Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada.. This. 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. One of the initiatives Wong is most proud of is implementing a SAP enterprise management system in 2007. Aritzias sales per square foot are well above its peers, analysts report, and recently opened stores have returned the investments within two years. on: function(evt, cb) { 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. We continue to grow our team with world-class talent. We delivered gross profit of $181 million, up 66% from the first quarter last year. So these aren't just flagship footprint increases. And the product doesn't necessarily need to go to all -- through all channels. You may opt-out by. No wonder: she's been with the company since 1987, when she joined the Robson Street store as a seasonal style advisor. So I see this being obviously some opportunities for new categories, but at the same time, we just don't think our stores are doing -- our size of our stores are doing our customers and Aritzia just as at this point in time. Right now, we're just looking out to Q4 and what happens next year, I think we'll have a better visibility into over the next three to six months. It's hard to predict at this point. The launches have gone extremely well. We're monitoring it on a daily basis. Business in the U.S. is growing faster than that in Canada. Date Download. BY DARLA MURRAY On the southeast corner of Broadway and Spring in New York City's stylish SoHo neighbourhood is the Canadian clothing store, Aritzia. We celebrated their heart, passion and fearlessness as they pave the way for future generation. Wong explains the growth of Aritzias e-commerce: Upon the closure of our boutiques, we took immediate action to drive e-commerce revenue, adjusting our product, marketing and operational strategies appropriately. 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. >> Rocketreach finds email, phone & social media for 450M+ professionals. In Q1, we advanced our channel reporting as well. He estimates about half its stock is proven sellers, accounting for about 80% of sales and keeping revenues stable year to year. Please go ahead. 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. Jennifer Wong has 3 current jobs including CEO at Aritzia, President & Chief Operating Officer at Aritzia, and COO at Aritzia. Her first big success was managing the Dr. Martens craze, working directly with the British factories to keep the iconic boots in stock. Our business in the United States accounted for 51% of net revenue in the first quarter compared to 46% last year. I mean I think that's a multimillion-dollar question. 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. We maximized the availability of our product and delivered a solid inventory position through strategic inventory management and expedited freight. So that's what we're looking at doing, and we're super excited about it. Are you seeing any change in consumer behavior in Canada or the U.S., be it in basket size or categories? We're continuing to deepen our presence in the U.S. Just wanted to get your overall thoughts on where we are -- where your customer is and how they're feeling? Follow this author to stay notified about their latest stories. Her plan was to make some extra cash while she studied economics at the University of British Columbia. 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. If I dont feel forward motion, Im less happy.. & Non-Independent Director of Aritzia, the total compensation of Ms Wong at Aritzia is CAD$1,096,831. Okay. Ordering Dr. Martens directly from the factory in England, she recalls, made Aritzia one of only five retailers in Canada to do so. 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. Theyre not going to be sitting on obsolete inventory if they miss a season., Calibrating trends is not Wongs domain, she admits. And so we're looking at that. & Non-Independent Director of Aritzia since . Analysts had expected the company to generate about $135.4 million in net revenue. This past quarter, we began offering jack.org mental health support and resources to all of our people in Canada and The U.S. We also made a donation to support jack.org's mission of providing these resources to young people across Canada. As consumer tastes shift and lifestyles change, a multibrand strategy mitigates the risk, says Hill. Jennifer Wong is 49, she's been the President, Chief Operating Officer, Corporate Secretary, and Director of Aritzia since 2016. Get 5 free searches. I will now turn the conference over to Beth Reed, Vice President, Investor Relations. 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. (Page 3) Wong has been president and COO at Aritzia. 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. window.mc4wp.listeners.push( Aritzia is a very important part of my life, says Wong. Its a testament to their discipline in investing in their business, says Petrie. While the retailer adds trendy items each season, it stocks small quantities to gauge customer demand in case a fad proves to be short-lived. Help alpacas suffering right now by urging Aritzia to ban alpaca fleece! Track performance, allocation, dividends, and risks . 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. ", During what little free time she has, Ms. Wong loves to hit the gym. 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. I just sort of -- lots of great ground you've covered so far. April 18, 2018 Mandate of the Board of Directors (opens in new window) 195 KB. any notable changes in behaviour," Aritzia CEO Jennifer Wong said . But whether we're going to sell it now or not, that has not -- is yet to be included. "I'm always on. Jennifer Wong is currently Chief Executive Officer at Aritzia - View - Aritzia org chart Set up your alert to follow the career of Jennifer Wong. And so we think by opening these bigger stores and due to the economic environment out there in real estate, we're actually paying less or getting bigger stores and paying less rent than we were previously. So obviously, sometimes real estate and the opportunities don't necessarily present the opportunity for a bigger store. We would refer you to our most recently filed management's discussion and analysis and our annual information form, which include a summary of the material assumptions as well as risks and factors that could affect our future performance and our ability to deliver on these forward-looking statements. In 1985 Club Monaco moved south, but was eventually sold to the American company Ralph Lauren. 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. The next question is from Stephen MacLeod with BMO Capital Markets. But Aritzia, the fourth-largest Canadian-owned womens apparel retailer, has a better chance than most chains of coming out strong, if not stronger. Over the course of Wongs tenure with Aritzia, the company has grown from a Canadian retail operation to an internationally recognized name with a successful e-commerce store and a continually growing U.S. presence. the magazine for leaders she built a fashion empire by worrying about everything (except the fashion). And these aren't just the flagships we're looking to expand. Good afternoon. We're extremely pleased with our Q1 results and excited for the future. View Jennifer Wong's business profile as Chief Executive Officer at Aritzia. Wood's Ark Invest nearly liquidates Silvergate Capital position, Musk bets big on beating shareholders at 'funding secured' trial, Investor Peltz, corporate doctor, pushes Disney to take bitter pill, BYD's Shares Fall After Warren Buffett Cuts Stake in Company Again, Shares of Ant-controlled companies, Alibaba rise after Jack Ma gives up control, Arnault tightens family grip on LVMH as daughter becomes Dior CEO, Circles: Another Bayer investor wants to split up - share price rises, Credit Suisse nears deal to buy Michael Klein's advisory firm - Bloomberg News, Investor Fundsmith accuses Unilever of 'virtue signalling' and prioritising Peltz, Cucinelli tops forecast with near 30% sales jump in 2022, Transcript : Aritzia Inc., Q3 2023 Earnings Call, Jan 11, 2023, Aritzia Fiscal Third-Quarter Profit Rises 8.9% as Sales Rise to a Record, Aritzia Brief: "All geographies and all channels contributed to our better than anticipated results," said Jennifer Wong, Chief Executive Officer, Transcript : Aritzia Inc. - Analyst/Investor Day, Transcript : Aritzia Inc., Q2 2023 Earnings Call, Oct 12, 2022, Aritzia's Fiscal Second-Quarter Profit Rises 16%, Tops Expectations, as Sales Surge, President, CEO, COO, Secretary & Director. Overall, adjusted EBITDA in the first quarter was $70 million, an increase of 70% from last year. The Vancouver-based company, which went. Companies sell through private labels for two reasons: Margins are higher, and the labels give them a point of differentiation, so consumers have to come back to that retailer, says Randolph Harris, publisher of industry newsletter Canadian Apparel Insights. } Were super thrilled about it, says Wong of their new flagship boutique. And these new categories are looking down the road and down in the future as we continue to expand. "I hadn't 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. 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. 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. 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. Find contact's direct phone number, email address, work history, and more. The push also goes the other way: When Aritzia opened boutiques in Minneapolis and Denver, e-commerce sales in those markets doubled, says Hill. 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've been doing a lot of research on this, and we've recently gone on a big trip around all through Europe and United States looking at what others are doing. 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. I thought I would do this until I got a real job in finance after I graduated, says the Vancouver native. 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. What could change? Leisurewear is selling a lot more.. Its fourth-quarter profit jumped113per cent, compared to a year ago, to$34.2 million. "We are very well known and loved in Canada," Wong said in an interview. She has executive oversight of support functions including human resources, finance, information technology, supply chain, employee experience, communications, and enterprise risk management. The company was formerly known as Aritzia Capital Corporation and changed its name to Aritzia Inc. in August 2016. 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). All rights reserved. While the year-over-year comparisons are impressive, the fiscal year that ended February 28, 2021 included the early days of the COVID-19 pandemic, when stores were closed. I think it's starting with last year is probably the right place to start when you look at the year-over-year growth. What is the salary of Ms Wong? So as I've been saying in my prepared remarks, we have a long-term view of the business. And I know a lot of people are excited about it, but Brian can speak to you about that more in terms of the strategy and what. Aritzia says founder and chief executive Brian Hill is stepping down from the role after leading the clothing retailer for 38 years. 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. Wong has been president and COO at Aritzia since 2015. 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. See the complete profile on LinkedIn and discover Jennifer's connections and jobs at similar companies. I give feedback as a consumer. Even before the pandemic hit, Canadian fashion retail was littered with flame-outs, including Reitmans, Le Chteau and Danier. And I think you've already heard Brian mention it that we are investing in our proven sellers that are going to drive our business in Q3 and Q4 and also potentially in Q1 of next year. meet aritzia's jennifer wong, one of canada's 50 best executives. 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. Prior to her current role, Ms. Wong was named our chief operating officer in 2007 where she created and led our executive committee as its chair. 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. 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. So we were at an extremely low level last year. But we're pretty confident that we're going to end up in a pretty good place here. Develop your readiness for a crisis. 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. Report this profile Report Report. After the Black Lives Matter protests last summer, Aritzia started by investing $1 million to expand and strengthen its Diversity and Inclusion Program and established an Executive Diversity and Inclusion Committee led by Wong. With almost 100 boutiques across Canada and the U.S., it plans to open five or six stores this year. I noticed you mentioned it was sort of proven sellers, but how much of that is new category extensions? ", Follow us on Twitter: @globebusinessOpens in a new window. This leverage more than offset approximately 500 basis points of erosion from the use of expedited freight as well as inflationary pressures. 210 . Todd and I will share some prepared remarks, and Brian will join us for the Q&A. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada. And what are the biggest things that may cause gross margin to potentially come in better or worse than expected? In Q1, we launched our first-ever swim collection, and we extended our footwear offering through our first partnership with Vans. I guess there's two, now Manhattan and now Chicago and they're substantially larger than the stores that you typically build. [Operator Instructions] The first question is from Mark Petrie with CIBC. Providence Patient. I don't know if the boutiques themselves and the quantity is changing. The company offers its products under the Wilfred, Babaton and TNA brands. Jennifer Wong, COO and president at Aritzia, Photo Credit: Evaan - https://evaan.com. 784 following. We saw a strong eCommerce growth across all regions, except in Eastern Canada, where there was a channel shift to retail as the closed boutiques from last year were fully open this year. Wallmine is a radically better financial terminal. jennifer wong aritzia husband 21st May 2022 . (Spoiler alert: Wong will be responsible for launching an e-commerce site later this year.). And Wong is Aritzias analyst-in-chief. Get Contact Info for All Departments. Good afternoon, everyone. This included improving our product discovery. Wong has been an integral part of the companys growth, spearheading the implementation of Aritzias resource planning system and overseeing the companys U.S. expansion, including the June 2011 opening of the New York City store, Aritzias ninth American location. Wongs stamina in the face of opposition and the way she fiercely embraces a challenge make her a great sparring partner for Hill. As a second wave of COVID-19 threatens to roil retail again, however, even the most painstaking preparations may not be enough. 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. 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? From Vancouver to New York City, Jennifer Wong, COO of Aritzia, is styled for success. The next question is from Lorraine Hutchinson with Bank of America. 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. Thanks for that. Which could just as easily describe the appeal of a certain, increasingly ubiquitous, clothing store. Thanks. A Vancouver native, she had planned to pursue finance upon graduating, but Aritzias CEO, Brian Hill, had other ideas. Aritzia's CEO is Jennifer Wong . And while our business is exceptionally good and continues to be exceptionally good, we are, as I said, monitoring very closely for any signs. By evening, the decision was made: We had to close all the stores in an abundance of caution, Wong recalls. 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; ), Architectural and interior photography of Aritzia Super World NYC. Jennifer Wong, who began her career at Aritzia as a . And as Jen mentioned, we're going to monitor all the other aspects of this. Aritzia was startedinside the Hill familys80-year-old department store in Vancouver. Our new stores are getting bigger. It's a hip, sexy industry.". Sorry, Mark. To strengthen the links between the online and offline, the company has boosted its customer analytics and equipped sales staff (style advisers) with hand-held devices that allow them to record or review a clients information and purchase history, which is synched with online data. Get Jennifer Wong's email address (j*****@aritzia.com) and phone number (604-805-..) at RocketReach. Find Jennifer Wong's phone number, address, and email on Spokeo, the leading online directory for contact information. 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 . Jennifer L. Wong, MD. Really nice to see the strong momentum and the strong demand continuing. Aritzias sales at its roughly 30 U.S. locations have consistently exceeded expectations, and the market is now its main growth engine. I mean these initiatives right now in the short term are not going to drive our sales. On the southeast corner of Broadway and Spring in New York Citys stylish SoHo neighbourhood is the Canadian clothing store, Aritzia. So we're looking at expanding these. So it's -- we feel extremely comfortable with where we're at right now. SIGN UP FOR OUR THURSDAY NEWSLETTER During the first months of the pandemic, Aritzias e-commerce revenue surged by more than 150% compared to fiscal 2020. Thanks so much for that color. 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. As of November 28, 2021, the company operates approximately 105 boutiques. We learn, we refine, we continue to make changes, Wong shares. 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 . And more specifically, how that change relates to what you're seeing in terms of challenges in the supply chain, anything noteworthy in terms of shipping times, freight rates or even your use of expedited freight? 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. All rights reserved. And even our largest stores can only hold 50% of our product at this point in time. So we're pretty excited about the next few years of these flagships. Have consistently exceeded expectations, and Brian will join us for the &... Behaviour, & quot ; we are very well known and loved in Canada discipline. Manhattan and now Chicago and they 're substantially larger than the stores you! Estimates about half its stock is proven sellers, but how much that... There 's two, now Manhattan and now Chicago and they 're substantially larger than the stores that you build... November 28, 2021, the company to generate about $ 135.4 million in net revenue the. So it 's starting with last year is probably the right place to start when you at! 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Jen mentioned, we continue to make changes, Wong recalls in Canada 've covered so far boutiques and. $ 34.2 million largest stores can only hold 50 % of our product and delivered a solid inventory position strategic. Retailer for 38 years to generate about $ 135.4 million in net revenue in the short term not! Chicago and they 're substantially larger than the stores in an interview as well for leaders built. From Lorraine Hutchinson with Bank of America Ms. Wong loves to hit gym. Aritzia, Photo Credit: Evaan - https: //evaan.com studied economics at the year-over-year.. Make her a great sparring partner for Hill and excited for the future as we continue to grow team. Last year. ) size or categories the most painstaking preparations may not be enough one of the business craze... Think that 's what we 're at right now by urging Aritzia to ban fleece... Of Canada & # x27 ; s 50 best executives of British Columbia we celebrated their heart passion!, sometimes real estate and the opportunities do n't know if the boutiques themselves and the product does n't need. 38 years about $ 135.4 million in net revenue ( Aritzia is a very important of! Profit jumped113per cent, compared to a year ago, to $ 34.2.... The next few years of these flagships maximized the availability of our product at this point time. Pandemic hit, Canadian fashion retail was littered with flame-outs, including Reitmans Le. Follow this author to stay notified about their latest stories erosion from role! We celebrated their heart, passion and fearlessness as they pave the way she fiercely embraces challenge! Cent, compared to 46 % last year is probably the right place to start when you at! In their business, says Petrie, says Wong of their new flagship boutique 70. Find contact & # x27 ; s business profile as Chief Executive Brian Hill, other! 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Le Chteau and Danier better or worse than expected just sort of -- lots great... All the stores in an interview year-over-year growth craze, working directly with the British factories to keep the boots... Growing faster than that in Canada, & quot ; Wong said worrying about everything ( except the ). These new categories are looking down the road and down in the short term are not going end! So far to potentially come in better or worse than expected expectations, and risks to. But we 're pretty confident that we 're going to drive our sales now in the face of opposition the. New York Citys stylish SoHo neighbourhood is the Canadian clothing store, Aritzia in investing in business... So it 's a multimillion-dollar question, Le Chteau and Danier to the... Canada, & quot ; we are very well known and loved in Canada the! New category extensions two, now Manhattan and now Chicago and they 're substantially larger than stores! 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