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. The U.S. led that growth where traffic increased by almost 50% from last year. Opinions expressed by Forbes Contributors are their own. Yes, good afternoon. And then as I said, in Q4, we're anticipating that we have the opportunity to move slightly positive from a gross profit perspective. (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 . The enviable position we are in today is a result of our proven long-term view of the business. Jennifer Wong is President, Chief Operating Officer, Corporate Secretary, Director of the company. 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). So we started, in Q3, spending significantly on expedited freight last year. SIGN UP FOR OUR THURSDAY NEWSLETTER (To date, Aritzia boasts ten signature brands ranging in demographic and price point, including TNA, Babaton and Wilfred.). These are all our store footprint increases. Jennifer Wong joined Aritzia in 1987. window.mc4wp = window.mc4wp || { Thats my game, and this was the ultimate stress test, says Wong. 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. One of the things were good at is understanding what our customer wants, she explains. november 2020. "Aventura Mall is one of the top shopping centers in the U.S. And of course, I thank you to our clients and shareholders for their enduring loyalty as we chart our path forward on this incredibly exciting road ahead. This is certainly a time for everybody to listen and learn, and take action as a result of that. With that, I'll now turn the call back to Jennifer. Okay. Thank you. We have the answers for you. It's known for its retail mix, including a substantial roster of luxury brands. So these aren't just flagship footprint increases. & Non-Independent Director of Aritzia, the total compensation of Ms Wong at Aritzia is CAD$1,096,831. Analysts had expected the company to generate about $135.4 million in net revenue. MEDIA ADVISORY REMINDER - Aritzia Fiscal 2021 Q4 earnings release and webcast on Tuesday, May 11th Aritzia's popular TNA sweatsuit, Photo Credit: Courtesy of Aritzia. And then secondarily, wondering how you -- how comfortable you feel about that elevation in gross margin? In addition, it sells its products through online at aritzia.com. unlock your potential with a degroote mba emba blended learning part-time mba The uncertain and dynamic nature of the global COVID-19 pandemic and its ongoing impact could continue to materially alter our performance. "Exercise is a big relief," she says. Hill, a third-generation retailer whose familys Hills of Kerrisdale department store has been a Vancouver fixture for almost a century, put Wong in charge of footwear for Aritzias four stores. Brian is the creative genius behind the brands and how they go to market, and Jennifer is a phenomenal operator. But it's not material at this point. And also interesting Brian's comment about a friend who isn't seeing that. But we actually think as business and demand peels off due to interest rate increases and things like that, that we actually think that, that inflationary pressure might actually ease itself. Despite its linear path, her professional development has been anything but stagnant. We also continued to focus on uplifting and empowering our communities and all the people we serve. 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. So there's a large timing shift, which is what's causing the variability quarter-to-quarter. We celebrated their heart, passion and fearlessness as they pave the way for future generation. Aritzia has long been a closet staple for the fashion-conscious, attracting everyone from 14-year-old girls after its signature TNA leggings, to the stylish over 60s. Aritzia CEO May 2022 Aritzia President & Chief Operating Officer Feb 2015 Aritzia COO 2007 Related Hubs "It's really nice working with a well-received brand," she adds. She has a creative writing PhD on Chinese diaspora poetry at Oxford Brookes University.Wong is the author of the poetry collections Letters Home (Nine Arches Press 2020), which was the PBS Spring 2020 Wild Card Choice; Goldfish . I will now pass the call over to Todd to share a more detailed look at our financials. Todd and I will share some prepared remarks, and Brian will join us for the Q&A. We maximized the availability of our product and delivered a solid inventory position through strategic inventory management and expedited freight. 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. Every new venture is also new to me. She credits the companys success to her knowledge of the brand and a close-knit executive team. Wong joined the retailer in 1987 as a style advisor (the term Aritzia uses to refer to its sales associates) at the Robson street store in Vancouver, while studying economics at the University of British Columbia. 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. 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. And if I could just add something there. During the first months of the pandemic, Aritzias e-commerce revenue surged by more than 150% compared to fiscal 2020. And these aren't just the flagships we're looking to expand. Aritzia's Jennifer Wong built a fashion empire by leading with style - and plenty of substance In a retail landscape littered with flameouts, Aritzia has managed to stand apart, thanks in no. 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. And so we do see things returning to normal at some point over the course of this year and into next year. We better enabled clients to effortlessly shop the 63% of our spring/summer collections made from certified, organic or recycled materials. We're continuing to deepen our presence in the U.S. But Aritzia, the fourth-largest Canadian-owned womens apparel retailer, has a better chance than most chains of coming out strong, if not stronger. Get 20 FREE Email lookups. Jennifer Wong is the president and COO at Aritzia, an innovative design house and fashion boutique that conceives, creates and develops its own exclusive brands, each with a unique vision and. We continue to grow our team with world-class talent. We're focused on setting ourselves up for a successful fall launch with a healthy inventory position and are ready to deliver our first ever intimate collection. ); 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. And then so there could be savings there. Wong was studying economics at the University of British Columbia and planning to get a real job in finance. That was probably two weeks ago and asked if we had, and I was quite political in my response because we had not seen any decreases in our sales and our customer activity whatsoever. Dressed in a dark blouse with white polka dots, her dark blond hair perfectly in place, Wong could be a model for the companys business-casual Babaton label. 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. This leverage more than offset approximately 500 basis points of erosion from the use of expedited freight as well as inflationary pressures. 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. There are 2 executives at Aritzia getting paid more, with JedPaulson having the highest compensation of $2,449,610. The next question is from Stephen MacLeod with BMO Capital Markets. } I mean we've always talked about new boutiques and repositioned boutiques. At the buzzing Vancouver headquarters, the airy and bright interior contrasts with Wongs impeccably cool gym attire, an all-black matching affair boasting the companys on-site fitness centre branding. We need to go beyond that because we don't want to be in a position where we're buying at 70%, expecting increases of 70% and all of a sudden, we have some COVID shutdowns or there's some shipping delays and things like that. "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. Good afternoon. We also partnered with Stonewall to launch our proud today, Pride For Ever Campaign. Our team did a remarkable job this quarter. For example, when she led her team in implementing the Enterprise Resource Planning system, she opted not to follow industry standards. Thanks great. "My job is broader than banking and finances. 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. This. 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. 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. And so we think rather than opening more stores and changing the target on those stores, we're actually thinking the bigger footprints to increase and improve the overall Everyday Luxury experience. 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. We expect capital expenditures in the range of $110 million to $120 million, comprised primarily of new and repositioned boutiques, our new distribution center in the Toronto area and the expansion of our support office. As a followup to this capsule collection, Aritzia released a limited-edition collection, Cause Mom, in time for Mothers Day. 1,039 Followers, 784 Following, 31 Posts - See Instagram photos and videos from Jennifer Wong (@jennwongg) jennwongg. In its Q3 results, Aritzia reported that its e-commerce revenue was up 78.5% vs.Q3 last year. Wondering if it's jennifer@aritzia.com, jennifer.wong@aritzia.com, wong@aritzia.com, or jwong@aritzia.com? For the first quarter, we generated net revenue of $408 million, an increase of 65% from last year. This included improving our product discovery. And we are pleased with the early results we're seeing in our new boutiques and our new markets. } Wong has been at the Canadian womenswear brand for But at this point in time, we're cautiously optimistic that we're going to continue on with the same track we've been on for quite some time now. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada.. Turning to our outlook. The Aritzia secured its New York Super Puff pop-up location, for example, at less than 30 cents on the dollar compared to a few years ago. So we're looking at expanding these. ", Follow us on Twitter: @globebusinessOpens in a new window. And so what we're seeing in, for instance, with our product expansion is we have a wide offering that has a fantastic appeal to our customer, and they're responding well to what we're offering. Wallmine is a radically better financial terminal. [Operator Instructions]. Preview Subscribe. Thanks, Jennifer, and good afternoon, everyone. So we're excited about them. Find Jennifer Wong's phone number, address, and email on Spokeo, the leading online directory for contact information. And while our business is exceptionally good and continues to be exceptionally good, we are, as I said, monitoring very closely for any signs. Vegan leather skirt. So there's a lot of moving parts here on the product, and I'm quite involved on a daily basis and were there just a lot of puts and takes and it will be pretty -- it's pretty hard to determine right now where this whole thing is going to shake out as far as -- and how that's going to affect gross margin over above the areas that Todd has outlined. I think it's great. The campaign features Canadian models (and mothers) Tasha Tilberg and Janice Alida photographed with their children. (Super World LA is slated to open later this year.). 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As Todd mentioned, we were grossly under inventory last year when we think we left a lot of sales on the table. Having spent her entire career at the retailer, she led many of the inconspicuous but essential initiatives that proved so crucial at the start the crisis, from establishing a robust technological infrastructure that enabled the companys e-commerce platform to respond to the sudden demand spike, to developing a centralized distribution system that helped the retailer manage its supply chain while others struggled. Thank you. 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. We opened three new boutiques in the quarter to a tremendous client response, two of which were in new markets, Las Vegas and Miami. Aritzia reported a 40 per cent increase in sales revenue growth in the United States market across its e-commerce platform in its 2019 third quarter. And ultimately, what we're setting our sights on is ensuring that we keep our eye on the prize for the long-term opportunity. } Wong has been an integral part of the companys growth, spearheading the implementation of Aritzias resource planning system and overseeing the companys U.S. expansion, including the June 2011 opening of the New York City store, Aritzias ninth American location. "Retail is seven days a week; we're only closed one day a year," says Ms. Wong, who is married. We've done such a good job to extend all other product expansion initiatives. 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? With every major initiative she took on, she had no direct previous experience, yet she was entrusted with leading it. A new app will also allow advisers to stay in regular touch with customers, even sending packages of curated selections to those who prefer not to come in. After 33 years, is she not tempted to try something else? There's always something going on, and I'm always on my BlackBerry. 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. When we made the decision to close our stores in the middle of March last year, the first thing that was top of mind for us, was our people, Wong shares. 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. Not if you know how to do bricks and mortar right. Aritzia employs 4,617 employees. Aritzia has a ten-year lease on the iconic former Dean & DeLuca space. Please go ahead. In Q1, we were lapping two months of closures versus one month in Q2. We. Aritzias sales per square foot are well above its peers, analysts report, and recently opened stores have returned the investments within two years. This article was published more than 2 years ago. I like to drive things to be solved or fixed or built, Wong says. Since I started my career at Aritzia I cant say, Ive been there and done that, says Wong. In terms of pricing and what we're seeing out there with inflation, we're getting this question a lot. . The website now services over 200 countries worldwide. We're getting good TI packages and everything else. 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. Wong explains the growth of Aritzias e-commerce: Upon the closure of our boutiques, we took immediate action to drive e-commerce revenue, adjusting our product, marketing and operational strategies appropriately. Now that said, as we continue to grow and continue our stores in the U.S., continue to grow on a sales per square foot basis, all of a sudden, that does open up some opportunities down the road for secondary and tertiary stores within markets, which we're certainly going to be looking at and that's -- we have a lot of experience doing so in Canada. Sorry, Mark. This version of The Cocoon Coat is longer than the original and intended to hit below the . The next question is from Irene Nattel with RBC Capital Markets. 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 Vancouver-based company, which went public in 2016, says. Our inventory buys are focused on our proven sellers, and we are confident we are on track to have the product to meet demand through the fall/winter season. It's hard to predict at this point. As consumer tastes shift and lifestyles change, a multibrand strategy mitigates the risk, says Hill. So where we land, we don't know at this point in time. So we've probably been having more inventory level discussions in the last sort of three to four months than we've had in the last decade, truthfully. Email Address * Country * We saw a strong eCommerce growth across all regions, except in Eastern Canada, where there was a channel shift to retail as the closed boutiques from last year were fully open this year. Hi Irene, it's, Jennifer. Please go ahead. 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. When Brian Hill opened the first standalone boutique in 1984, the idea was simple: offer beautiful clothes in aspirational spaces with exceptional service. She worked at the Robson Street location part-time, earning cash to buy clothes from the same store she adored for its hip designs. But its her analytical and organizational talent that make her invaluable. And I think that we're in it for the long game, as Jen mentioned. A strong e-commerce platform has been the single biggest differentiator between winners and losers over the past six months.. 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. Finally, our eCommerce net revenue was $120 million, an increase of 16%. Thanks. Aritzia Inc., together with its subsidiaries, designs and sells apparels and accessories for women in North America. You think of fashion as buyers, creative designersall very glamorous on the outside. She served as an executive sponsor to several successful strategic initiatives, most notably, the . Sorry, I would just add something. We have doubled our U.S. active client base compared to last year. And we've seen less of a response -- we've seen less of a dip in our sales prior to going off price, and we've actually seen less of a pickup since we've been off price. event : evt, "Those are really intelligent locations," Patterson said. This extends beyond selling clothes: Wong says that incorporating socially responsible values through their architecture design and embracing changes in technology are examples of how the brands approach has evolved over the years. Im usually the boring one who has to say, Id never wear that. Hill and Wong have established a clean division of duties. pbs facing death documentary summary; burning american flag emoji copy and paste; cute names for a stuffed squid; unreal engine console commands; what does ashley mean; pheasant run apartments lafayette; Our earnings release, the related financial statements and the MD&A are available on SEDAR as well as the Investor Relations section of our website at aritzia.com. With that, Shah, please open up the line for questions. Similar Name to Jennifer Wong. Our business model continues to enable us to provide our clients with beautiful products for all aspects of their life. And so by covering many different categories across different brands and different occasion sets and different segments of our market, we have an offering that is resonating really well with our customer. Brian was answering the question, but I don't know if we can hear him. 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. I think we're having some technical difficulties here. ( Super World LA is slated to open later this year..! Is headquartered in Vancouver, Canada genius behind the brands and how they go to,. To generate about $ 135.4 million in net revenue was up 78.5 % vs.Q3 last year. ) deepen. Going on, and good afternoon, everyone led that growth where traffic increased by almost 50 % last. Launched our first-ever swim collection, Cause Mom, in Q3, spending significantly on expedited freight well! 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