And I think that we're in it for the long game, as Jen mentioned. We're continuing to deepen our presence in the U.S. On the call today, I'm joined by Jennifer Wong, our Chief Executive Officer; Todd Ingledew, our Chief Financial Officer; and Brian Hill, our Founder and Executive Chair. 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. This reflects continued strength in the United States in both retail and eCommerce as well as a strong recovery of our business in Canada. Before that she was vice-president of support operations, manager of a shoe department and astore's assistant manager. Analysts had expected the company to generate about $135.4 million in net revenue. Aritzias sales at its roughly 30 U.S. locations have consistently exceeded expectations, and the market is now its main growth engine. In addition, it sells its products through online at aritzia.com. Okay. Please note that remarks on this call may include our expectations, future plans and intentions that may constitute forward-looking statements. Our business in the United States accounted for 51% of net revenue in the first quarter compared to 46% last year. 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'm always on. Brian was answering the question, but I don't know if we can hear him. 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 . Picture by Aritzia Article content material. Please go ahead. forms: { That said, we are cognizant of sort of some potentially pending inflationary effects that are going to affect everybody and how much that affects us is yet to be seen, but we are cognizant of that. We filled a multitude of key positions across all areas and levels of our business. What could change? As a second wave of COVID-19 threatens to roil retail again, however, even the most painstaking preparations may not be enough. I'm going to pass that over to Brian because it's a product question, if you don't mind. Her polished demeanour was apparently in evidence even when she was a teenager. Terms and conditions | Copyright Business in Vancouver. 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. 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. So the economics work. Welcome to Aritzia's First Quarter of Fiscal Year 2023 Earnings Call. Jennifer Wong has 3 current jobs including CEO at Aritzia, President & Chief Operating Officer at Aritzia, and COO at Aritzia. The Wilfred Cocoon Coat Long is a long wool-cashmere coat. jennifer wong aritzia husband. . These are all our store footprint increases. 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. There are 2 executives at Aritzia getting paid more, with Jed Paulson having the highest compensation of $2,449,610. But it has been a model of strong execution. But we're actually anticipating that, that will subside when potentially some kind of recession of some form or another, how deep it is who knows. 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. In recent years, it expanded several flagships, adding coffee shops where style advisers can grab drinks for clients and larger fitting rooms with couches for shoppers' entourages. And I think we've been doing this now for almost four decades, and there's been a number of different economic cycles in the last four decades. Really nice to see the strong momentum and the strong demand continuing. Sophie Grgoire Trudeau, Hailey Bieber and the supermodel Hadid sisters are other famous figures who gave Aritzia a social media boost. Dr. Jennifer Wong is very nice, attentive, asked my family background, my parents and siblings names and age and their cause of passing. Thank you for participating, and have a pleasant day. "Wongknows the companyinside and out, and upside down at this point. But I guess I just wanted to sort of ask about you've been able to move away from some of your promotions, especially in the U.S. and sort of structurally move higher on gross margin. This concludes the question-and-answer session and today's conference call. And we think we were pretty confident we're going to be able to elevate even more than we have already in the past and give our customer that experience and then draw increased top line dollars without adding sort of expenses and things because we think our rent -- all we know our rents are actually going to be coming down on these. The retailers rapid growth since going public in 2016 stands in sharp contrast to industry trend lines. As of November 28, 2021, the company operates approximately 105 boutiques. SIGN UP FOR OUR THURSDAY NEWSLETTER Well, maybe I'll answer that. No Credit Card required. 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. Looking for somebody else's email? What is the salary of Ms Wong? Jennifer Wong is President, Chief Operating Officer, Corporate Secretary, Director of the company. A key reason Aritzia is in this enviable position is its president and chief operating officer, Jennifer Wong. We apologise, but the video didn't load.Pay can see other videos from its team by tapping here. Which could just as easily describe the appeal of a certain, increasingly ubiquitous, clothing store. This enabled us to capitalize on the vast majority of our client demand, grow wallet share and deliver exceptional results. But whether we're going to sell it now or not, that has not -- is yet to be included. 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. 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). And I think if we continue to execute like we've been doing and we've proven over like the last three years at how we can execute during very, very challenging times, we feel very confident that we are in a solid position to be able to continue to perform through another challenging period. Sorry, Mark. "I feel my best after a really good cardio workout. . Struggling to demonstrate your value as a board member? We're just getting started. And so what we're seeing now is getting ourselves back into a position where we feel comfortable with our inventory levels. Aritzia. With that, I'll now turn the call back to Jennifer. And once again, I'm in this every day, and Todd and I have been having the most meaningful discussions we've had on inventory probably ever and as well as Jennifer and the three of us have been having these discussions. What are some additional names or alternative spellings that users use while searching for Aritzia? Now, Aritzia aims to capitalize on other retailers' woes by snapping up choice locations for pennies on the dollar, even as it expands online. 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. Some information may no longer be current. 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.). 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? Wong was named COO in 2007, and in 2015, was named president & COO of Aritzia. Aritzias website, launched in 2012, was more than two years in the making. Ms Wong is 51, she's been the Pres, COO, and Corp. Sec. 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. Customers will need more reason to visit stores, says Petrie. So these aren't just flagship footprint increases. It didnt lay off any staff, instead shifting many to help with e-commerce and call centre operations. 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.. The fundprovidedfinancial continuity to Aritzias people whoweredirectly or indirectly been affected by its store closures due to COVID-19. 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. Yes, I'll take that. 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 think last year -- throughout the entire year, we were chasing -- our inventory levels were between 20% and 30% up over the prior year, but our sales were up 75%. The COVID-19 crisis has borne out the wisdom of Aritzias omnichannel strategy. My gig here is to build the infrastructure to enable our growth, says Wong. (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.) We're under construction on. If industry standards have a 50 percent failure rate, why would I want to follow those same standards? says Wong, We go about things in a different way. I wanted to ask, I guess, just on the sort of price and promotional environment and sort of competitive environment. But management persevered because Wongs analysis showed it was the right long-term decision, strategically, she says. Open Your Heart. We plan to open 8 to 10 boutiques with all but one in the United States and to expand or reposition four to five boutiques. We're going to see that inflationary pressure on the products coming in. Julianne Moore Shines A Light On The Nuance Of Social Justice Work In A New Film From Jesse Eisenberg And Emma Stone, Heineken USA CEO Maggie Timoney On Increasing Inclusion In The Alcohol Industry, How To Develop Your Authentic Leadership Brand, Animator Momo Wang Used Her Tuzki Success To Catapult Her Career In Animation, How This Scrappy Entrepreneur Built Her Business By Creating The Perfect Collaborative Space, Mental Health In The Workplace: Predicted Trends For 2023, For 50 Years The Alliance Of Resident Theatres/New York Has Been Devoted To Help Nonprofit Theaters Make Their Art. jennifer wong aritzia husband 21st May 2022 . (Page 3) What developed was the vision to vertically-integrate a variety of different brands, rounding out an assortment of fashion apparel to appeal to mum, grandma, and daughter. Original labels Babaton, Talula, and TNA are among 16 exclusive Aritzia in-house brands which now make up 95 per cent of the stock; Denim Form, launched in 2018, is the most recent. "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. And we're very much aware of what other people are reporting. Her first big success was managing the Dr. Martens craze, working directly with the British factories to keep the iconic boots in stock. One of the initiatives Wong is most proud of is implementing a SAP enterprise management system in 2007. Aritzia employs 4,617 employees. Jennifer Wong, President and COO of Aritzia, Photo Credit: Evaan - https://evaan.com. Our team is performing extremely well. I think it's starting with last year is probably the right place to start when you look at the year-over-year growth. "Retail is seven days a week; we're only closed one day a year," says Ms. Wong, who is married. We also advanced our client and sales reporting this quarter, giving us a 360-degree view of our clients and their shopping behaviors. Our sites are always set on the future. And so we did talk a bit about some of the transitory impacts on the gross margin here. The hope is for annual revenue to exceed $1.1 billion in 2021, up from $743 million in 2018. 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. 1,039 followers. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada. 2,088 records for Jennifer Wong. And based on your commentary, Jennifer, it sounds as though the line extensions, notably the swimwear, the launch is going very well. 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. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada. I run the fashion; she runs the business., During the fateful ides of March, that business faced a catastrophe. 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. Good afternoon, everyone, and thank you for joining us today. 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. She joined Aritzia as a style advisor in 1987, according to her LinkedIn page. Thanks for that color too Brian. 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. 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 . In Q1, we reached the 50 people milestone on our data and analytics team. The Jennifer served as Chief Operating Officer and President, Chief Operating Officer and Secretary for Aritzia. The website now services over 200 countries worldwide. ", Follow us on Twitter: @globebusinessOpens in a new window. 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. Wong was 18 years old when she started working as a part-time sales associate at Aritzia in 1987. It was really important for us not to layoff or furlough anyone. And then so there could be savings there. (To date, Aritzia boasts ten signature brands ranging in demographic and price point, including TNA, Babaton and Wilfred.). That helps them be nimble in periods of market disruption, particularly through COVID, says MacLeod. It's a journey through our experience, it's not just something one-dimensional experience for them. And so we're anticipating that, that may change over the back half. Related products. I also just wanted to ask a quick question, hopefully about these flagships that you've announced. 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. Track performance, allocation, dividends, and risks . Maybe you could just talk a little bit about how that space is going to be utilized? See the complete profile on LinkedIn and discover Jennifer's connections and jobs at similar companies. 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. Okay. We had a terrific start to the year. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Wong was studying economics at the University of British Columbia and planning to get a real job in finance. He invited me to basically run the shoe division for retail, she says of Hill, who founded Aritzia in the basement of his familys longstanding business, Hills of Kerrisdale, in 1984. I'm Leeza (she/her). We have a lot of Canadians with American citizenship working at the SoHo location, says Wong. And Todd, you gave some commentary around sort of the cadence of pressure as the year unfolds or the rest of the year unfolds. In Q1, we advanced our channel reporting as well. Meaghen, I'll take that one. 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. We learn, we refine, we continue to make changes, Wong shares. This decision resulted in significantly higher freight costs, but we intentionally prioritized our accelerated momentum. Given current market conditions, we have increased our pace of planned repurchases. A wall of windows overlooks the Port of Vancouver. So if you could just talk a little bit about some of the attributes that you think should help Aritzia weather this rocky period? I have a love for my job. So where last year, the majority of the air freight was in the back half of the year, this year the majority is in the first half, including partially into the third quarter. These are your fall 2020 must-haves, and Aritzias got them all. Jennifer Wong joined Aritzia in 1987. Please go ahead. 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. 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. But were very analytical, she says. 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. So we did not layoff or furlough anyone as it related to COVID-19. (Aritzia currently has approximately 4,000 team members.). Moving to people. Great Advice Pays Off > Stories & Advice on Finances, BDC Resources > Stories & Advice for Entrepreneurs, Learning to Lead > Advice for Advancement, Going Global > Get Started With Exporting. When Brian Hill opened the first standalone boutique in 1984, the idea was simple: offer beautiful clothes in aspirational spaces with exceptional service. The company offers its products under the Wilfred, Babaton and TNA brands. It's known for its retail mix, including a substantial roster of luxury brands. The next question is from Stephen MacLeod with BMO Capital Markets. 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. 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. 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. })(). Aritzia generated $818.5 millionof its2022 net revenue in Canada,or about 54.8 per cent,while $676.14 millionin net revenue came from the U.S. 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. But generally speaking, we changed the size of the stores that we're actually communicating to the landlords that we're after. Work Biography for Jennifer Wong, Aritzia. SIGN UP FOR OUR THURSDAY NEWSLETTER. We already opened our first boutique in Orlando, and we'll be opening in Atlanta later this month. They said the company couldnt do it. You think of fashion as buyers, creative designersall very glamorous on the outside. So we've probably been having more inventory level discussions in the last sort of three to four months than we've had in the last decade, truthfully. <br><br>Through working on many health initiatives, I come to realize impactful social and environmental change stems from the adoption of a sector- level initiative. In Q1, we launched our first-ever swim collection, and we extended our footwear offering through our first partnership with Vans. It's a hip, sexy industry.". No wonder: shes been with the company since 1987, when she joined the Robson Street store as a seasonal style advisor. Aritzia today also released fourth-quarter andfiscal 2022 financial data,for the period that ended February 27. There are 1 executives at Aritzia getting paid more, with JedPaulson having the highest compensation of $2,449,610. ", Aritzia said in a statement that Hill has "no immediate plans to make changes in [his] share ownership position. We're continuing to grow our boutique portfolio, expand our DCs, invest in infrastructure and build our team of world-class talent. Apr 19, 2011. canadastop40under40.com . 'S known for its retail mix, including a substantial roster of luxury brands Aritzias omnichannel.... To 46 % last year is probably the right place to start when you at. Of what other people are reporting, maybe I 'll now turn the call back to.. 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