There are 9 older and 1 younger executives at Aritzia. We were especially excited about launching our more sustainable styles page. So we've seen some of the product that during COVID was not really registering with clients. 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. In Q1, our retail business surpassed our expectations as it increased 101% from last year. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada. Demand for our much-loved Everyday Luxury experience from new and loyal clients has continued to exceed our highest expectations. Please note that due primarily to the timing of expedited freight this year versus last year, for the remainder of the year, we expect higher pressure on gross profit margins in the second quarter and for that pressure to subside partially in the third quarter with the opportunity for gross profit margin in the fourth quarter to be slightly positive as we lap elevated freight costs in the back half of last year. All rights reserved. These are all our store footprint increases. Jennifer Wong A wall of windows overlooks the Port of Vancouver. Is the consumer acting any differently around going out and where to work? forms: { Some information may no longer be current. And later this month, we will be publishing our second ESG report and first United Nations Global Compact Communication on progress. Good afternoon, everyone, and thank you for joining us today. 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 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Plus, the people I work with are like family. 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. Aritzia was startedinside the Hill familys80-year-old department store in Vancouver. You are here: Home 1 / Clearway in the Community 2 / Uncategorised 3 / jennifer wong aritzia husband. She pauses to consider. The oldest executive at Aritzia, Inc. is AldoBensadoun, 79, who is the Independent Director. The Community Care program is an extension of Aritzias overall commitment to organizations that help women and girls succeed at work and in life. And I think that we're in it for the long game, as Jen mentioned. Her first big success was managing the Dr. Martens craze, working directly with the British factories to keep the iconic boots in stock. Despite its strong navigation of the pandemic to date, Aritzia has been hit hard. Some information may no longer be current. 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. Its a big buzzword in retail, says Harris, but you can count who does it well on three or four fingers. Since reopening most stores in May, the retailer has continued to keep its digital and bricks-and-mortar businesses in close synch. 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. Can you just give a bit more color behind the change in the fiscal '23 gross margin guidance? 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, thank you. We're under construction on. It was really important for us not to layoff or furlough anyone. And Todd, you gave some commentary around sort of the cadence of pressure as the year unfolds or the rest of the year unfolds. Strategic real estate choices have also always been important to the brand, and Aritzia is growing in that realm and making power moves. 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. Its confidence in knowing weve taken the time to analyze something and make an informed decision., Wong says its not just the employees at the executive level who are responsible for keeping Aritzia cutting-edge. I think the biggest difference is the timing this year. Her plan was to make some extra cash while she studied economics at the University of British Columbia. There are 8 older and 2 younger executives at Aritzia. No Credit Card required. They are part of the Executive team within the C-Suite Department and their management level is C-Level. ", Aritzia said in a statement that Hill has "no immediate plans to make changes in [his] share ownership position. This lays the foundation for more personalization and it forms the strategies we will employ to drive deeper loyalty with every client interaction. Jennifer Wong CEO Aritzia Jennifer Wong is CEO of the Vancouver-based retailer Aritzia Inc. She has executive oversight of a broad portfolio that includes e-commerce, people and. For the year, we are expecting between 250 and 300 basis points of pressure from expedited freight. Please go ahead. Thanks, Jennifer, and good afternoon, everyone. 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. HARRINGTON JACKET MENS CLASSIC RETRO SCOOTER 1970'S VINTAGE BOMBER MOD COAT TOP . 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. This article was published more than 13 years ago. Thank you for participating, and have a pleasant day. Date Download. But management persevered because Wongs analysis showed it was the right long-term decision, strategically, she says. Over time, the collection grew to more than a dozen brands, some featured in standalone boutiques. But its her analytical and organizational talent that make her invaluable. Many of the strategic decisions Aritzia had made in earlier years bore fruit during the crisis. Business in the U.S. is growing faster than that in Canada. From Vancouver to New York City, Jennifer Wong, COO of Aritzia, is styled for success. We delivered gross profit of $181 million, up 66% from the first quarter last year. & Non-Independent Director of Aritzia, the total compensation of Ms Wong at Aritzia is CAD$1,096,831. And we're very much aware of what other people are reporting. I mean, COVID, right? This included improving our product discovery. During the first months of the pandemic, Aritzias e-commerce revenue surged by more than 150% compared to fiscal 2020. With stores closed, Wongs bigger worry was demand, so the company veered hard toward e-commerce. 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. View Jennifer Wong's business profile as Chief Executive Officer at Aritzia. We now expect gross profit margin to decline up to an additional 50 basis points for the year to approximately 100 to 150 basis points down compared to last year, reflecting higher-than-expected inflationary pressure. So just wondering if you can quantify the impact from expedited freights in fiscal '23, specifically? The company offers its products under the Wilfred, Babaton and TNA brands. The retailers rapid growth since going public in 2016 stands in sharp contrast to industry trend lines. From there, she moved through human resources, legal, finance, marketing and technology, and was named COO in 2007. Back Submit. I guess there's two, now Manhattan and now Chicago and they're substantially larger than the stores that you typically build. To date, it has contributed more than $36 million in product donations, financial support and volunteer hours to non-profits and Aritzia Community partners that share its values. Wong has been president and COO at Aritzia since 2015. Meet Jennifer Wong, Aritzia President and COO, and here's how she proves that impact and innovation leads to retail success:. But even that -- I don't -- that's not how we're looking at it. Its fourth-quarter profit jumped113per cent, compared to a year ago, to$34.2 million. callback: cb 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. So just sort of curious what that means for the business? Vegan leather skirt. 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. 210 . 1 clothing retailer in Canada because its tactile browsing experience cant easily be duplicated online. The Vancouver-based company said Wong, who started at Aritzia as a part-time sales associate 35 years ago, will take over day-to-day running of the company on May 21, 2022. 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. 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. They will require some capital, but we actually foresee our sales increasing. As consumer tastes shift and lifestyles change, a multibrand strategy mitigates the risk, says Hill. The company was formerly known as Aritzia Capital Corporation and changed its name to Aritzia Inc. in August 2016. Or do you sort of start at the flagship and then go to eCommerce and then see how clients respond before offering it more broadly? We are focused on driving long-term lasting growth through our strategic initiatives and as always, investing in the infrastructure required to scale for years to come. Our store in SoHo is half the size it should be at 20,000 feet. 85% of our employee base is made up of women, including 67% of our Aritzia Leadership Team; three of six executive officers are female; and 98% of our retail management team are women. What makes Aritzia different, says Wong, is that it values its Canadian roots and is commitment to maintaining its unique culture. 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. And many people dont realize the founder of the iconic brand American Apparel actually hails from Canada. In Q2, we're entering new markets. We see extraordinary growth opportunities ahead, and we're excited to be sharing our multiyear strategic growth plan at Aritzia's Investor Day, the week of October 24. 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. 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. She rose through the ranks from assistant store manager, to manager, to vice-president of operations. We had a terrific start to the year. We have a lot of Canadians with American citizenship working at the SoHo location, says Wong. We will continue purchasing shares opportunistically throughout fiscal 2023. 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; Shes done a great job of putting the strategic dream into place.. It remains to be seen whether COVID-19 will permanently change shopping dynamics. In addition, one of our board committees oversees governance and diversity, which includes consideration for female representation both on our board and in senior management positions. 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. And then that will begin to ease in Q3. 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. And it's exciting to be in the business of fashion. { 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. Our team did a remarkable job this quarter. (Page 3) The We want to make sure our people reflect our brand and exude our culture., One of the challenges Wong faces as a leader of a growing organization is her inability to draw on previous work experiences. the total compensation of Ms Wong at Aritzia is CAD$1,096,831. If I dont feel forward motion, Im less happy.. 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. She dabbled in corporate operationshuman resources, legal, finances, marketing, and technologywas named chief operations officer in 2007 and, in 2015, added president to her title. 2022 Women of Influence.All rights reserved. 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. The company was formerly known as Aritzia Capital Corporation and changed its name to Aritzia Inc. in August 2016. Sent me right away for EKG , . 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. Wong oversaw the engineering of new processes at the distribution centre to allow it to continue supplying online orders, with health personnel on-site and employees working in pods so if someone became ill, only that group was affected. 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. And as always, we put our people first. 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. Aritzia says founder and chief executive Brian Hill is stepping down from the role after leading the clothing retailer for 38 years. Thank you. And so we're anticipating that, that may change over the back half. . One of the things were good at is understanding what our customer wants, she explains. But -- so we see some growth there. They also launched their first paid Instagram campaign with Kendall Jenner in October 2018. Photographed by Eric Soltan - [+] https://www.ericsoltan.com, The Super Puff pop-up shop, which is an immersive pop-up environment that opened in December 2020 in SoHo, is aptly named Super World. Designed to help you build your network, because you never know where that next connection takes you. We better enabled clients to effortlessly shop the 63% of our spring/summer collections made from certified, organic or recycled materials. The push also goes the other way: When Aritzia opened boutiques in Minneapolis and Denver, e-commerce sales in those markets doubled, says Hill. VANCOUVER - Aritzia Inc. says founder and chief executive Brian Hill is stepping down from the role after leading the clothing retailer for 38 years. <br><br>My career goal is to help influential businesses measure their impact & reach the triple bottom line . I run the fashion; she runs the business., During the fateful ides of March, that business faced a catastrophe. Just wanted to get your overall thoughts on where we are -- where your customer is and how they're feeling? We're continuing to deepen our presence in the U.S. Related products. Just trying to sort of unpack that for people that might be concerned about it. Help alpacas suffering right now by urging Aritzia to ban alpaca fleece! All rights reserved. And based on your commentary, Jennifer, it sounds as though the line extensions, notably the swimwear, the launch is going very well. 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. Hi Steve. You may disconnect your lines. 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. Report this profile Report Report. Yes, good afternoon. This represents a collaboration withCause We Care, a Vancouver-based foundation supporting single moms and children living in poverty in Greater Vancouver, including the Downtown Eastside, one of Canadas most underprivileged communities. 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. How much relates to the closures last year expedited freight? Five years ago, she also became president. 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. Aritzia today also released fourth-quarter andfiscal 2022 financial data,for the period that ended February 27. Finance, HR, facilities, logistics, technology, operationsthose are all her. We're hoping that we're also going to get margins and some -- a little bit of leverage to offset some of those inflationary pressures as well. Wallmine is a radically better financial terminal. 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. It was also the year that Vancouver native Jennifer Wong started working at clothing retailer Aritzia. 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. On the call today, I'm joined by Jennifer Wong, our Chief Executive Officer; Todd Ingledew, our Chief Financial Officer; and Brian Hill, our Founder and Executive Chair. (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. listeners: [], Julianne Moore Shines A Light On The Nuance Of Social Justice Work In A New Film From Jesse Eisenberg And Emma Stone, Heineken USA CEO Maggie Timoney On Increasing Inclusion In The Alcohol Industry, How To Develop Your Authentic Leadership Brand, Animator Momo Wang Used Her Tuzki Success To Catapult Her Career In Animation, How This Scrappy Entrepreneur Built Her Business By Creating The Perfect Collaborative Space, Mental Health In The Workplace: Predicted Trends For 2023, For 50 Years The Alliance Of Resident Theatres/New York Has Been Devoted To Help Nonprofit Theaters Make Their Art. Founded in 1984, Aritzia has locations across Canada and has recently expanded to the United States, with two new venues in Santa Clara, Calif., and Seattle. "Aventura Mall is one of the top shopping centers in the U.S. [Operator Instructions] The first question is from Mark Petrie with CIBC. There are 2 executives at Aritzia getting paid more, with Jed Paulson having the highest compensation of $2,449,610. We have carried our strong momentum into Q2 and continue to lay the foundation for long-term lasting growth. Ordering Dr. Martens directly from the factory in England, she recalls, made Aritzia one of only five retailers in Canada to do so. The COVID-19 crisis has borne out the wisdom of Aritzias omnichannel strategy. Irene, I think we launched the Babaton and then we launched TNA, the sport portion of it and now we relaunched -- relaunched Babaton with their second capsule. So we started, in Q3, spending significantly on expedited freight last year. This article was published more than 2 years ago. She grows animated while relating the episode. Jennifer Wong joined Aritzia in 1987. & Non-Independent Director at Aritzia. Develop your readiness for a crisis. Moving to people. There are 2 executives at Aritzia getting paid more, with Jed Paulson having the highest compensation of $2,449,610 . This improvement was achieved primarily from leverage on occupancy and warehousing costs that was amplified as we lapped the boutique closures from last year. Aritzia Inc. is a Canada-based company, which is a design house and fashion boutique. 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. She studied English at Oxford University and earned an MA in creative writing at the University of East Anglia. Download year list. We're continuing to grow our boutique portfolio, expand our DCs, invest in infrastructure and build our team of world-class talent. 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. Leave this field empty if you're human: Jennifer Wong, COO and president at Aritzia, Photo Credit: Evaan - https://evaan.com. ", He added that Wong's leadership style "exemplifies our values, and deeply resonates with and inspires our people.". And ultimately, what we're setting our sights on is ensuring that we keep our eye on the prize for the long-term opportunity. We work hard to create opportunities for young women to join the workforce and gain skills to grow in multiple career paths because championing, supporting, and growing women in leadership and across all levels of our organization is core to our beliefs., Tasha Tilberg with her twins, wearing the Cause Mom collection, a unique collaboration with Cause We [+] Care, Photo Credit: Courtesy of Aritzia. Ms Wong is 51, she's been the Pres, COO, and Corp. Sec. That is why we are thrilled to announce our next global flagship on Michigan Avenue, Chicago's Magnificent Mile. I havent had to go anywhere for career challenges or opportunities, she says. 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. Jennifer Wong she/her. 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. And I'm just curious like how much visibility do you have into those movements? It's a journey through our experience, it's not just something one-dimensional experience for them. They continue to navigate the ongoing headwinds of the global landscape to deliver for our clients and our business. Its critical to note that this is merely the beginning the brand knows it has a lot of work ahead. Information may no longer be current even that -- I do n't -- that 's not just one-dimensional! For more personalization and it 's a journey through our experience, it not. Retro SCOOTER 1970 & # x27 ; S VINTAGE BOMBER MOD COAT TOP since going public in 2016 stands sharp... 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