We were especially excited about launching our more sustainable styles page. Just trying to sort of unpack that for people that might be concerned about it. Jennifer Wong works as a Purchasing Junior Buyer at Aritzia, which is an Apparel & Accessories Retail company with an estimated 6,569 employees; and founded in 1984. And presently, we're not looking at -- we're looking at promoting our swim and things in our stores, for sure, intimates as well. I don't know if the boutiques themselves and the quantity is changing. The board was against it, pointing out that Lululemon across the street had done a similar technological transformation at half the cost. So we started, in Q3, spending significantly on expedited freight last year. Track performance, allocation, dividends, and risks . And the product doesn't necessarily need to go to all -- through all channels. In 1987, U2's A wall of windows overlooks the Port of Vancouver. While she admits that the hours can be gruelling, she doesnt subscribe to the clich work to live, live to work. Jennifer Wong is the Pres, COO, Corp. Sec. Wong was named COO in 2007, and in 2015, was named president & COO of Aritzia. Related products. The following day, Aritzia boutiques went dark. Ms. Wong began her tenure with us in 1987 as a part-time sales associate. 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. <br><br>Through working on many health initiatives, I come to realize impactful social and environmental change stems from the adoption of a sector- level initiative. 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. Learn about their Apparel & Accessories Retail, Retail market share, competitors, and Aritzia's email format. Jennifer served as Chief Operating Officer and President, Chief Operating Officer and Secretary for Aritzia. And then secondarily, wondering how you -- how comfortable you feel about that elevation in gross margin? Our marketing department cringes when I say this, but fundamentally, Aritzia sells clothes, he says. But generally speaking, we changed the size of the stores that we're actually communicating to the landlords that we're after. His fashion retailer has increased in size to 106 stores, including some under banners such asTNA, Babaton and Wilfred. The fundprovidedfinancial continuity to Aritzias people whoweredirectly or indirectly been affected by its store closures due to COVID-19. Outside brands like Levis make up less than 10% of its sales. And as we've mentioned in many calls and many Q&As, we're managing our supply chain costs and our product costs and all of the inflationary costs that we're seeing as tightly and as closely as possible. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada. Thank you. It remains to be seen whether COVID-19 will permanently change shopping dynamics. 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. I like to drive things to be solved or fixed or built, Wong says. 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. Through this partnership, we will extend their analytics solution to our entire organization. & Non-Independent Director at Aritzia. There were many firsts: our first-ever capsule collection,featuringfor the first time our remarkable Aritzia people,and with 100% of proceeds going to our Aritzia Community partner organizations.. Twenty-five years later, Wong is still at Aritzia, and in an era when its not uncommon for young professionals to change careers multiple times, this makes her somewhat of an anomaly. I havent had to go anywhere for career challenges or opportunities, she says. And so rather than being sort of -- Todd, I can't remember what the numbers you just said, our sales were up around 70% and our inventory was up 20% or 30% or whatever those numbers were, we don't just want to get up to 70%. There are 9 older and 1 younger executives at Aritzia. { The arrival of the fall lines is something of a relief, given the spring and summer seasons were largely cancelled by the pandemic. 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. Opinions expressed by Forbes Contributors are their own. Gross profit margin was 44.3% in the quarter, expanding 10 basis points from 44.2% last year. In Canada, we also saw strong sales in our comparable boutiques and benefited from the contribution from the reopened boutiques in Eastern Canada that were closed for two-thirds of the first quarter last year. Aritzia Inc. (OTCPK:ATZAF) Q1 2023 Earnings Conference Call July 07, 2022, 04:30 PM ET Company Participants Beth Reed - VP, IR Jennifer Wong - CEO Todd Ingledew - CFO Brian Hill - Founder. And Todd, you gave some commentary around sort of the cadence of pressure as the year unfolds or the rest of the year unfolds. The efforts have paid dividends. Aritzia's fiscal 2022 profit was up by more than eight times: to $156.9 million from $19.2 million. 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. Jennifer Wong, COO and president at Aritzia, Photo Credit: Evaan - https://evaan.com. With almost 100 boutiques across Canada and the U.S., it plans to open five or six stores this year. 06-18-2022. But its her analytical and organizational talent that make her invaluable. 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. 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. "I'm always on. (function() { ProductEmail Finder API Accuracy Pricing Company Email Directory Compare. Is the consumer acting any differently around going out and where to work? We took the next couple of weeks to analyze our business and during that time, we kept all of our people employed. "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. This concludes the question-and-answer session and today's conference call. 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. We're getting good TI packages and everything else. 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. . I wanted to ask, I guess, just on the sort of price and promotional environment and sort of competitive environment. I have never made it on time to a Christmas Eve function with my family, once. Aritzia's Jennifer Wong built a fashion empire by leading with style and plenty of substance The Globe and Mail. In fact, we did, says Wong defiantly, launching the first stores right in the middle of the financial crisis. This outstanding growth in spite of macro headwinds was driven by the incredible demand for our product across all geographies and all channels. We're extremely pleased with our Q1 results and excited for the future. Maybe you could just talk a little bit about how that space is going to be utilized? No wonder: shes been with the company since 1987, when she joined the Robson Street store as a seasonal style advisor. Wong was studying economics at the University of British Columbia and planning to get a real job in finance. In 1985 Club Monaco moved south, but was eventually sold to the American company Ralph Lauren. 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. "Retail is seven days a week; we're only closed one day a year," says Ms. Wong, who is married. 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. From Vancouver to New York City, Jennifer Wong, COO of Aritzia, is styled for success. This leverage more than offset approximately 500 basis points of erosion from the use of expedited freight as well as inflationary pressures. This. 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. The push also goes the other way: When Aritzia opened boutiques in Minneapolis and Denver, e-commerce sales in those markets doubled, says Hill. But whether we're going to sell it now or not, that has not -- is yet to be included. So the economics work. 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. It didnt lay off any staff, instead shifting many to help with e-commerce and call centre operations. With every major initiative she took on, she had no direct previous experience, yet she was entrusted with leading it. I think we're having some technical difficulties here. We're continuing to deepen our presence in the U.S. "Aritzia has a lot of great brand equity. ", Follow us on Twitter: @globebusinessOpens in a new window. 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. What are some additional names or alternative spellings that users use while searching for Aritzia? And I'm just curious like how much visibility do you have into those movements? 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. Of course, Aritzia isnt the first Canadian fashion retailer to make tracks in the U.S. 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. Find contact's direct phone number, email address, work history, and more. Aritzia has a ten-year lease on the iconic former Dean & DeLuca space. As we continue to respond to client demand and the challenges of the global landscape with flexibility, we are also investing in our business for the future. Good evening, good afternoon. 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.). Report this profile Report Report. 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. She had an ability to cut out the noise and eloquently share an opinion, he says. . You think of fashion as buyers, creative designersall very glamorous on the outside. 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. In recent years, it expanded several flagships, adding coffee shops where style advisers can grab drinks for clients and larger fitting rooms with couches for shoppers' entourages. In Q1, our business sustained its exceptional momentum as we saw strength in all geographies and all channels, particularly in the United States. I noticed you mentioned it was sort of proven sellers, but how much of that is new category extensions? In Q2, we're entering new markets. And so we did talk a bit about some of the transitory impacts on the gross margin here. This was led by growth in the United States, where we saw exceptional comparable sales as well as outstanding performance of our new boutiques, which continue to exceed our sales and payback expectations. 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. >> Rocketreach finds email, phone & social media for 450M+ professionals. Analysts had expected the company to generate about $135.4 million in net revenue. 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. View Jennifer Wong's profile on LinkedIn, the world's largest professional community. Aritzia is a very important part of my life, says Wong. The continued momentum in the United States drove net revenue of $207 million in the quarter, an increase of 81% from last year. And it's exciting to be in the business of fashion. Hill"Jennifer WongAritzia "Jennifer Aritzia One of the amusements of Zoom-enabled remote working has been the chance to peek inside the private lives of colleagues: a bold wallpaper choice here, a child barging in there. A key reason Aritzia is in this enviable position is its president and chief operating officer, Jennifer Wong. Know. Thank you for participating, and have a pleasant day. 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. Aritzia executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. The campaign features Canadian models (and mothers) Tasha Tilberg and Janice Alida photographed with their children. 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? You may disconnect your lines. Wong had set up a war room, its walls covered in charts and reports, and she met there daily with her top lieutenants, sometimes spending 14 hours in their own social bubble inside the otherwise empty head office. Ms. Wong embodies Aritzias culture, championing our business and leadership philosophies. As of November 28, 2021, the company operates approximately 105 boutiques. And later this month, we will be publishing our second ESG report and first United Nations Global Compact Communication on progress. The limitless opportunity to learn is what excites Wong about working at Aritzia. Thanks, and good afternoon, everyone. the magazine for leaders she built a fashion empire by worrying about everything (except the fashion). And then as I said, in Q4, we're anticipating that we have the opportunity to move slightly positive from a gross profit perspective. Sitting criss-cross applesauce in a studio in Vancouver's Railtown neighbourhood, Wong, founder of mobile advertising platform Kiip, isn't afraid to act his age. We continue to advance our data and analytics capabilities to empower our team to make informed data-driven decisions. 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. Ms. Wong embodies Aritzia's culture, championing the business and leadership philosophies. Over the course of Wongs 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. As much as real estate is a priority for Aritzia, the brands digital footprint is also a critical part of its strategy. Aritzia's popular TNA sweatsuit, Photo Credit: Courtesy of Aritzia. But as far as the other inflationary pressures, we're anticipating that those will remain for the rest of the year. Good afternoon, everyone, and thank you for joining us today. Yes, good afternoon. 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. For the first quarter, we generated net revenue of $408 million, an increase of 65% from last year. Today, Aritzia can count 101 boutiques, with the recent opening of its Ala Moana boutique in Honolulu, its first in Hawaii. Meaghen, I'll take that one. Now, Aritzia aims to capitalize on other retailers' woes by snapping up choice locations for pennies on the dollar, even as it expands online. 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. Okay. Today, Aritzia is hitting all the right notes, a testament to the power of selling a trendy product at an attainable price, in elevated yet always inviting store environments. Vancouver fashion retailer Aritzia Inc. (TSX:ARTZ) has appointed Jennifer Wong as CEO, while current CEO, Brian Hill, becomes executive chair. 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. Aritzia forecast revenue for the current quarter to be as much as C$600 million, surpassing analysts' projections of C$525.9 million. Great. Is this happening to you frequently? She rose through the ranks from assistant store manager, to manager, to vice-president of operations. Right now, we're just looking out to Q4 and what happens next year, I think we'll have a better visibility into over the next three to six months. Aritzia CEO May 2022 Aritzia President & Chief Operating Officer Feb 2015 Aritzia COO 2007 Related Hubs As a second wave of COVID-19 threatens to roil retail again, however, even the most painstaking preparations may not be enough. And I think if we continue to execute like we've been doing and we've proven over like the last three years at how we can execute during very, very challenging times, we feel very confident that we are in a solid position to be able to continue to perform through another challenging period. I will now pass the call over to Todd to share a more detailed look at our financials. Aritzia says founder and chief executive Brian Hill is stepping down from the role after leading the clothing retailer for 38 years. And I think that's proven. Right, she says, punctuating each word. 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. The Vancouver-based company, which went. So we're thrilled with what the response is to our product and continues to be. jennifer wong aritzia husband. 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. Education Aritzias sales at its roughly 30 U.S. locations have consistently exceeded expectations, and the market is now its main growth engine. To maintain our momentum, we added new and improved features and functionalities to aritzia.com. A strong e-commerce platform has been the single biggest differentiator between winners and losers over the past six months.. 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. Wong says what she values in life isnt that complicated or luxurious, its actually kind of simplebut not lacking for quality. And so while it looks like a larger increase over the prior year right now, if you take out some of the in-transit that I talked about, we would be down to a 54% increase. But even though I'm always available for work, my career is very important to me. So we're trying to get ourselves in a position as we're actually even spending -- swing the pendulum farther than the other direction. And is there any opportunity in Canada in certain markets where you also think you should upsize the boutiques -- some of the boutiques? These dashboards deliver actionable insights that enable us to further optimize our operations and increasingly more value for our clients. Cropped sweater, softer than a Persian cats fur, for those long days stuck at home. I cover captivating visionaries in fashion & lifestyle. Wanda Costen is leading change in business education. Im usually the boring one who has to say, Id never wear that. Hill and Wong have established a clean division of duties. Wong believes Aritzias first big turning point was the decision in the 1990s to create multiple in-house brands aimed at different demographics, creating an assortment of fashion apparel to appeal to mum, grandma and daughter, as she once described it. We're continuing to grow our boutique portfolio, expand our DCs, invest in infrastructure and build our team of world-class talent. (Page 3) So one, what are you seeing out there with regards to your competitors? While we continue to make our assortment more sustainable, we also delivered on two of our product expansion initiatives. Seen whether COVID-19 will permanently change shopping dynamics % from last year the Port of Vancouver was of... Searching for Aritzia executive Brian Hill is stepping down from the use of expedited as. 1987, U2 's a wall of windows overlooks the Port of Vancouver its store due! 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