Of course, Aritzia isnt the first Canadian fashion retailer to make tracks in the U.S. So as I've been saying in my prepared remarks, we have a long-term view of the business. Wong says what she values in life isnt that complicated or luxurious, its actually kind of simplebut not lacking for quality. But at the same time, I don't think that we're depending on these launches for our sales and driving our growth over the next few years. Our team did a remarkable job this quarter. Hundreds of retail employees re-ceived remote training on the concierge platform, its live-chat features and email marketing. Please. 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. From there she was promoted to vice-president of support operations, and in January 2007, to chief operating officer. I love what we're doing personally. 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). Aritzia was startedinside the Hill familys80-year-old department store in Vancouver. The oldest executive at Aritzia, Inc. is AldoBensadoun, 79, who is the Independent Director. Thank you, Todd. It was also the year that Vancouver native Jennifer Wong started working at clothing retailer Aritzia. The new expectations represent growth of 25% to 27% for the full year. We delivered gross profit of $181 million, up 66% from the first quarter last year. This article was published more than 13 years ago. 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. What could change? Okay. Learn how the brand is doing it, by . Aritzia's net income of $70.7-million for the third quarter of fiscal 2023 was an increase of 8.9% from a year earlier . As Pippa Morgan, executive vice-president of the retail division, puts it: It took 36 years to open 100 stores and 36 hours to close them., In the preceding weeks, Wong and the pandemic task force had spent long days running through scenarios based on infection trajectories, various degrees and durations of closures, and triangulated them with anecdotal reports from staff in different cities. Todd and I will share some prepared remarks, and Brian will join us for the Q&A. 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). The website now services over 200 countries worldwide. Get 20 FREE Email lookups. We're getting good TI packages and everything else. Jennifer Wong is Chief Executive Officer at Aritzia Inc. See Jennifer Wong's compensation, career history, education, & memberships. & Non-Independent Director of Aritzia, the total compensation of Ms Wong at Aritzia is CAD$1,096,831. We look forward to sharing our long-term targets with you at our upcoming Investor Day. There are 1 executives at Aritzia getting paid more, with JedPaulson having the highest compensation of $2,449,610. Back Submit. And just as a follow-up, I assume that, that impact from expedited freight would be incremental to last year. I think it's great. Numerous studies show that having stores in a market drives significant e-commerce activity. This version of The Cocoon Coat is longer than the original and intended to hit below the . Shes done a great job of putting the strategic dream into place.. Jennifer Wong joined Aritzia in 1987. 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. The Community Care program is an extension of Aritzias overall commitment to organizations that help women and girls succeed at work and in life. Ms. Wong was 18 years old at the time and studying commerce at the University of. We do not need jerk react to short-term pressures or transitory pressures and that's why we're holding firm in terms of our pricing strategy. 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. We -- as you mentioned, we have less off pricing going on. We are not seeing indicators at this time. 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. And Wong is Aritzias analyst-in-chief. For example, when she led her team in implementing the Enterprise Resource Planning system, she opted not to follow industry standards. I just sort of -- lots of great ground you've covered so far. Turning to our outlook. We have one in Winnipeg. For the year, we are expecting between 250 and 300 basis points of pressure from expedited freight. The oldest executive at Aritzia, Inc. is AldoBensadoun, 79, who is the Independent Director. Analysts had expected the company to generate about $135.4 million in net revenue. 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. This outstanding growth in spite of macro headwinds was driven by the incredible demand for our product across all geographies and all channels. Thank you. 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. Presently, we're repositioning three in Toronto from sort of 4,000, 5,000 feet up to 15,000, 20,000 feet. "I thought I would do this until I got a 'real job' in finance after I graduated," says the Vancouver native. The next question is from Patricia Baker with Scotiabank. A long-term shift toward more casual clothing may permanently impair its Babaton and Wilfred labels. The next question is from Irene Nattel with RBC Capital Markets. How it trends through the balance of the year and then sort of the current nature of the inventory? 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. The company offers its products under the Wilfred, Babaton and TNA brands. We have carried our strong momentum into Q2 and continue to lay the foundation for long-term lasting growth. meet aritzia's jennifer wong, one of canada's 50 best executives. (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 . Track performance, allocation, dividends, and risks . We plan to continue to leverage our strong balance sheet to make strategic investments to drive sustained profitable growth into the future and deliver meaningful shareholder value. I think we're having some technical difficulties here. A year from now, Canadian apparel retailing will look exactly the same as it did a year ago, and the COVID period will be viewed as a bad dream. While consumers might make fewer trips to malls, clothing is less vulnerable to the e-commerce shift than sectors like groceries because its not a commodity. My gig here is to build the infrastructure to enable our growth, says Wong. While Aritzia is no stranger to designing its own signature brands, it created a limited-edition capsule collection to celebrate an equation at the heart of it all Women to the Power of Women which dropped ahead of International Womens Day, this past March. Jennifer Wong COO Aritzia LP. [Operator Instructions] The first question is from Mark Petrie with CIBC. (Page 3) She has been instrumental in accelerating our growth and will lead Aritzia in capitalizing on the incredible opportunities we see ahead. the total compensation of Ms Wong at Aritzia is CAD$1,096,831. For the full year, we have increased our net revenue expectations to a range of $1.875 billion to $1.9 billion from our previous outlook of $1.8 billion. Get Aritzia Inc. financial information by email. And so we're looking at that. 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. The 'Super' Success Of Aritzia: Jennifer Wong, President And COO, Leads With Impact Over the course of Jennifer Wong's tenure with Aritzia, the company has grown from a Canadian retail. Help alpacas suffering right now by urging Aritzia to ban alpaca fleece! So we're thrilled with what the response is to our product and continues to be. Its famous neighbours include fashion industry powerhouses like Prada, H&M and Bloomingdales. Please go ahead. We continue to focus on empowering our clients to shop with us wherever, whenever and however they want. So if we're just thinking about how this might roll off going forward, and what piece of that would you expect to the stick going forward? She served as an executive sponsor to several successful strategic initiatives, most notably, the launch of our eCommerce business (2012), implementation of our enterprise resource planning system (2008), relocation of our distribution centre (2008) and our . I will now turn the conference over to Beth Reed, Vice President, Investor Relations. After 33 years, is she not tempted to try something else? We celebrated their heart, passion and fearlessness as they pave the way for future generation. Following management's discussion, we'll host a question-and-answer period open to analysts and investors. And so what we're seeing now is getting ourselves back into a position where we feel comfortable with our inventory levels. Jennifer Wong, who began her career at Aritzia as a style advisor in 1987 and worked her way up the ranks, became CEO in May. Our liquidity position remains strong with $179 million in cash and zero drawn on our $175 million revolving credit facility. It didnt lay off any staff, instead shifting many to help with e-commerce and call centre operations. Find Jennifer Wong's phone number, address, and email on Spokeo, the leading online directory for contact information. Sorry, Mark. 5 5 0. "It sounds like they've made a really good decision overall, in terms of picking someone loyal to the company, tocontinue to move itforward," said retail analyst and Retail Insider Media owner Craig Patterson. Find other Emails now. 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. VANCOUVER - Aritzia Inc. says founder and chief executive Brian Hill is stepping down from the role after leading the clothing retailer for 38 years. 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. Aritzia employs 4,617 employees. In addition, our retail revenue in the first quarter was $288 million, an increase of 101%. All the best. Is this happening to you frequently? 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. They also launched their first paid Instagram campaign with Kendall Jenner in October 2018. Wong has been president and COO at Aritzia. Despite the challenges, our beautiful product assortment, best-in-class distribution centre, aspirational website, and response from our loyal clientele led to e-commerce growth in excess of 150% through the end of May 2020.. Thanks for that color too Brian. Ms. Wong began her tenure with us in 1987 as a part-time sales associate. She worked at the Robson Street location part-time, earning cash to buy clothes from the same store she adored for its hip designs. Adjusted EBITDA was 17.1% of net revenue compared to 16.6% of net revenue last year. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada.. 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. And later this month, we will be publishing our second ESG report and first United Nations Global Compact Communication on progress. 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.. involvement of Jennifer Wong. Brian Wong The cheat code. Please go ahead. Wong was 18 years old when she started working as a part-time sales associate at Aritzia in 1987. Please go ahead. The company was formerly known as Aritzia Capital Corporation and changed its name to Aritzia Inc. in August 2016. Aritzia is a very important part of my life, says Wong. This is the conference operator. I was just hoping you could do a little more handholding on the inventory growth. But even that -- I don't -- that's not how we're looking at it. And so we do see things returning to normal at some point over the course of this year and into next year. The company has identified roughly 100 locations that could support stores, and given the troubles of its retail competitors, there are many deals to be had. Good afternoon, everyone. 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. So there's a large timing shift, which is what's causing the variability quarter-to-quarter. "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. The campaign features Canadian models (and mothers) Tasha Tilberg and Janice Alida photographed with their children. . This reflects continued strength in the United States in both retail and eCommerce as well as a strong recovery of our business in Canada. ); Designed for executives who want to optimize their leadership potential and continue to establish their legacy. Jennifer has 1 job listed on their profile. And these new categories are looking down the road and down in the future as we continue to expand. >> Rocketreach finds email, phone & social media for 450M+ professionals. By evening, the decision was made: We had to close all the stores in an abundance of caution, Wong recalls. Jennifer Wong, COO and president at Aritzia, Photo Credit: Evaan - https://evaan.com. 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. & Non-Independent Director at Aritzia. We learn, we refine, we continue to make changes, Wong shares. 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. In fact, we did, says Wong defiantly, launching the first stores right in the middle of the financial crisis. Ms. Wong embodies Aritzias culture, championing our business and leadership philosophies. To maintain our momentum, we added new and improved features and functionalities to aritzia.com. I mean, COVID, right? 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. That's great. 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%. For the first quarter, we generated net revenue of $408 million, an increase of 65% from last year. With that, Shah, please open up the line for questions. 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. We also further developed our data warehouse and deepened our partnership with Tableau. Meet Jennifer Wong, Aritzia President and COO, and here's how she proves that impact and innovation leads to retail success:. 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. For one, having control over its supply chain gave the retailer the ability to essentially stop the presses on some inventory orders for spring and summer. Business in the U.S. is growing faster than that in Canada. 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. Current Issue. 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. We still see the U.S. as there's a lot of white space there and ensuring that we continue to build the foundation for getting famous and propelling our brand and providing that exceptional client service that we are known for, that's what will keep us in the game, so to speak. Search. And a puffy goose-down parkaoversized, like the yellow one Justin Biebers wife, Hailey, sported around Toronto last year. She studied English at Oxford University and earned an MA in creative writing at the University of East Anglia. No wonder: shes been with the company since 1987, when she joined the Robson Street store as a seasonal style advisor. We have the answers for you. "Exercise is a big relief," she says. Thank you. What is the salary of Ms Wong? But even though I'm always available for work, my career is very important to me. April 18, 2018 Mandate of the Board of Directors (opens in new window) 195 KB. Todd and I will share some prepared remarks, and Brian will join us for the Q&A. Im usually the boring one who has to say, Id never wear that. Hill and Wong have established a clean division of duties. SIGN UP FOR OUR THURSDAY NEWSLETTER. Excluding this region, eCommerce grew 25% in the quarter, reflecting growth in traffic from new and existing clients. If I could add a little bit, we are seeing some -- we haven't seen it come through because the product hasn't arrived yet. Jennifer Wong is the Pres, COO, Corp. Sec. Today, Aritzia is a leader in the retail industry with a world-class team, a loyal community and an exciting future ahead of it. So the economics work. Its famous neighbours include fashion industry powerhouses like Prada, H&M and Bloomingdales. Know. Thanks so much for that color. We're going to see that inflationary pressure on the products coming in. In 1987, U2's Sophie Grgoire Trudeau, Hailey Bieber and the supermodel Hadid sisters are other famous figures who gave Aritzia a social media boost. HARRINGTON JACKET MENS CLASSIC RETRO SCOOTER 1970'S VINTAGE BOMBER MOD COAT TOP . 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. . It 38 years at the helm of the clothing chain, the founder of Aritzia steps down as CEO. As the President, Chief Operating Officer, Corporate Secretary, and Director of Aritzia, the total compensation of Jennifer Wong at Aritzia is CAD$1,224,000. The Vancouver-based company, which went public in 2016, says. And so we're anticipating that, that may change over the back half. So we're looking at these expansions as necessary square footage is just to fulfill the existing demand we have from our consumers. And as Jen mentioned, we're going to monitor all the other aspects of this. In Q1, we advanced our channel reporting as well. What are some additional names or alternative spellings that users use while searching for Aritzia? Please send e-mails to the following: Brian Hill, Chief Executive Officer, at [email protected] Jennifer Wong, President & Chief Operating Officer, at [email protected] Then fill out the form below to urge other Aritzia executives to end all alpaca fleece sales immediately. We have doubled our U.S. active client base compared to last year. unlock your potential with a degroote mba emba blended learning part-time mba We are a company of people who are self-motivated to be well-informed and connected, says Wong. This leverage more than offset approximately 500 basis points of erosion from the use of expedited freight as well as inflationary pressures. 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. She joined Aritzia as a style advisor in 1987, according to her LinkedIn page. Wong embodies Aritzia's culture, championing our business and leadership philosophies. 1,039 Followers, 784 Following, 31 Posts - See Instagram photos and videos from Jennifer Wong (@jennwongg) jennwongg. 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. In eCommerce, we saw our traffic grow further in Q1. 784 following. Now, Aritzia aims to capitalize on other retailers' woes by snapping up choice locations for pennies on the dollar, even as it expands online. MEDIA ADVISORY REMINDER - Aritzia Fiscal 2021 Q4 earnings release and webcast on Tuesday, May 11th And I'm just curious like how much visibility do you have into those movements? Thank you, and thanks for joining Aritzia's first quarter fiscal 2023 earnings call. 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. 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. 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. From there, she moved through human resources, legal, finance, marketing and technology, and was named COO in 2007. Yes. In its Q3 results, Aritzia reported that its e-commerce revenue was up 78.5% vs.Q3 last year. We focused on enhancements to our eCommerce and Concierge dashboards. Hi Irene, it's, Jennifer. 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. As of November 28, 2021, the company operates approximately 105 boutiques. The end of bricks and mortar? One of the initiatives Wong is most proud of is implementing a SAP enterprise management system in 2007. Please go ahead. And what scenarios would have to play out to see some of those programs return or gross margins go back to prior levels? So just sort of curious what that means for the business? A key reason Aritzia is in this enviable position is its president and chief operating officer, Jennifer Wong. 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 . Her first big success was managing the Dr. Martens craze, working directly with the British factories to keep the iconic boots in stock. And can I add something there, too, please? not legally required to provide 'quantitative data' on meeting GHG targets, court rules, New fund offered to beleaguered forestry sector, Kennedy Stewart returns to university, may not be done with politics, Head of ICBC takes over as president of BC Ferries, Geoscience BC publishes carbon sequestration atlas. Aritzia today also released fourth-quarter andfiscal 2022 financial data,for the period that ended February 27. This increase includes higher in-transit inventory due to the strategic decision to order and ship our fall product earlier. We will continue purchasing shares opportunistically throughout fiscal 2023. window.mc4wp = window.mc4wp || { There are 9 older and 1 younger executives at Aritzia. 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. Please go ahead. "Those are really intelligent locations," Patterson said. 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. Plus, the people I work with are like family. Preview Subscribe. 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? There are 2 executives at Aritzia getting paid more, with Jed Paulson having the highest compensation of $2,449,610. The limitless opportunity to learn is what excites Wong about working at Aritzia. Brian is the creative genius behind the brands and how they go to market, and Jennifer is a phenomenal operator. During the first months of the pandemic, Aritzias e-commerce revenue surged by more than 150% compared to fiscal 2020. Perhaps the embodiment of the Aritzia brand, Wong is effortless, fashionable, and poised. And so therefore, obviously, the first half of this year, we're lapping a period where we didn't spend significantly. We might be down 10% from the peak is what we're seeing. 1,039 followers. Product is at the center of everything that we do and ensuring we have the right product at the right place and at the right price, quite frankly, at the right time is key to everything that we do. Really nice to see the strong momentum and the strong demand continuing. 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The decision was made: we had to close all the stores an. Stores in may, the retailer has continued to keep the iconic in... I assume that, that impact from expedited freight as well as part-time!, in time for mothers Day Aritzia brand, Wong shares Cocoon is. 'Re anticipating that, that impact from expedited freight would be incremental to last year formerly... Wong embodies Aritzia & # x27 ; s 50 best executives packages and everything else October 2018 Toronto. With CIBC is Jennifer Wong jennifer wong aritzia husband COO, Corp. Sec the same store she adored for its hip designs out! By more than 150 % compared to last year Non-Independent Director of Aritzia steps down as CEO generate about 135.4! Good TI packages and everything else 20,000 feet in implementing the Enterprise Resource Planning system, she opted not follow. Scooter 1970 & # x27 ; s culture, championing our business and leadership philosophies succeed at work and January! Genius behind the brands and how they go to market, and in life isnt complicated. The time and studying commerce at the Robson Street location part-time, earning to! Host a question-and-answer period open to analysts and investors tenure with us wherever, and., but you can count who does it well on three or four fingers to focus empowering. Pricing going on really nice to see some of those programs return or gross go. Directly with the company to generate about $ 135.4 million in cash zero... Generated net revenue last year the U.S. is growing faster than that in Canada to. 38 years at the time and studying commerce at the University of East Anglia & M and Bloomingdales revenue. 16.6 % of net revenue last year period where we did, says Harris, but you count! S culture, championing our business and leadership philosophies native Jennifer Wong started working a! Response is to build the infrastructure to enable our growth, says Wong,... Wong about working at clothing retailer Aritzia to last year Aritzia steps down as CEO Coat! The foundation for long-term lasting growth back half Aritzia today also released fourth-quarter andfiscal 2022 financial data, for year! Work and in life isnt that complicated or luxurious, its live-chat features and functionalities to aritzia.com neighbours include industry.
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