She rose through the ranks from assistant store manager, to manager, to vice-president of operations. MEDIA ADVISORY REMINDER - Aritzia Fiscal 2021 Q4 earnings release and webcast on Tuesday, May 11th This leverage more than offset approximately 500 basis points of erosion from the use of expedited freight as well as inflationary pressures. The uncertain and dynamic nature of the global COVID-19 pandemic and its ongoing impact could continue to materially alter our performance. 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. She has been instrumental in accelerating our growth and will lead Aritzia in capitalizing on the incredible opportunities we see ahead. 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. 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. Aritzia Inc. (OTCPK:ATZAF) Q1 2023 Earnings Conference Call July 7, 2022 4:30 PM ET, Thank you for standing by. Moving to people. We deepened our partnership with the Stonewall Community Foundation. Following management's discussion, we'll host a question-and-answer period open to analysts and investors. With every major initiative she took on, she had no direct previous experience, yet she was entrusted with leading it. Their tireless hard work, dedication and resilience is unmatched and is what delivered another exceptional quarter. I noticed you mentioned it was sort of proven sellers, but how much of that is new category extensions? 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. Please go ahead. The Community Care program is an extension of Aritzias overall commitment to organizations that help women and girls succeed at work and in life. We look forward to sharing our long-term targets with you at our upcoming Investor Day. As of November 28, 2021, the company operates approximately 105 boutiques. 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. 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. Get Jennifer Wong's email address (j*****@aritzia.com) and phone number (604-805-..) at RocketReach. Over time, the collection grew to more than a dozen brands, some featured in standalone boutiques. 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. (The company even has a mens collection for the first time in 36 years, after the celebrity-driven puff coat craze spilled over the gender line.) . Wallmine is a radically better financial terminal. "Wongknows the companyinside and out, and upside down at this point. 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. 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.). Opinions expressed by Forbes Contributors are their own. The Aritzia management team includes David Labistour (Board Member), Todd Ingledew (Chief Financial Officer), and Jennifer Wong (Chief Executive Officer) . And so we do see things returning to normal at some point over the course of this year and into next year. Open Your Heart. } The company gives each brand a unique aesthetic steered by a dedicated creative team. Designed for executives who want to optimize their leadership potential and continue to establish their legacy. View Jennifer Wong's business profile as Chief Executive Officer at Aritzia. 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. Adjusted EBITDA was 17.1% of net revenue compared to 16.6% of net revenue last year. Wong has been president and COO at Aritzia. 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%. Client demand is showing no signs of letting up across all geographies and all channels. 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. 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. In Q1, we launched our first-ever swim collection, and we extended our footwear offering through our first partnership with Vans. It's known for its retail mix, including a substantial roster of luxury brands. 2,088 records for Jennifer Wong. No wonder: shes been with the company since 1987, when she joined the Robson Street store as a seasonal style advisor. . Get Aritzia Inc. financial information by email. Ms. Wong embodies Aritzias culture, championing our business and leadership philosophies. That is why we are thrilled to announce our next global flagship on Michigan Avenue, Chicago's Magnificent Mile. In 1987, U2's Jennifer Wong joined Aritzia in 1987. Prior to her current role, Ms. Wong served as President & Chief Operating Officer for seven years as part of her overall 35-year tenure at Aritzia. 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. These are your fall 2020 must-haves, and Aritzias got them all. Were super thrilled about it, says Wong of their new flagship boutique. It's a hip, sexy industry.". And these aren't just the flagships we're looking to expand. Wong embodies Aritzia's culture, championing our business and leadership philosophies. 2022 Women of Influence. 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. Get Contact Info for All Departments. How much is for product versus other services, dressing rooms or cafes? I think you've heard us talk about this a lot. 1,039 Followers, 784 Following, 31 Posts - See Instagram photos and videos from Jennifer Wong (@jennwongg) jennwongg. And if I could just add something there. We will continue purchasing shares opportunistically throughout fiscal 2023. Team Members. 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. "Exercise is a big relief," she says. Right, she says, punctuating each word. 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.. "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. Our whole marketing objective is to get famous in the U.S., says Hill. 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. 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. Please go ahead. Todd and I will share some prepared remarks, and Brian will join us for the Q&A. So that's why we've baked in that additional 50 basis points of pressure, and we are starting to see some easing in the -- on the logistics side from a sea freight and an air freight cost perspective and even a little bit on the timing. Thank you, and thanks for joining Aritzia's first quarter fiscal 2023 earnings call. We're also expanding our presence in Palo Alto with a new boutique for the fall. Vegan leather skirt. The retailers rapid growth since going public in 2016 stands in sharp contrast to industry trend lines. The board was against it, pointing out that Lululemon across the street had done a similar technological transformation at half the cost. Sent me right away for EKG , . They also launched their first paid Instagram campaign with Kendall Jenner in October 2018. Jennifer Wong, COO and president at Aritzia, Photo Credit: Evaan - https://evaan.com. 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. What makes Aritzia different, says Wong, is that it values its Canadian roots and is commitment to maintaining its unique culture. 2022 Women of Influence.All rights reserved. As the Pres, COO, and Corp. Sec. We -- as you mentioned, we have less off pricing going on. So we've seen the mix of what we're selling has changed dramatically, but the actual uptake has not changed whatsoever as Jennifer mentioned. Vancouver fashion retailer Aritzia Inc. (TSX:ARTZ)has appointed Jennifer Wong as CEO, while current CEO, Brian Hill, becomes executive chair. Clearly, you guys are feeling cost inflation and many of your competitors even more so with less revenue growth to be able to offset it. But we just have not seen an erosion of our sales per square foot as we've increased the size of our stores. Great. But generally speaking, we changed the size of the stores that we're actually communicating to the landlords that we're after. The 100 basis point increase reflects the elimination of subsidies year-over-year and ongoing investments in talent and technology to deliver our growth. And also interesting Brian's comment about a friend who isn't seeing that. There's always something going on, and I'm always on my BlackBerry. In fact, we did, says Wong defiantly, launching the first stores right in the middle of the financial crisis. Good afternoon, everyone. & Non-Independent Director of Aritzia, the total compensation of Ms Wong at Aritzia is CAD$1,096,831. I just wanted to follow up on the gross margin expectation. It remains to be seen whether COVID-19 will permanently change shopping dynamics. Her plan was to make some extra cash while she studied economics at the University of British Columbia. So the economics work. the magazine for leaders she built a fashion empire by worrying about everything (except the fashion). A strong e-commerce platform has been the single biggest differentiator between winners and losers over the past six months.. 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. 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.. 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. 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. She served as an executive sponsor to several successful strategic initiatives, most notably, the implementation of our new point of sale system (2017), launch of our eCommerce business (2012), implementation of our enterprise resource planning system (2008), relocation of our distribution centre (2008) and our U.S. expansion (2007). But whether we're going to sell it now or not, that has not -- is yet to be included. We're continuing to grow our boutique portfolio, expand our DCs, invest in infrastructure and build our team of world-class talent. So we look at our channels, and we look at our -- both our -- all our channels, whether that be our Concierge and everything else as well. Jennifer Wong is Chief Executive Officer at Aritzia Inc. See Jennifer Wong's compensation, career history, education, & memberships. So we're trying to get ourselves in a position as we're actually even spending -- swing the pendulum farther than the other direction. But we are seeing pressure on costs and things like that, which we've seen over the last sort of 12 months. Other celebrity sightings led to stock sellouts, which further fuelled the buzz. Shes done a great job of putting the strategic dream into place.. To boost sales, Aritzia invested in an Instagram campaign with Kendall Jenner, who reportedly gets north of US$500,000 per post. These results are exceptional, demonstrating the strength of our business as we continue to drive ongoing momentum in the United States and Canada returns to full strength and all accomplished in spite of impacts from ongoing global supply chain disruptions and the challenging macro environment. So, whatever the customer wants, we will give her.. It forecasts the countrys clothing sales will plunge 30% from 2019; the biggest previous one-year drop, in 2009, was 2.3%. We were planning for a lot worse. But the recent resurgence of the virus makes it clear the pandemic isnt over, which could mean more emergencies ahead. Report this profile Report Report. 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 so we're super excited. And like I said in the prepared remarks, we have not seen any indicator sales being at the top line, but we have not seen any indicators, whether it be traffic to our website or average transaction size or average selling price. We have one in Winnipeg. There are 1 executives at Aritzia getting paid more, with Jed Paulson having the highest compensation of $2,449,610. The success of our geographic expansion strategy builds on our already flourishing boutique portfolio and positions Aritzia for continued growth into the future. Cropped sweater, softer than a Persian cats fur, for those long days stuck at home. Hello! Turning to our outlook. I run the fashion; she runs the business., During the fateful ides of March, that business faced a catastrophe. Looking for somebody else's email? She became COO in 2007. It was really important for us not to layoff or furlough anyone. Aritzias sales per square foot are well above its peers, analysts report, and recently opened stores have returned the investments within two years. Excluding this region, eCommerce grew 25% in the quarter, reflecting growth in traffic from new and existing clients. SIGN UP FOR OUR THURSDAY NEWSLETTER Propelling our business forward has not come without its challenges. That helps them be nimble in periods of market disruption, particularly through COVID, says MacLeod. So we've seen some of the product that during COVID was not really registering with clients. However, upon graduating in 1991, Aritzia's president and CEO, Brian Hill, gave her an offer she couldn't refuse, and she became a buyer. Leisurewear is selling a lot more.. For the first quarter, we generated net revenue of $408 million, an increase of 65% from last year. Gross profit margin was 44.3% in the quarter, expanding 10 basis points from 44.2% last year. Get 20 FREE Email lookups. (To date, Aritzia boasts ten signature brands ranging in demographic and price point, including TNA, Babaton and Wilfred.). We analyzed everything left to right, top to bottom, Wong says. 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. 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. 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. Wallmine is a radically better financial terminal. Jennifer Wong is our President and COO, a position she has held since 2015. As a fashion brand that is leading with empathy, action and innovation, and an optimistic story in the retail landscape, Aritzia is experiencing success by doubling down on a formula that is working. 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. We see there being flexibility and perhaps some opportunity in that. Hi Irene, it's, Jennifer. Aritzias sales at its roughly 30 U.S. locations have consistently exceeded expectations, and the market is now its main growth engine. 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 launches have gone extremely well. 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. 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. We have the answers for you. 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 distinct aesthetic point of view. 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's net income of $70.7-million for the third quarter of fiscal 2023 was an increase of 8.9% from a year earlier . Finance, HR, facilities, logistics, technology, operationsthose are all her. Date Download. With that, I would like to thank everyone for their support and kind words as I have stepped into the role of CEO and a big thank you to all of our people across our boutiques, Concierges, distribution centers and support office. During the first months of the pandemic, Aritzias e-commerce revenue surged by more than 150% compared to fiscal 2020. Jennifer Wong began at Aritzia as a salesman 35 years in the past. 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. Hill"Jennifer WongAritzia "Jennifer Aritzia She studied English at Oxford University and earned an MA in creative writing at the University of East Anglia. This decision resulted in significantly higher freight costs, but we intentionally prioritized our accelerated momentum. Please disable your ad-blocker and refresh. We're going to see that inflationary pressure on the products coming in. This reflects continued strength in the United States in both retail and eCommerce as well as a strong recovery of our business in Canada. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada. The arrival of the fall lines is something of a relief, given the spring and summer seasons were largely cancelled by the pandemic. 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. 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. So we're looking at expanding these. The next question is from Patricia Baker with Scotiabank. The Aritzia store at the McArthurGlen Designer Outlet Vancouver mall opened in mid-2020 | Rob Kruyt, Rob Shaw: Eby selects Penny Ballem as his special adviser on health, Eby announces $90M jobs fund to boost BC forestry economy, Inside Vancouver Mayor Ken Sims first six weeks in office, B.C. 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. 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 havent had to go anywhere for career challenges or opportunities, she says. 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. Yes, good afternoon. 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? We are a company of people who are self-motivated to be well-informed and connected, says Wong. Leave this field empty if you're human: Selling in our professional and fashion assortment increased as our clients begin to return to the office, social events and travel, all while maintaining our momentum in lifestyle apparel. Analysts had expected the company to generate about $135.4 million in net revenue. Jennifer Wong: Chief Executive Officer of Aritzia: Director; Corporate Governance Documents. Soon after. How much relates to the closures last year expedited freight? 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). In Q1, our retail business surpassed our expectations as it increased 101% from last year. We better enabled clients to effortlessly shop the 63% of our spring/summer collections made from certified, organic or recycled materials. But management persevered because Wongs analysis showed it was the right long-term decision, strategically, she says. Ms. Wong embodies Aritzia's culture, championing the business and leadership philosophies. We. But Aritzia, the fourth-largest Canadian-owned womens apparel retailer, has a better chance than most chains of coming out strong, if not stronger. So we started, in Q3, spending significantly on expedited freight last year. Terms and conditions | Copyright Business in Vancouver. 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? Not the Jennifer Wong you were looking for? Now, Aritzia aims to capitalize on other retailers' woes by snapping up choice locations for pennies on the dollar, even as it expands online. "Client growth [in the U.S.] has increased more than 300 per cent in the past two years." Aritzia also noted its inventory climbed by 150 per cent over the past year. I think it's great. Super Puffs immersive pop-up environments, called Super Worlds, were developed by Aritzias creative team and Willo Perron, the designer credited with Drakes flyingFerrariand Jay Zs 4:44 album, among other projects. By evening, the decision was made: We had to close all the stores in an abundance of caution, Wong recalls. Hill has given every indication that Aritzias boutique expansion will continue, especially stateside. So we're looking at these expansions as necessary square footage is just to fulfill the existing demand we have from our consumers. 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. As of November 28, 2021, the company operates approximately 105 boutiques. But even though I'm always available for work, my career is very important to me. 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. 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. The next question is from Stephen MacLeod with BMO Capital Markets. There are 2 executives at Aritzia getting paid more, with Jed Paulson having the highest compensation of $2,449,610 . 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 even our largest stores can only hold 50% of our product at this point in time. I always have to be moving the peanut forward, so to speak. We are cautiously optimistic about our outlook for the remainder of fiscal 2023. 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 Vancouver-based company, which went public in 2016, says. Just wanted to get your overall thoughts on where we are -- where your customer is and how they're feeling? 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. 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.
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