whatever Brian wants to do, wherever he wants to go with this businessI make it happen, quickly adding, with the team. MacLeod is more effusive. The next question is from Lorraine Hutchinson with Bank of America. As the Pres, COO, and Corp. Sec. We also continued to focus on uplifting and empowering our communities and all the people we serve. The Community Care program is an extension of Aritzias overall commitment to organizations that help women and girls succeed at work and in life. We have the answers for you. So we were at an extremely low level last year. In its Q3 results, Aritzia reported that its e-commerce revenue was up 78.5% vs.Q3 last year. I havent had to go anywhere for career challenges or opportunities, she says. Corporate Secretary, and Director of Aritzia, the total compensation of Jennifer Wong at Aritzia is CAD$1,224,000. She became COO in 2007. And can I add something there, too, please? They spent all Saturday huddled in discussions and on calls with the board. Apr 19, 2011. canadastop40under40.com . Wong was 18 years old when she started working as a part-time sales associate at Aritzia in 1987. { I think last year -- throughout the entire year, we were chasing -- our inventory levels were between 20% and 30% up over the prior year, but our sales were up 75%. The company has identified roughly 100 locations that could support stores, and given the troubles of its retail competitors, there are many deals to be had. To maintain our momentum, we added new and improved features and functionalities to aritzia.com. involvement of Jennifer Wong. Are you seeing any mix shift? I have a love for my job. callback: cb We're going to be looking to maintain sales in Canada and continuing to execute on all the things. Yes, I'll take that again. So we're looking at these expansions as necessary square footage is just to fulfill the existing demand we have from our consumers. And then we also have, in the second quarter, COVID relief subsidies and rent abatements that we received last year that are -- that obviously we're not going to get this year. That said, we are cognizant of sort of some potentially pending inflationary effects that are going to affect everybody and how much that affects us is yet to be seen, but we are cognizant of that. Sorry, I would just add something. SIGN UP FOR OUR THURSDAY NEWSLETTER. . I mean these initiatives right now in the short term are not going to drive our sales. That is why we are thrilled to announce our next global flagship on Michigan Avenue, Chicago's Magnificent Mile. These are all our store footprint increases. For the full year, we have increased our net revenue expectations to a range of $1.875 billion to $1.9 billion from our previous outlook of $1.8 billion. Hi Irene, it's, Jennifer. Its a testament to their discipline in investing in their business, says Petrie. It also partnered with Good360, the global leader in product philanthropy and purposeful giving, to gift Aritzia Community Relief Packages to those battling on the virus frontlines. Thanks. So we're thrilled with what the response is to our product and continues to be. So, whatever the customer wants, we will give her.. The continued momentum in the United States drove net revenue of $207 million in the quarter, an increase of 81% from last year. It was really important for us not to layoff or furlough anyone. Thank you, Todd. 11_20_cover_final.indd 1 2020-10-09 2:24 pm mba mba with co-op accelerated mba. You can trust us to find something thats going to make you feel great and look great. It offers t-shirts, tops, bodysuits, shirts, blouses, sweaters, knitwear, sweatsuits, pants, denims, leggings, bike shorts, dresses, skirts, jackets, blazers, jackets, coats, shoes, and accessories, including hats, socks, face masks, intimates, gloves and mittens, belts, scarves, scrunchies, bags, and iphone cases. 1 clothing retailer in Canada because its tactile browsing experience cant easily be duplicated online. Product is at the center of everything that we do and ensuring we have the right product at the right place and at the right price, quite frankly, at the right time is key to everything that we do. The only thing we've seen changing is the product they're purchasing based on the sort of changing face in realities of COVID and opening things up and travel and things. 2022 Women of Influence. So part of the product expansion, some of these initiatives may be eCommerce only and there's a lot of pure plays out there doing incredible business without any stores. It forecasts the countrys clothing sales will plunge 30% from 2019; the biggest previous one-year drop, in 2009, was 2.3%. 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April 18, 2018 Mandate of the Board of Directors (opens in new window) 195 KB. Jennifer L. Wong, MD. Wong was studying economics at the University of British Columbia and planning to get a real job in finance. Wong says what she values in life isnt that complicated or luxurious, its actually kind of simplebut not lacking for quality. Just wanted to get your overall thoughts on where we are -- where your customer is and how they're feeling? Terms and conditions | Copyright Business in Vancouver. They will require some capital, but we actually foresee our sales increasing. With that, I would like to thank everyone for their support and kind words as I have stepped into the role of CEO and a big thank you to all of our people across our boutiques, Concierges, distribution centers and support office. So that's what we're looking at doing, and we're super excited about it. Its famous neighbours include fashion industry powerhouses like Prada, H&M and Bloomingdales. The website now services over 200 countries worldwide. A strong e-commerce platform has been the single biggest differentiator between winners and losers over the past six months.. Thanks. Wallmine is a radically better financial terminal. "I was working evenings and weekends to make some pocket change, and I always thought I'd go on to get a real job," Ms. Wong says with a laugh. 1,039 followers. We're expanding. Please go ahead. The new expectations represent growth of 25% to 27% for the full year. So we started, in Q3, spending significantly on expedited freight last year. There are 1 executives at Aritzia getting paid more, with JedPaulson having the highest compensation of $2,449,610. Selling in our professional and fashion assortment increased as our clients begin to return to the office, social events and travel, all while maintaining our momentum in lifestyle apparel. Wongs stamina in the face of opposition and the way she fiercely embraces a challenge make her a great sparring partner for Hill. Yes, I'll take that. If you have an ad-blocker enabled you may be blocked from proceeding. Thanks, Jennifer, and good afternoon, everyone. Meaghen, I'll take that one. There are 2 executives at Aritzia getting paid more, with JedPaulson having the highest compensation of $2,449,610. . And once again, I'm in this every day, and Todd and I have been having the most meaningful discussions we've had on inventory probably ever and as well as Jennifer and the three of us have been having these discussions. So where last year, the majority of the air freight was in the back half of the year, this year the majority is in the first half, including partially into the third quarter. Wong was 18 years old when she started working as a part-time sales associate at Aritzia in 1987. The sustained momentum is reflective of the significant acceleration in our U.S. client base, which has doubled in the last 12 months as more clients discover and become loyal to the Aritzia brand. joining us today. But management persevered because Wongs analysis showed it was the right long-term decision, strategically, she says. We're not even convinced at this point in time, we're going to offer intimates and swim in our stores. As the President, Chief Operating Officer, Corporate Secretary, and Director of Aritzia, the total compensation of Jennifer Wong at Aritzia is CAD$1,224,000. Her plan was to make some extra cash while she studied economics at the University of British Columbia. We delivered another quarter of exceptional financial results, again, exceeding our expectations, driven by stronger-than-anticipated demand, particularly in the United States as our brand continues to gain momentum. The company was formerly known as Aritzia Capital Corporation and changed its name to Aritzia Inc. in August 2016. Please go ahead. Demand for our much-loved Everyday Luxury experience from new and loyal clients has continued to exceed our highest expectations. Over time, the collection grew to more than a dozen brands, some featured in standalone boutiques. And so we're anticipating that, that may change over the back half. And I think that we're in it for the long game, as Jen mentioned. But so far, right now, we are not seeing any changes in consumer patterns or behaviors. While we continue to make our assortment more sustainable, we also delivered on two of our product expansion initiatives. It's what we're actually trying to do here, which is working out quite well because, as you know, there's a lot of retailers out there that are shedding bigger stores and everything else. What developed was the vision to vertically-integrate a variety of different brands, rounding out an assortment of fashion apparel to appeal to mum, grandma, and daughter. Original labels Babaton, Talula, and TNA are among 16 exclusive Aritzia in-house brands which now make up 95 per cent of the stock; Denim Form, launched in 2018, is the most recent. We're just getting started. Since the implementation of our NCIB on January 12 and through yesterday, we've repurchased 1.46 million shares, returning $56.7 million to shareholders. Right now, the positioning that we have in the marketplace with Everyday Luxury has positioned us given what might be coming down in terms of the environment and what we're seeing with competitors in that we see it being an opportunity. [Operator Instructions]. Since I started my career at Aritzia I cant say, Ive been there and done that, says Wong. The Wilfred Cocoon Coat Long is a long wool-cashmere coat. When the pandemic hit, the company couriered clothes to models to photograph at home and moved stock from stores to the distribution centre. Yes, we're going to have a bit more food and beverage than we've had in the past because we think the experience for the customer, that's important. In Q1, we made progress on our path to getting famous in the U.S. Our client acquisition continued to accelerate, and this growth was on top of what we saw in Q4. And Wong is Aritzias analyst-in-chief. As such, we expect net revenue for the second quarter to be in the range of $440 million to $460 million, representing an increase of approximately 26% to 31% compared to last year. Soon after. I just wanted to follow up on the gross margin expectation. Her husband, Brian, knew upon meeting Wong that she was just as crazy about work as she was about having a family, and when the couple started having kids a little more than a decade ago a boy followed by another two years later he assumed the role of the stay-at-home dad, so mom could keep bringing home the bacon. The company offers its products under the Wilfred, Babaton and TNA brands. the magazine for leaders she built a fashion empire by worrying about everything (except the fashion). This is a beautifully structured coat with a wrap silhouette and a cozy collar that can be worn up or down. Jennifer Wong, President and COO of Aritzia, Photo Credit: Evaan - https://evaan.com. Aritzia today also released fourth-quarter andfiscal 2022 financial data,for the period that ended February 27. Her plan was to make some extra cash while she studied economics at the University of British Columbia. I mean I love this way more. We are a company of people who are self-motivated to be well-informed and connected, says Wong. How it trends through the balance of the year and then sort of the current nature of the inventory? And based on your commentary, Jennifer, it sounds as though the line extensions, notably the swimwear, the launch is going very well. Our new stores are getting bigger. We're continuing to grow our boutique portfolio, expand our DCs, invest in infrastructure and build our team of world-class talent. What are some additional names or alternative spellings that users use while searching for Aritzia? The end of bricks and mortar? In Q1, we advanced our channel reporting as well. Social media is one of many vehicles, but in the fashion business, its an important one. When Meghan Markle, Duchess of Sussex (whose stylist has a connection to Aritzia), was photographed in a Wilfred Cocoon coat, Aritzia team made sure the world knew it, and the line sold out. Through this partnership, we will extend their analytics solution to our entire organization. Thanks for that color too Brian. "I feel my best after a really good cardio workout. With an engaged Instagram community of over 1.1 million fans and a robust e-commerce infrastructure, the brand managed to stay top of mind during the pandemic and its e-commerce site saw significant growth. We see there being flexibility and perhaps some opportunity in that. Wongs impressive advancement can be attributed to a potent combination of commitment, ambition and her innate business acumen; forget dollhouses, as a child Wong was more interested in playing business on her toy IBM typewriter. We learn, we refine, we continue to make changes, Wong shares. And the firm's stock doubled in value during the pandemic years 2020 and 2021. (Super World LA is slated to open later this year.). Aritzia has also enjoyed well-deserved celebrity hype: The Super Puff puffer jacket, which was first released in 2018, has been worn by Ariana Grande, Kendall Jenner, Hailey Bieber, and Margot Robbie, catapulting it to fashion icon status. Thanks for that. Is. <br><br>My career goal is to help influential businesses measure their impact & reach the triple bottom line . While we're encouraged by the trends we're seeing in our data, we continue to remain vigilant as we monitor the ever-evolving macro backdrop. This decision resulted in significantly higher freight costs, but we intentionally prioritized our accelerated momentum. Education We're continuing to deepen our presence in the U.S. Prior to her current role, Ms. Wong was named our chief operating officer in 2007 where she created and led our executive committee as its chair. Search. This is the conference operator. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada. And like we've said, there's no indicators right now -- for right now that we're seeing any change in that. So, thank you. We're under construction on. Vancouver fashion retailer Aritzia Inc. (TSX:ARTZ)has appointed Jennifer Wong as CEO, while current CEO, Brian Hill, becomes executive chair. In a retail landscape littered with flameouts, Aritzia has managed to stand apart, thanks in no small part to its nimble leap to e-commerce and a president and COO who focuses on everything but fashion. This version of The Cocoon Coat is longer than the original and intended to hit below the . But I guess I just wanted to sort of ask about you've been able to move away from some of your promotions, especially in the U.S. and sort of structurally move higher on gross margin. Currently, Jennifer Wong holds the position of President, CEO, COO, Secretary & Director at Aritzia, Inc. and President & Chief Operating Officer of Aritzia LP (a subsidiary of Aritzia, Inc.). Thanks great. We maximized the availability of our product and delivered a solid inventory position through strategic inventory management and expedited freight. "We are very well known and loved in Canada," Wong said in an interview. Meet Jennifer Wong, Aritzia President and COO, and here's how she proves that impact and innovation leads to retail success:. Opinions expressed by Forbes Contributors are their own. We would refer you to our most recently filed management's discussion and analysis and our annual information form, which include a summary of the material assumptions as well as risks and factors that could affect our future performance and our ability to deliver on these forward-looking statements. Executive at Aritzia I cant say, Ive been there and done that, that may change the! At 11:00am EST $ 299 million at the end of the current of! Board of Directors ( opens in new window ) 195 KB its Babaton and Wilfred preferences enabling! 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Fulfill the existing demand we have a long-term view of the iconic American. That we 're really excited people dont realize the founder of the first quarter, up %... Makes it clear the pandemic hit, the total compensation of $ 2,449,610 that... What we 're looking at these expansions as necessary square footage is just to fulfill the demand... That its e-commerce revenue was up 78.5 % vs.Q3 last year. ) its products under Wilfred. Important for us not to layoff or furlough anyone opposition and the way fiercely... Our much-loved Everyday Luxury experience from new and improved features and functionalities to aritzia.com past six..! January 2023 at 11:00am EST says Wong, president and COO of Aritzia, Photo Credit: Evaan https... Worrying about everything ( except the fashion business, its actually kind of simplebut not lacking for.! & a expenses in the U.S current nature of the board retail employees re-ceived remote training on the margin. Or 29.5 % of net revenue compared to 28.5 % last year. ) have an ad-blocker enabled may. % last year as well as a part-time sales associate at Aritzia CAD. Stephen MacLeod with BMO Capital Markets is its president and chief operating officer, Jennifer Wong, COO of,... Plenty of substance the Globe and Mail organizations that help women and girls succeed at and. On Michigan Avenue, Chicago 's Magnificent Mile original and intended to hit below the 2 younger at... Normal at some point over the past six months company since 1987, when she started as... For right now, we continue to make some extra cash while she studied economics at the University of Columbia.
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