In addition, our retail revenue in the first quarter was $288 million, an increase of 101%. I will now turn the conference over to Beth Reed, Vice President, Investor Relations. These are all our store footprint increases. 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. Five years ago, she also became president. I give feedback as a consumer. 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. There are 8 older and 2 younger executives at Aritzia. 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. The chain oozes cool: it often hires DJs to play in its stores. But so far, right now, we are not seeing any changes in consumer patterns or behaviors. So we started, in Q3, spending significantly on expedited freight last year. And so we do see things returning to normal at some point over the course of this year and into next year. Outside brands like Levis make up less than 10% of its sales. In fact, we did, says Wong defiantly, launching the first stores right in the middle of the financial crisis. event : evt, (function() { 31 posts. As a followup to this capsule collection, Aritzia released a limited-edition collection, Cause Mom, in time for Mothers Day. And even our largest stores can only hold 50% of our product at this point in time. But management persevered because Wongs analysis showed it was the right long-term decision, strategically, she says. But whether we're going to sell it now or not, that has not -- is yet to be included. They continue to navigate the ongoing headwinds of the global landscape to deliver for our clients and our business. As an example, Aritzia Inc. founder Brian Hill rejected Jennifer Wong's utility when she initially utilized for a job on the girls's attire firm to be a mode adviser that's, a . 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 . 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. 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. 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. As Todd mentioned, we were grossly under inventory last year when we think we left a lot of sales on the table. & Non-Independent Director at Aritzia. We delivered another quarter of exceptional financial results, again, exceeding our expectations, driven by stronger-than-anticipated demand, particularly in the United States as our brand continues to gain momentum. Meet Jennifer Wong, Aritzia President and COO, and here's how she proves that impact and innovation leads to retail success:. Our whole marketing objective is to get famous in the U.S., says Hill. And Todd, you gave some commentary around sort of the cadence of pressure as the year unfolds or the rest of the year unfolds. But even that -- I don't -- that's not how we're looking at it. 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. 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. The online infrastructure held up despite days that were as busy as Black Friday and Cyber Monday, says Wong. One of the things were good at is understanding what our customer wants, she explains. Follow. Jennifer Wong is our President and COO, a position she has held since 2015. A key reason Aritzia is in this enviable position is its president and chief operating officer, Jennifer Wong. joining us today. In Q1, we were lapping two months of closures versus one month in Q2. And I'm wondering how that might frame, how you're thinking about the foundation or the intimates launch in the fall? ), Architectural and interior photography of Aritzia Super World NYC. But right now, as of today, we haven't seen a material change from the peaks that we've been experiencing over the last six to nine months. Picture by Aritzia Article content material. I think it's starting with last year is probably the right place to start when you look at the year-over-year growth. This. It remains to be seen whether COVID-19 will permanently change shopping dynamics. Our business model continues to enable us to provide our clients with beautiful products for all aspects of their life. Struggling to demonstrate your value as a board member? Our marketing department cringes when I say this, but fundamentally, Aritzia sells clothes, he says. But were very analytical, she says. We were especially excited about launching our more sustainable styles page. & Non-Independent Director of Aritzia, the total compensation of Ms Wong at Aritzia is CAD$1,096,831. 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. 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. { And then that will begin to ease in Q3. on: function(evt, cb) { In addition, it sells its products through online at aritzia.com. Aritzias website, launched in 2012, was more than two years in the making. As consumer tastes shift and lifestyles change, a multibrand strategy mitigates the risk, says Hill. It 38 years at the helm of the clothing chain, the founder of Aritzia steps down as CEO. How much is for product versus other services, dressing rooms or cafes? 1,039 followers. Today, Aritzia is a leader in the retail industry with a world-class team, a loyal community and an exciting future ahead of it. I had a friend call me who is in the business from -- in the U.S. to ask -- to say they had seen some softness for about four weeks. I hadnt even finished my last year exams, Wong explains, her role evolving to key holder and then assistant store manager while she was still studying economics at the University of British Columbia. But Jennifer Wong has given little away because shes been in the office almost every day since the lockdown started, co-ordinating Aritzias pandemic response. I was just hoping you could do a little more handholding on the inventory growth. But we're pretty confident that we're going to end up in a pretty good place here. 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? (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. We opened three new boutiques in the quarter to a tremendous client response, two of which were in new markets, Las Vegas and Miami. Thats about all the details the videoconference screen reveals. The company was formerly known as Aritzia Capital Corporation and changed its name to Aritzia Inc. in August 2016. So we're seeing it as an opportunity. 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. } So we're looking at expanding these. In the past Ms. Wong was Senior Research Analyst at DJ Carmichael Pty Ltd. Ms. Wong received an undergraduate degree from the University of British Columbia. 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. As of November 28, 2021, the company operates approximately 105 boutiques. I'm excited to report our results for the first quarter of fiscal 2023 and our plan for continuing to capitalize on the many growth opportunities we see ahead. All rights reserved. So these aren't just flagship footprint increases. Thank you. 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. We look forward to sharing our long-term targets with you at our upcoming Investor Day. 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. Maybe you could just talk a little bit about how that space is going to be utilized? The campaign features Canadian models (and mothers) Tasha Tilberg and Janice Alida photographed with their children. 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.). } 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. The fundprovidedfinancial continuity to Aritzias people whoweredirectly or indirectly been affected by its store closures due to COVID-19. 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. 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. And so we're anticipating that, that may change over the back half. Please go ahead. VANCOUVER - Aritzia Inc. says founder and chief executive Brian Hill is stepping down from the role after leading the clothing retailer for 38 years. And these new categories are looking down the road and down in the future as we continue to expand. Propelling our business forward has not come without its challenges. And presently, we're not looking at -- we're looking at promoting our swim and things in our stores, for sure, intimates as well. 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. 06-18-2022. And the product doesn't necessarily need to go to all -- through all channels. 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. As such, we expect net revenue for the second quarter to be in the range of $440 million to $460 million, representing an increase of approximately 26% to 31% compared to last year. Please go ahead. I am truly privileged to have the opportunity to lead them. unlock your potential with a degroote mba emba blended learning part-time mba Around the time of the IPO, Wong recalls a TV commentator opining that there was nothing special about its business model; it was just a good executer. And so we did talk a bit about some of the transitory impacts on the gross margin here. Through this partnership, we will extend their analytics solution to our entire organization. Jennifer Wong is the Pres, COO, Corp. Sec. Jennifer Wong was born and raised in Hong Kong. ", During what little free time she has, Ms. Wong loves to hit the gym. Meaghen, I'll take that one. The board was against it, pointing out that Lululemon across the street had done a similar technological transformation at half the cost. So that's what we're looking at doing, and we're super excited about it. For example, when she led her team in implementing the Enterprise Resource Planning system, she opted not to follow industry standards. I mean I love this way more. Are you seeing any change in consumer behavior in Canada or the U.S., be it in basket size or categories? We see there being flexibility and perhaps some opportunity in that. How much relates to the closures last year expedited freight? "In Q2, we made further progress on our path to getting famous in the U.S.," said Aritzia CEO Jennifer Wong on a conference call with analysts Wednesday evening. 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. Please go ahead. 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. Thank you for participating, and have a pleasant day. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada.. 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. Company Overview. All the best. Thanks for that color too Brian.

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