The company gives each brand a unique aesthetic steered by a dedicated creative team. Aritzia was startedinside the Hill familys80-year-old department store in Vancouver. You can trust us to find something thats going to make you feel great and look great. [Operator Instructions]. 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. (To date, Aritzia boasts ten signature brands ranging in demographic and price point, including TNA, Babaton and Wilfred.). 1 clothing retailer in Canada because its tactile browsing experience cant easily be duplicated online. unlock your potential with a degroote mba emba blended learning part-time mba SG&A as a percent of net revenue is expected to increase approximately 50 to 100 basis points compared to last year, reflecting continued investments in talent and technology to fuel our future growth. The continued momentum in the United States drove net revenue of $207 million in the quarter, an increase of 81% from last year. 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. 1,039 Followers, 784 Following, 31 Posts - See Instagram photos and videos from Jennifer Wong (@jennwongg) jennwongg. Ive been here a long timepeople here werent even born when I started, says Jennifer Wong, president and COO of Canadian fashion and design house, Aritzia. Just wanted to get your overall thoughts on where we are -- where your customer is and how they're feeling? Aritzia CEO Brian Hill first noticed the young sales associate during a visit to the Robson Street store three years after the companys founding in 1984. She worked at the Robson Street location part-time, earning cash to buy clothes from the same store she adored for its hip designs. Dr. Jennifer Wong is very nice, attentive, asked my family background, my parents and siblings names and age and their cause of passing. ProductEmail Finder API Accuracy Pricing Company Email Directory Compare. Looking for somebody else's email? Over time, the company kept investing in the backbone technology and upgrading the online experience, improving the layout, photography, fit information, packaging and many other facets that kept the online experience consistent with the store experience, says CIBCs Petrie. We continue to advance our data and analytics capabilities to empower our team to make informed data-driven decisions. Aritzia generated $818.5 millionof its2022 net revenue in Canada,or about 54.8 per cent,while $676.14 millionin net revenue came from the U.S. 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. SIGN UP FOR OUR THURSDAY NEWSLETTER. Our whole marketing objective is to get famous in the U.S., says Hill. Aritzia is the name on the door, Wong explains, but there is no Aritzia on the labels. Today the three main labels are Babaton, youthful TNA, and breezy Wilfred, with various sub-brands and offshoots such as handbag lines and denim. Designed for enterprising woman who want to get ahead of their career goals by taking a proactive approach. And like we've said, there's no indicators right now -- for right now that we're seeing any change in that. There are 1 executives at Aritzia getting paid more, with Jed Paulson having the highest compensation of $2,449,610. And I think we've held firm in saying that we are -- we see no need at this time to increase or change our pricing. Aritzia's popular TNA sweatsuit, Photo Credit: Courtesy of Aritzia. We were especially excited about launching our more sustainable styles page. Our business in the United States accounted for 51% of net revenue in the first quarter compared to 46% last year. Thanks, and good afternoon, everyone. Aritzia CEO May 2022 Aritzia President & Chief Operating Officer Feb 2015 Aritzia COO 2007 Related Hubs Brian Wong The cheat code. 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. 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. So we're seeing it as an opportunity. The Wilfred Cocoon Coat Long is a long wool-cashmere coat. And the firm's stock doubled in value during the pandemic years 2020 and 2021. I mean I love this way more. The Vancouver-based company, which went. We also advanced our client and sales reporting this quarter, giving us a 360-degree view of our clients and their shopping behaviors. Develop your readiness for a crisis. The latest Super Puffs, now also available for men, are the stars of fall window displays in Aritzias flagship stores, and the company recently opened Super Puff pop-ups in New York and L.A. Stores continue to be the companys primary marketing vehicle. Inventory was $299 million at the end of the first quarter, up 81% from last year. To maintain our momentum, we added new and improved features and functionalities to aritzia.com. Clearly, you guys are feeling cost inflation and many of your competitors even more so with less revenue growth to be able to offset it. We -- as you mentioned, we have less off pricing going on. It 38 years at the helm of the clothing chain, the founder of Aritzia steps down as CEO. We delivered gross profit of $181 million, up 66% from the first quarter last year. 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. There is a tremendous amount going on around us, all of us, and it's a very challenging time for everybody in many different ways. ", There's no denying the job is demanding. & Non-Independent Director at Aritzia. . Search. He's talking. No Credit Card required. Jennifer Wong COO Aritzia LP. Sent me right away for EKG , . Wong dropped off her two school-aged boys at ski school and drove to the office to meet with Hill and Aritzias COVID-19 task force. And so that leverage that we saw from those stores in Q1 or the revenue that those stores then generated this year is coming off in Q2. I've been into some of our stores in the last sort of four, five weeks, both in Manhattan and Chicago and other places and seeing lineups at the fitting rooms, seeing lineups at the cash registers, seeing lineups even in some cases to get into our stores. There's always something going on, and I'm always on my BlackBerry. Thanks for that. (Bloomberg) -- Aritzia Inc. is winning over American teens and 20-somethings with a playbook that looks out of step with today's often bleak retail environment.Most Read from BloombergElon Musk Fan With 2,900% Gain Sees $1.5 Million Wiped AwayT-Mobile Considers Buying Ryan Reynolds's Mint MobileUS Inflation Cools Again, Putting Fed on Track to DownshiftThe Document That Separates Biden and . 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. We also further developed our data warehouse and deepened our partnership with Tableau. Get Aritzia Inc. financial information by email. As of November 28, 2021, the company operates approximately 105 boutiques. Our team is performing extremely well. Are you seeing any change in consumer behavior in Canada or the U.S., be it in basket size or categories? "I thought I would do this until I got a 'real job' in finance after I graduated," says the Vancouver native. 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. This leverage more than offset approximately 500 basis points of erosion from the use of expedited freight as well as inflationary pressures. 2022 Women of Influence. And based on your commentary, Jennifer, it sounds as though the line extensions, notably the swimwear, the launch is going very well. So we're trying to get ourselves in a position as we're actually even spending -- swing the pendulum farther than the other direction. It is not the customer experience we want to in the elevated Everyday Luxury experience, we want to translate to our customers. He's still Aritzia's biggest shareholder with nearly 19 percent of the equity and also controls about 70 percent of the voting power. Find other Emails now. Welcome to Aritzia's First Quarter of Fiscal Year 2023 Earnings Call. Get 5 free searches. And the product doesn't necessarily need to go to all -- through all channels. The U.S. led that growth where traffic increased by almost 50% from last year. But were very analytical, she says. The company was formerly known as Aritzia Capital Corporation and changed its name to Aritzia Inc. in August 2016. What are some additional names or alternative spellings that users use while searching for Aritzia? If I dont feel forward motion, Im less happy.. "The funny thing is, being at Aritzia has far exceeded any career aspirations I could have imagined," says Ms. Wong, noting she was inspired to study finances by her father, a banker and her mentor. 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. But we are seeing pressure on costs and things like that, which we've seen over the last sort of 12 months. Get Contact Info for All Departments. These are all our store footprint increases. I mean we've always talked about new boutiques and repositioned boutiques. When the pandemic hit, the company couriered clothes to models to photograph at home and moved stock from stores to the distribution centre. Its famous neighbours include fashion industry powerhouses like Prada, H&M and Bloomingdales. Given current market conditions, we have increased our pace of planned repurchases. During the first months of the pandemic, Aritzias e-commerce revenue surged by more than 150% compared to fiscal 2020. It's a hip, sexy industry.". Ms. Wong was 18 years old at the time and studying commerce at the University of British Columbia. As the Pres, COO, and Corp. Sec. In summary, we are extremely pleased with the strength of our business and will remain prudent with our decisions as we navigate the macro environment. Day after day, we were figuring out what our next move was going to be., Once the decision was made, they scrambled to put together a communications plan. For example, when she led her team in implementing the Enterprise Resource Planning system, she opted not to follow industry standards. At 5 a.m. on March 15, Wong was in Whistler, B.C., on spring break with her family when she got a call from Hill. So if you could just talk a little bit about some of the attributes that you think should help Aritzia weather this rocky period? The new expectations represent growth of 25% to 27% for the full year. 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. 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. Aritzia Inc. is a Canada-based company, which is a design house and fashion boutique. And then that will begin to ease in Q3. The online infrastructure held up despite days that were as busy as Black Friday and Cyber Monday, says Wong. I mean, COVID, right? I think you've heard us talk about this a lot. They will require some capital, but we actually foresee our sales increasing. View Jennifer Wong's profile on LinkedIn, the world's largest professional community. April 18, 2018 Mandate of the Board of Directors (opens in new window) 195 KB. So I guess -- so what you attribute the ongoing really strong brand momentum, particularly in the U.S. where I think you said you had the double in the customer base. The company offers its products under the Wilfred, Babaton and TNA brands. And nine Canadian apparel retailers have filed for bankruptcy protection so far this year, along with the Canadian operations of seven foreign-owned chains, according to industry research firm Trendex. 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. That's great to hear and very helpful. Can you just give a bit more color behind the change in the fiscal '23 gross margin guidance? Really nice to see the strong momentum and the strong demand continuing. Track performance, allocation, dividends, and risks . That said, we saw key programs and proven sellers continue to resonate with clients and drive our strong demand. Designed to help you build your network, because you never know where that next connection takes you. One of the things were good at is understanding what our customer wants, she explains. Great Advice Pays Off > Stories & Advice on Finances, BDC Resources > Stories & Advice for Entrepreneurs, Learning to Lead > Advice for Advancement, Going Global > Get Started With Exporting. Before that she was vice-president of support operations, manager of a shoe department and astore's assistant manager. As retail director Georgina McMichen leads the way around the flagship store on Torontos posh Bloor Street West, she also points out the expanded selection of sweats and denim. This decision resulted in significantly higher freight costs, but we intentionally prioritized our accelerated momentum. Is the consumer acting any differently around going out and where to work? They spent all Saturday huddled in discussions and on calls with the board. To date, its actions include donating $100,000 to Black Lives Matter and the National Association for the Advancement of Colored People (NAACP); implementing mandatory training and education on systemic racism, racial inequality and social injustice (courses are required for all current and future members of the team; the education covers conscious and unconscious bias, micro-aggressions, stereotypes, inclusive language, privilege, effective ally-ship, and more). Jennifer has 1 job listed on their profile. Theyre not going to be sitting on obsolete inventory if they miss a season., Calibrating trends is not Wongs domain, she admits. Hello! Jennifer Wong is currently Chief Executive Officer at Aritzia - View - Aritzia org chart Set up your alert to follow the career of Jennifer Wong. Thank you. Hill works closely with an in-house team of architects and designers to curate everything from fixtures to artwork to music. . This flexibility is further assisted by the fact that Aritzia buys its own materials, designs its own lines and even shoots its own ads, giving it greater control over pricing and quality, and enabling faster adaptation to trends. Corporate Secretary, and Director of Aritzia, the total compensation of Jennifer Wong at Aritzia is CAD$1,224,000. I'm going to pass that over to Brian because it's a product question, if you don't mind. Aritzias digital concierge platform helps staff serve as personal stylists, giving them access to records of customers' preferences and enabling marketing personalization. (To date in fiscal year 2021, which started March 2, 2020, Aritzia has opened two new boutiques and expanded or repositioned two existing boutiques in Canada, and opened five new boutiques and expanded an existing one in the United States. 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. She certainly has the vision for it: shes credited for the Black Friday 2012 roll-out of Aritzias e-commerce business, making the company one of the first Canadian retailers to bring the annual sale across the border. Strategically, it comes down to our business model. Are you seeing any mix shift? What makes Aritzia different, says Wong, is that it values its Canadian roots and is commitment to maintaining its unique culture. Similar Name to Jennifer Wong. Not the Jennifer Wong you were looking for? So just sort of curious what that means for the business? The pale wood desk in her office is so clean it seems to have been staged for a photo shoot, but she insists it always looks this way. Demand for our much-loved Everyday Luxury experience from new and loyal clients has continued to exceed our highest expectations. Date Download. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada.. And then we're obviously monitoring our usage as well. While commerce was in her bloodher father was a banker, and she used to play business on a toy IBM typewriter as a childshe often sketched textile patterns during class and drove her mother crazy with wilful clothing choices. "Those are really intelligent locations," Patterson said. In 2023, Jennifer will perform her new stand-up show, Jennifer Wong Has No Peripheral Vision, at Adelaide Fringe (14-19 March) and the Melbourne International Comedy Festival (30 March - 9 April). It's really from a building our inventory to be able to meet the demand that we have today and ensuring that we're in the right product. Finally, our eCommerce net revenue was $120 million, an increase of 16%. 2,088 records for Jennifer Wong. Aritzia's fiscal 2022 profit was up by more than eight times: to $156.9 million from $19.2 million. We're under construction on. But to be an effective leader you have to have other influences and other inspirations. For Wong, those are her husband and 18-month old son. And many people dont realize the founder of the iconic brand American Apparel actually hails from Canada. I just sort of -- lots of great ground you've covered so far. 210 . We continue to be one of the industrys leading retailers,and we have a sustainably profitable business, she insists, with the company boasting 21 consecutive years of positive net revenue growth. Aritzia today also released fourth-quarter andfiscal 2022 financial data,for the period that ended February 27. It was really important for us not to layoff or furlough anyone. Please note that remarks on this call may include our expectations, future plans and intentions that may constitute forward-looking statements. The efforts have paid dividends. But its her analytical and organizational talent that make her invaluable. She joined Aritzia as a style advisor in 1987, according to her LinkedIn page. Aritzia Inc., together with its subsidiaries, designs and sells apparels and accessories for women in North America. 784 following. Aritzias sales per square foot are well above its peers, analysts report, and recently opened stores have returned the investments within two years. They also launched their first paid Instagram campaign with Kendall Jenner in October 2018. Download year list. But in the scheme of our growth, it's really going to come down to The United States. Finance, HR, facilities, logistics, technology, operationsthose are all her. On the heels of a successful International Womens Day with its WomenWomen (or Women to the Power of Women) capsule collection and campaign that was released in March 2021, and a 2020 filled with growth, new store openings and a successful e-commerce strategy, Aritzia is making its mark as the destination for everyday luxury. Jennifer Wong joined Aritzia in 1987. It's a journey through our experience, it's not just something one-dimensional experience for them. So the economics work. Jennifer graduated from . 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. As a followup to this capsule collection, Aritzia released a limited-edition collection, Cause Mom, in time for Mothers Day. It remains to be seen whether COVID-19 will permanently change shopping dynamics. I think it's starting with last year is probably the right place to start when you look at the year-over-year growth. Maybe you could just talk a little bit about how that space is going to be utilized? Sophie Grgoire Trudeau, Hailey Bieber and the supermodel Hadid sisters are other famous figures who gave Aritzia a social media boost. The company said today that it plans to open eight to 10 boutiques this year including two stores that it called Forum Shops, which arealready open in Las Vegas and at Miami's Aventura Mall. Adjusted EBITDA was 17.1% of net revenue compared to 16.6% of net revenue last year. Perhaps the embodiment of the Aritzia brand, Wong is effortless, fashionable, and poised. Thank you. 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. Hill"Jennifer WongAritzia "Jennifer Aritzia But it was the decision to vertically integrate in the 1990s that, she says, led to the brands high retention rate. The following day, Aritzia boutiques went dark. Jennifer Wong Stay connected and sign up for our PREVIEW newsletter! "We are very well known and loved in Canada," Wong said in an interview. If you have an ad-blocker enabled you may be blocked from proceeding. Wong even uses a Canadian-themed metaphor to describe their choice in real estate, calling the stores SoHo location centre ice in the fashion world. The boutique boasts rustic wood panels and vintage chandeliers giving it a cabin-chic feeling, while the extremely helpful retail staff oozes with a friendliness thats purely Canadianbecause many of them are. After 33 years, is she not tempted to try something else? Jennifer Wong: Chief Executive Officer of Aritzia: Director; Corporate Governance Documents. I also just wanted to ask a quick question, hopefully about these flagships that you've announced. And more specifically, how that change relates to what you're seeing in terms of challenges in the supply chain, anything noteworthy in terms of shipping times, freight rates or even your use of expedited freight? Women to the Power of Women is a simple equation that drives us and our beliefs forward by amplifying womens voices to make exponential progress towards gender equality and inclusivity for all, Wong explains. While International Women's Day and Women's History Month are notable occasions to celebrate the power of women, Aritzia recognizes women all year long, in leadership and executive roles. Thanks. 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. UDPATE 2: Jennifer Wong, president and COO of Aritizia has told BuzzFeed they are investigating the matter and will be conducting one-on-one meetings with the store's staff as well as. Education So obviously, sometimes real estate and the opportunities don't necessarily present the opportunity for a bigger store. I always have to be moving the peanut forward, so to speak. event : evt, We've been doing a lot of research on this, and we've recently gone on a big trip around all through Europe and United States looking at what others are doing. So one, what are you seeing out there with regards to your competitors? And we're very much aware of what other people are reporting. We're positioned very nicely where we think that we might lose some customers at the bottom, but we will certainly see some customers trading down. . While we continue to make our assortment more sustainable, we also delivered on two of our product expansion initiatives. Preview Subscribe. Hill, who is in his late 50s,said that he remains as dedicated to Aritzia as he did when he founded the venture in 1984, with a first store in Oakridge Centre, and then a second one in Metropolis at Metrotown. 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