Wong has been president and COO at Aritzia. Ms. Wong was 18 years old at the time and studying commerce at the University of British Columbia. From Vancouver to New York City, Jennifer Wong, COO of Aritzia, is styled for success. Inventory was $299 million at the end of the first quarter, up 81% from last year. Perhaps the embodiment of the Aritzia brand, Wong is effortless, fashionable, and poised. And later this month, we will be publishing our second ESG report and first United Nations Global Compact Communication on progress. 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. The online infrastructure held up despite days that were as busy as Black Friday and Cyber Monday, says Wong. 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. Our team is performing extremely well. SG&A expenses in the quarter were $120 million or 29.5% of net revenue compared to 28.5% last year. That helps them be nimble in periods of market disruption, particularly through COVID, says MacLeod. This lays the foundation for more personalization and it forms the strategies we will employ to drive deeper loyalty with every client interaction. We are a company of people who are self-motivated to be well-informed and connected, says Wong. There's always something going on, and I'm always on my BlackBerry. "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. They are part of the Executive team within the C-Suite Department and their management level is C-Level. Jennifer Wong has 3 current jobs including CEO at Aritzia, President & Chief Operating Officer at Aritzia, and COO at Aritzia. Which could just as easily describe the appeal of a certain, increasingly ubiquitous, clothing store. Date Download. And so therefore, obviously, the first half of this year, we're lapping a period where we didn't spend significantly. . 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. While International Women's Day and Women's History Month are notable occasions to celebrate the power of women, Aritzia recognizes women all year long, in leadership and executive roles. Back Submit. 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. All rights reserved. But management persevered because Wongs analysis showed it was the right long-term decision, strategically, she says. The company was formerly known as Aritzia Capital Corporation and changed its name to Aritzia Inc. in August 2016. Search. 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. "I feel my best after a really good cardio workout. No wonder: she's been with the company since 1987, when she joined the Robson Street store as a seasonal style advisor. Today, Aritzia is hitting all the right notes, a testament to the power of selling a trendy product at an attainable price, in elevated yet always inviting store environments. We continue to grow our team with world-class talent. 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. In addition, one of our board committees oversees governance and diversity, which includes consideration for female representation both on our board and in senior management positions. })(). Right, she says, punctuating each word. Team Members. <br><br>My career goal is to help influential businesses measure their impact & reach the triple bottom line . Jennifer Wong, President and COO of Aritzia, Photo Credit: Evaan - https://evaan.com. Photographed by Eric Soltan - [+] https://www.ericsoltan.com, The Super Puff pop-up shop, which is an immersive pop-up environment that opened in December 2020 in SoHo, is aptly named Super World. Aritzia has a ten-year lease on the iconic former Dean & DeLuca space. The company gives each brand a unique aesthetic steered by a dedicated creative team. 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'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. What we're actually looking at is changing the footprints and increasing the footprints of the boutiques because we have such a long broad product experience. But in the scheme of our growth, it's really going to come down to The United States. 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. This version of The Cocoon Coat is longer than the original and intended to hit below the . The 100 basis point increase reflects the elimination of subsidies year-over-year and ongoing investments in talent and technology to deliver our growth. 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. Jennifer Wong works as a Purchasing Junior Buyer at Aritzia, which is an Apparel & Accessories Retail company with an estimated 6,569 employees; and founded in 1984. & Non-Independent Director of Aritzia since . That's great to hear and very helpful. Hello! In this campaign, we shined a light on the stories of LGBTQ revolutionary. The limitless opportunity to learn is what excites Wong about working at Aritzia. Thank you, and thanks for joining Aritzia's first quarter fiscal 2023 earnings call. 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. They continue to navigate the ongoing headwinds of the global landscape to deliver for our clients and our business. Company Overview. Our inventory buys are focused on our proven sellers, and we are confident we are on track to have the product to meet demand through the fall/winter season. Our geographic expansion continues to be our most effective vehicle for propelling our brand and acquiring clients for all of our channels. We focused on enhancements to our eCommerce and Concierge dashboards. 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. Propelling our business forward has not come without its challenges. ", Aritzia said in a statement that Hill has "no immediate plans to make changes in [his] share ownership position. Like all global businesses, we continue to experience supply chain disruptions and logistics delays in Q1. (function() { In Canada, we grew by 52% with outstanding comparable sales growth and the benefit of reopened boutiques in Eastern Canada. While we continue to make our assortment more sustainable, we also delivered on two of our product expansion initiatives. Learn how the brand is doing it, by . Jennifer graduated from . Its critical to note that this is merely the beginning the brand knows it has a lot of work ahead. And what are the biggest things that may cause gross margin to potentially come in better or worse than expected? (Super World LA is slated to open later this year.). We also continued to focus on uplifting and empowering our communities and all the people we serve. We work hard to create opportunities for young women to join the workforce and gain skills to grow in multiple career paths because championing, supporting, and growing women in leadership and across all levels of our organization is core to our beliefs., Tasha Tilberg with her twins, wearing the Cause Mom collection, a unique collaboration with Cause We [+] Care, Photo Credit: Courtesy of Aritzia. They also launched their first paid Instagram campaign with Kendall Jenner in October 2018. Moving to people. 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. 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. It forecasts the countrys clothing sales will plunge 30% from 2019; the biggest previous one-year drop, in 2009, was 2.3%. 85% of our employee base is made up of women, including 67% of our Aritzia Leadership Team; three of six executive officers are female; and 98% of our retail management team are women. And so we're super excited. We're getting good TI packages and everything else. 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. We also further developed our data warehouse and deepened our partnership with Tableau. Please go ahead. She was recognized as one of Canadas Top 40 Under 40 (2008). involvement of Jennifer Wong. Our business model continues to enable us to provide our clients with beautiful products for all aspects of their life. In a retail landscape littered with flameouts, Aritzia has managed to stand apart, thanks in no small part to its nimble leap to e-commerce and a president and COO who focuses on everything but fashion. And so we do see things returning to normal at some point over the course of this year and into next year. And then we're obviously monitoring our usage as well. As much as real estate is a priority for Aritzia, the brands digital footprint is also a critical part of its strategy. 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. It's a journey through our experience, it's not just something one-dimensional experience for them. When we made the decision to close our stores in the middle of March last year, the first thing that was top of mind for us, was our people, Wong shares. Thanks for that color too Brian. And just as a follow-up, I assume that, that impact from expedited freight would be incremental to last year. There's a Louis Vuitton flagship store in there.". Okay. Hill, who is in his late 50s,said that he remains as dedicated to Aritzia as he did when he founded the venture in 1984, with a first store in Oakridge Centre, and then a second one in Metropolis at Metrotown. We're expanding. So that's why we're planning on seeing the most pressure in Q2. } And as Jen mentioned, we're going to monitor all the other aspects of this. So obviously, sometimes real estate and the opportunities don't necessarily present the opportunity for a bigger store. We are cautiously optimistic about our outlook for the remainder of fiscal 2023. What makes Aritzia different, says Wong, is that it values its Canadian roots and is commitment to maintaining its unique culture. And then secondarily, wondering how you -- how comfortable you feel about that elevation in gross margin? Please go ahead. "I thought I would do this until I got a 'real job' in finance after I graduated," says the Vancouver native. Learn about their Apparel & Accessories Retail, Retail market share, competitors, and Aritzia's email format. The company was formerly known as Aritzia Capital Corporation and changed its name to Aritzia Inc. in August 2016. 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. "Wongknows the companyinside and out, and upside down at this point. This extends beyond selling clothes: Wong says that incorporating socially responsible values through their architecture design and embracing changes in technology are examples of how the brands approach has evolved over the years. But even though I'm always available for work, my career is very important to me. 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. 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. 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. Wongs stamina in the face of opposition and the way she fiercely embraces a challenge make her a great sparring partner for Hill. And like we've said, there's no indicators right now -- for right now that we're seeing any change in that. Many of the strategic decisions Aritzia had made in earlier years bore fruit during the crisis. In Q1, we advanced our channel reporting as well. Jennifer Wong was born and raised in Hong Kong. The uncertain and dynamic nature of the global COVID-19 pandemic and its ongoing impact could continue to materially alter our performance. Outside brands like Levis make up less than 10% of its sales. After 33 years, is she not tempted to try something else? Vancouver fashion retailer Aritzia Inc. (TSX:ARTZ)has appointed Jennifer Wong as CEO, while current CEO, Brian Hill, becomes executive chair. In 1985 Club Monaco moved south, but was eventually sold to the American company Ralph Lauren. Shes done a great job of putting the strategic dream into place.. The next question is from Dylan Carden with William Blair. We have doubled our U.S. active client base compared to last year. But even that -- I don't -- that's not how we're looking at it. We continue to advance our data and analytics capabilities to empower our team to make informed data-driven decisions. Last updated: 1 January 2023 at 11:00am EST. This improvement was achieved primarily from leverage on occupancy and warehousing costs that was amplified as we lapped the boutique closures from last year. Their tireless hard work, dedication and resilience is unmatched and is what delivered another exceptional quarter. Before that she was vice-president of support operations, manager of a shoe department and astore's assistant manager. Thanks so much for that color. 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. 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. Aritzia's CEO is Jennifer Wong . We're monitoring the challenges of supply chain, labor and inflationary pressures very closely, maximizing our position to deliver Everyday Luxury for our clients today and tomorrow is our top priority. 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. One of the initiatives Wong is most proud of is implementing a SAP enterprise management system in 2007. All rights reserved. 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. ", There's no denying the job is demanding. Over the course of Jennifer Wong 's 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.. She has been instrumental in accelerating our growth and will lead Aritzia in capitalizing on the incredible opportunities we see ahead. Thank you. And these aren't just the flagships we're looking to expand. Jennifer Wong is 49, she's been the President, Chief Operating Officer, Corporate Secretary, and Director of Aritzia since 2016. This concludes the question-and-answer session and today's conference call. 06-18-2022. It's Brian. Social media is one of many vehicles, but in the fashion business, its an important one. When Meghan Markle, Duchess of Sussex (whose stylist has a connection to Aritzia), was photographed in a Wilfred Cocoon coat, Aritzia team made sure the world knew it, and the line sold out. Aritzia. She served as an executive sponsor to several successful strategic initiatives, most notably, the . Thanks for that. Our store in SoHo is half the size it should be at 20,000 feet. We also advanced our client and sales reporting this quarter, giving us a 360-degree view of our clients and their shopping behaviors. When the pandemic hit, the company couriered clothes to models to photograph at home and moved stock from stores to the distribution centre. the total compensation of Ms Wong at Aritzia is CAD$1,096,831. A key reason Aritzia is in this enviable position is its president and chief operating officer, Jennifer Wong. But I'm just curious, is that something that you would expect to roll out over the -- across the entire network? And so we're looking at that. This enabled us to capitalize on the vast majority of our client demand, grow wallet share and deliver exceptional results. We're also expanding our presence in Palo Alto with a new boutique for the fall. Strategically, it comes down to our business model. Designed for enterprising woman who want to get ahead of their career goals by taking a proactive approach. The only thing we've seen changing is the product they're purchasing based on the sort of changing face in realities of COVID and opening things up and travel and things. Get Aritzia Inc. financial information by email. Aritzia's fiscal 2022 profit was up by more than eight times: to $156.9 million from $19.2 million. We've done such a good job to extend all other product expansion initiatives. Thank you, Todd. Wallmine is a radically better financial terminal. And is there any opportunity in Canada in certain markets where you also think you should upsize the boutiques -- some of the boutiques? The following day, Aritzia boutiques went dark. Right now, the positioning that we have in the marketplace with Everyday Luxury has positioned us given what might be coming down in terms of the environment and what we're seeing with competitors in that we see it being an opportunity. Its famous neighbours include fashion industry powerhouses like Prada, H&M and Bloomingdales. 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. So as I've been saying in my prepared remarks, we have a long-term view of the business. And while our business is exceptionally good and continues to be exceptionally good, we are, as I said, monitoring very closely for any signs. I think you've heard us talk about this a lot. 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. The success of our geographic expansion strategy builds on our already flourishing boutique portfolio and positions Aritzia for continued growth into the future. This outstanding growth in spite of macro headwinds was driven by the incredible demand for our product across all geographies and all channels. She studied English at Oxford University and earned an MA in creative writing at the University of East Anglia. Turning to our outlook. Yes, good afternoon. Hi, Lorraine, that's a good question because we've had lots of internal dialogue about that. The Aritzia management team includes David Labistour (Board Member), Todd Ingledew (Chief Financial Officer), and Jennifer Wong (Chief Executive Officer) . Thanks. Thanks. That is why we are thrilled to announce our next global flagship on Michigan Avenue, Chicago's Magnificent Mile. Not the Jennifer Wong you were looking for? We also partnered with Stonewall to launch our proud today, Pride For Ever Campaign. Work Biography for Jennifer Wong, Aritzia. And Petrie warns an overreliance on influencers could put Aritzias image at risk. I was just hoping you could do a little more handholding on the inventory growth. 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. (To date, Aritzia boasts ten signature brands ranging in demographic and price point, including TNA, Babaton and Wilfred.). 2,088 records for Jennifer Wong. But it was the decision to vertically integrate in the 1990s that, she says, led to the brands high retention rate. Todd and I will share some prepared remarks, and Brian will join us for the Q&A. Jennifer Wong is the Pres, COO, Corp. Sec. Strategic real estate choices have also always been important to the brand, and Aritzia is growing in that realm and making power moves. The next question is from Lorraine Hutchinson with Bank of America. Thank you. In addition, it sells its products through online at aritzia.com. Additionally, Jennifer Wong has had 1 past job as the Vice President / Vice President Support Operations at Aritzia. These are all our store footprint increases. Our business in the United States accounted for 51% of net revenue in the first quarter compared to 46% last year. She is really nice , sweet and funny. It didnt lay off any staff, instead shifting many to help with e-commerce and call centre operations. "Aritzia has a lot of great brand equity. Jennifer Wong is President, Chief Operating Officer, Corporate Secretary, Director of the company. Today, Aritzia can count 101 boutiques, with the recent opening of its Ala Moana boutique in Honolulu, its first in Hawaii. "Exercise is a big relief," she says. I mean I love this way more. And nine Canadian apparel retailers have filed for bankruptcy protection so far this year, along with the Canadian operations of seven foreign-owned chains, according to industry research firm Trendex. Yes, I'll take that. How much is for product versus other services, dressing rooms or cafes? So just sort of curious what that means for the business? And we are pleased with the early results we're seeing in our new boutiques and our new markets. 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. 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