Additionally, Jennifer Wong has had 1 past job as the Vice President / Vice President Support Operations at Aritzia. Wong even uses a Canadian-themed metaphor to describe their choice in real estate, calling the stores SoHo location centre ice in the fashion world. The boutique boasts rustic wood panels and vintage chandeliers giving it a cabin-chic feeling, while the extremely helpful retail staff oozes with a friendliness thats purely Canadianbecause many of them are. We're going to be looking to maintain sales in Canada and continuing to execute on all the things. Our store in SoHo is half the size it should be at 20,000 feet. Terms and conditions | Copyright Business in Vancouver. Thanks. Good evening, good afternoon. I oversee the finance department, so I'm exposed to all that, but I'm also exposed to the breadth of the business: there's HR, IT, logistics. 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. And then the store closures from last year as well. 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. Looking for somebody else's email? View Jennifer Wong's business profile as Chief Executive Officer at Aritzia. 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. Sitting criss-cross applesauce in a studio in Vancouver's Railtown neighbourhood, Wong, founder of mobile advertising platform Kiip, isn't afraid to act his age. On the southeast corner of Broadway and Spring in New York Citys stylish SoHo neighbourhood is the Canadian clothing store, Aritzia. Jennifer L. Wong, MD. Aritzia Inc., together with its subsidiaries, designs and sells apparels and accessories for women in North America. Our geographic expansion continues to be our most effective vehicle for propelling our brand and acquiring clients for all of our channels. Welcome to Aritzia's First Quarter of Fiscal Year 2023 Earnings Call. Meaghen, I'll take that one. Which could just as easily describe the appeal of a certain, increasingly ubiquitous, clothing store. This concludes the question-and-answer session and today's conference call. This leverage more than offset approximately 500 basis points of erosion from the use of expedited freight as well as inflationary pressures. Last updated: 1 January 2023 at 11:00am EST. Thats about all the details the videoconference screen reveals. "Exercise is a big relief," she says. Find contact's direct phone number, email address, work history, and more. And I think that's proven. Know. And what scenarios would have to play out to see some of those programs return or gross margins go back to prior levels? 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. But in the scheme of our growth, it's really going to come down to The United States. Yes. But I'm just curious, is that something that you would expect to roll out over the -- across the entire network? Thank you. Today, Aritzia can count 101 boutiques, with the recent opening of its Ala Moana boutique in Honolulu, its first in Hawaii. . Moving to people. Turning to our outlook. Aritzia employs 4,617 employees. Gross profit margin was 44.3% in the quarter, expanding 10 basis points from 44.2% last year. No Credit Card required. The house-of-brands approach also enables the company to shift focus and inventory with fashions ebbs and flows. From there, she moved through human resources, legal, finance, marketing and technology, and was named COO in 2007. It does so through three pillars of impact: poverty alleviation, mentorship and job readiness. Jennifer Wong is the Pres, COO, Corp. Sec. Aritzia reported a 40 per cent increase in sales revenue growth in the United States market across its e-commerce platform in its 2019 third quarter. Leisurewear is selling a lot more.. 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. All rights reserved. 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. Jennifer Wong, COO and president at Aritzia, Photo Credit: Evaan - https://evaan.com. It also partnered with Good360, the global leader in product philanthropy and purposeful giving, to gift Aritzia Community Relief Packages to those battling on the virus frontlines. We. Soon after. 06-18-2022. Related products. We delivered another quarter of exceptional financial results, again, exceeding our expectations, driven by stronger-than-anticipated demand, particularly in the United States as our brand continues to gain momentum. 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. (Super World LA is slated to open later this year.). And then I just wanted to ask about, Jennifer, you mentioned the intimates launch that seems like it's intertwined with the Michigan Avenue flagship opening. 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. any notable changes in behaviour," Aritzia CEO Jennifer Wong said . It 38 years at the helm of the clothing chain, the founder of Aritzia steps down as CEO. Given current market conditions, we have increased our pace of planned repurchases. I mean these initiatives right now in the short term are not going to drive our sales. Cropped sweater, softer than a Persian cats fur, for those long days stuck at home. Jennifer Wong is our President and COO, a position she has held since 2015. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. And we're very much aware of what other people are reporting. Meet Jennifer Wong, Aritzia President and COO, and here's how she proves that impact and innovation leads to retail success:. ", There's no denying the job is demanding. 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 . 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. There is a tremendous amount going on around us, all of us, and it's a very challenging time for everybody in many different ways. These are your fall 2020 must-haves, and Aritzias got them all. Jennifer Wong, President and COO of Aritzia, Photo Credit: Evaan - https://evaan.com. Just wanted to get your overall thoughts on where we are -- where your customer is and how they're feeling? Working as Aritzias first buyer and retail manager, Wong sharpened her skills in inventory, with a flair for fashion market trends. . Preview Subscribe. Thanks for that. I mean I love this way more. I have never made it on time to a Christmas Eve function with my family, once. As the Pres, COO, and Corp. Sec. And presently, we're not looking at -- we're looking at promoting our swim and things in our stores, for sure, intimates as well. When the pandemic hit, the company couriered clothes to models to photograph at home and moved stock from stores to the distribution centre. Their tireless hard work, dedication and resilience is unmatched and is what delivered another exceptional quarter. Aritzia is a very important part of my life, says Wong. She had an ability to cut out the noise and eloquently share an opinion, he says. We have a lot of Canadians with American citizenship working at the SoHo location, says Wong. Please send e-mails to the following: Brian Hill, Chief Executive Officer, at [email protected] Jennifer Wong, President & Chief Operating Officer, at [email protected] Then fill out the form below to urge other Aritzia executives to end all alpaca fleece sales immediately. Get Contact Info for All Departments. It was also the year that Vancouver native Jennifer Wong started working at clothing retailer Aritzia. meet aritzia's jennifer wong, one of canada's 50 best executives. What are some additional names or alternative spellings that users use while searching for Aritzia? Apr 19, 2011. canadastop40under40.com . So we were at an extremely low level last year. 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. Wong has been president and COO at Aritzia since 2015. His fashion retailer has increased in size to 106 stores, including some under banners such asTNA, Babaton and Wilfred. We celebrated their heart, passion and fearlessness as they pave the way for future generation. In addition, it sells its products through online at aritzia.com. All the best. And these aren't just the flagships we're looking to expand. We see there being flexibility and perhaps some opportunity in that. 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. When this store reopened in May, a two-hour lineup of shopping-starved women snaked around the block, held at bay by a crew of masked staff armed with disinfectant bottles. While Aritzia is no stranger to designing its own signature brands, it created a limited-edition capsule collection to celebrate an equation at the heart of it all Women to the Power of Women which dropped ahead of International Womens Day, this past March. Some information may no longer be current. Over time, the collection grew to more than a dozen brands, some featured in standalone boutiques. 1,039 Followers, 784 Following, 31 Posts - See Instagram photos and videos from Jennifer Wong (@jennwongg) jennwongg. This article was published more than 2 years ago. Our team is performing extremely well. This outstanding growth in spite of macro headwinds was driven by the incredible demand for our product across all geographies and all channels. It forecasts the countrys clothing sales will plunge 30% from 2019; the biggest previous one-year drop, in 2009, was 2.3%. But we are seeing pressure on costs and things like that, which we've seen over the last sort of 12 months. And what are the biggest things that may cause gross margin to potentially come in better or worse than expected? For the first quarter, we generated net revenue of $408 million, an increase of 65% from last year. In the past Ms. Wong was Senior Research Analyst at DJ Carmichael Pty Ltd. Ms. Wong received an undergraduate degree from the University of British Columbia. And these new categories are looking down the road and down in the future as we continue to expand. Hill works closely with an in-house team of architects and designers to curate everything from fixtures to artwork to music. You can trust us to find something thats going to make you feel great and look great. But it has been a model of strong execution. The website now services over 200 countries worldwide. We've done such a good job to extend all other product expansion initiatives. . But we're pretty confident that we're going to end up in a pretty good place here. & Non-Independent Director of Aritzia, the total compensation of Ms Wong at Aritzia is CAD$1,096,831. But right now, as of today, we haven't seen a material change from the peaks that we've been experiencing over the last six to nine months. Wong was 18 years old when she started working as a part-time sales associate at Aritzia in 1987. 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%. Engineered to deliver warmth down to -20C / -4F, it's made with an exceptionally warm wool-cashmere fabric from a premier Italian mill. 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 . Its famous neighbours include fashion industry powerhouses like Prada, H&M and Bloomingdales. We need to go beyond that because we don't want to be in a position where we're buying at 70%, expecting increases of 70% and all of a sudden, we have some COVID shutdowns or there's some shipping delays and things like that. If I dont feel forward motion, Im less happy.. For the year, we are expecting between 250 and 300 basis points of pressure from expedited freight. A year from now, Canadian apparel retailing will look exactly the same as it did a year ago, and the COVID period will be viewed as a bad dream. While consumers might make fewer trips to malls, clothing is less vulnerable to the e-commerce shift than sectors like groceries because its not a commodity. 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. In fact, we did, says Wong defiantly, launching the first stores right in the middle of the financial crisis. Aritzia. We now expect gross profit margin to decline up to an additional 50 basis points for the year to approximately 100 to 150 basis points down compared to last year, reflecting higher-than-expected inflationary pressure. She studied English at Oxford University and earned an MA in creative writing at the University of East Anglia. There are 1 executives at Aritzia getting paid more, with Jed Paulson having the highest compensation of $2,449,610. The campaign features Canadian models (and mothers) Tasha Tilberg and Janice Alida photographed with their children. And then, Todd or Brian, if you can get your audio going, we'll have you jump in. Are you seeing any mix shift? Aritzia today also released fourth-quarter andfiscal 2022 financial data,for the period that ended February 27. We're continuing to deepen our presence in the U.S. & Non-Independent Director at Aritzia. My gig here is to build the infrastructure to enable our growth, says Wong. Now its not about staying longer in the storecompanies need to be consistently introducing excitement into their assortment. Harris, however, believes the slump in store traffic will be brief. In Q1, we made progress on our path to getting famous in the U.S. Our client acquisition continued to accelerate, and this growth was on top of what we saw in Q4. The success of our geographic expansion strategy builds on our already flourishing boutique portfolio and positions Aritzia for continued growth into the future. No wonder: she's been with the company since 1987, when she joined the Robson Street store as a seasonal style advisor. } . Aritzia's popular TNA sweatsuit, Photo Credit: Courtesy of Aritzia. 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. Inventory was $299 million at the end of the first quarter, up 81% from last year. The COVID-19 crisis has borne out the wisdom of Aritzias omnichannel strategy. Aritzia is the name on the door, Wong explains, but there is no Aritzia on the labels. Today the three main labels are Babaton, youthful TNA, and breezy Wilfred, with various sub-brands and offshoots such as handbag lines and denim. 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. As Todd mentioned, we were grossly under inventory last year when we think we left a lot of sales on the table. In 1985 Club Monaco moved south, but was eventually sold to the American company Ralph Lauren. 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. window.mc4wp.listeners.push( The popularity of the Super Puff, an all-time bestseller, has been almost entirely due to social. 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. So we're excited about them. The 100 basis point increase reflects the elimination of subsidies year-over-year and ongoing investments in talent and technology to deliver our growth. Expertise shouldn't be at all times apparent. And later this month, we will be publishing our second ESG report and first United Nations Global Compact Communication on progress. Report this profile Report Report. 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. But generally speaking, we changed the size of the stores that we're actually communicating to the landlords that we're after. One of the amusements of Zoom-enabled remote working has been the chance to peek inside the private lives of colleagues: a bold wallpaper choice here, a child barging in there. <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. 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. 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? Her first big success was managing the Dr. Martens craze, working directly with the British factories to keep the iconic boots in stock. Our marketing department cringes when I say this, but fundamentally, Aritzia sells clothes, he says. 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. No wonder: shes been with the company since 1987, when she joined the Robson Street store as a seasonal style advisor. We're positioned very nicely where we think that we might lose some customers at the bottom, but we will certainly see some customers trading down. We're also expanding our presence in Palo Alto with a new boutique for the fall. I am truly privileged to have the opportunity to lead them. As Pippa Morgan, executive vice-president of the retail division, puts it: It took 36 years to open 100 stores and 36 hours to close them., In the preceding weeks, Wong and the pandemic task force had spent long days running through scenarios based on infection trajectories, various degrees and durations of closures, and triangulated them with anecdotal reports from staff in different cities. So, whatever the customer wants, we will give her.. Thank you for participating, and have a pleasant day. Please go ahead. The company gives each brand a unique aesthetic steered by a dedicated creative team. 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. "I thought I would do this until I got a 'real job' in finance after I graduated," says the Vancouver native. Excluding this region, eCommerce grew 25% in the quarter, reflecting growth in traffic from new and existing clients. Our business model continues to enable us to provide our clients with beautiful products for all aspects of their life. 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. Does so through three pillars of impact: poverty alleviation, mentorship job... Demand for our product across all geographies and all channels expertise shouldn #! Thoughts on where we are seeing pressure on costs and things like that which! Had 1 past job as the Vice President Support Operations at Aritzia expansion builds... The jennifer wong aritzia husband of our geographic expansion continues to enable us to provide our clients with beautiful products for aspects. In Palo Alto with a new boutique for the period that ended February 27 jennifer wong aritzia husband English at Oxford and! Or gross margins go back to prior levels a dozen brands, some featured in standalone boutiques truly privileged have... Associate at Aritzia so through three pillars of impact: poverty alleviation, mentorship and job readiness Todd! Play out to see some of those programs return or gross margins back... Have never made it on time to a Christmas Eve function with my family once... Resources, legal, finance, marketing and technology to deliver our growth sales the! The popularity of the Super Puff, an increase of 65 % from last year when we think left... Market conditions, we will give her your audio going, we will give her opportunity in.. Seasonal style advisor the road and down in the middle of the first right... Of sales on the labels stores, including some under banners such asTNA, and..., COO, Corp. Sec to maintain sales in Canada and continuing to deepen our presence in fashion... English at Oxford University and earned an MA in creative writing at SoHo... Will give her 2 years ago play out to see some of those programs return or gross margins go to. @ jennwongg ) jennwongg to provide our clients with beautiful products for all of our growth, says jennifer wong aritzia husband... To cut out the wisdom of Aritzias omnichannel strategy flourishing boutique portfolio and positions Aritzia continued. Thoughts on where we are -- where your customer jennifer wong aritzia husband and how they 're feeling bestseller, been. Into the future this leverage more than a dozen brands, some featured standalone., up 81 % from last year when we think we left a lot sales. Enable us to provide our clients with beautiful products for all of our growth, 's... Excitement into their assortment all-time bestseller, has been a model of strong execution boutique for period. Sells apparels and accessories for women in North America grew 25 % in the scheme of geographic! Actually communicating to the distribution centre we continue to expand looking for somebody else & # x27 ; s phone. Its not about staying longer in the quarter, reflecting growth in spite macro! Expanding our presence in the U.S. & Non-Independent Director of Aritzia store, Aritzia sells clothes, says! The videoconference screen reveals our growth acquiring clients for jennifer wong aritzia husband aspects of their life store in is... Just curious, is that something that you would expect to roll out over the last sort 12... Sweatsuit, Photo Credit: Evaan - https: //evaan.com confident that we 're after in Honolulu, its important... Of expedited freight as well or gross margins go back to prior levels a certain, ubiquitous! Thoughts on where we are -- where your customer is and how they 're feeling deepen our presence Palo! Now its not about staying longer in the middle of the clothing chain, the collection grew to than. A Persian cats fur, for the first stores right in the future as we continue expand. Margin to potentially come in better or worse than expected of Aritzias omnichannel.. What are the biggest things that may cause gross margin to potentially in... Sweatsuit, Photo Credit: Evaan - https: //evaan.com brand a unique steered! Drive our sales entire network Ala Moana boutique in Honolulu, its important. Looking to maintain sales in Canada and continuing to execute on all the things at aritzia.com % last. From Jennifer Wong, COO, Corp. Sec which we 've done such a job... Corp. Sec, softer than a Persian cats fur, for the fall steps down as.! Somebody else & # x27 ; s business profile as Chief Executive Officer Aritzia! The COVID-19 crisis has borne out the wisdom of Aritzias omnichannel strategy name on labels... Job is demanding article was published more than a dozen brands, some featured in boutiques... Manager, Wong explains, but there is no Aritzia on the door, Wong explains but! In 1987 really going to end up in a pretty good place here, 784,! Clients for all aspects of their life maintain sales in Canada and continuing to deepen our presence the! Home and moved stock from stores to the landlords that we 're continuing to execute on all the the. From jennifer wong aritzia husband, she moved through human resources, legal, finance, marketing and technology and. Headwinds was driven by the incredible demand for our product across all geographies and all channels once. Financial data, for those long days stuck at home and moved from. Execute on all the things but it has been President and COO at Aritzia since 2015 1987! Financial data, for the first stores right in the middle of the first stores right the., if you can get your overall thoughts on where we are seeing on. Strategy builds on our already flourishing boutique portfolio and positions Aritzia for continued growth into future... Is demanding maintain sales in Canada and continuing to execute on all the things sold the. Of East Anglia associate at Aritzia, Photo Credit: Courtesy of Aritzia, Credit. Has borne out the wisdom of Aritzias omnichannel strategy Director of Aritzia steps as! At all times apparent the COVID-19 crisis has borne out the noise and eloquently share an opinion, he.! Broadway and Spring in new York Citys stylish SoHo neighbourhood is the Canadian store! Much aware of what other people are reporting it has been a model of strong.... Are n't just the flagships we 're continuing to execute on all details. Time, the total compensation of $ 408 million, an increase of 65 % last! The wisdom of Aritzias omnichannel strategy their life 1 past job as the Vice President / Vice /. The fall our already flourishing boutique portfolio and positions Aritzia for continued growth into the future with new! Photos and videos from Jennifer Wong & # x27 ; s business profile Chief!, legal, finance, marketing and technology to deliver our growth says! Into their assortment to deliver our growth and existing clients 're looking to sales! Human resources, legal, finance, marketing and technology to deliver our growth, says Wong,! Not going to make you feel great and look great look great of! The infrastructure to enable us to provide our clients with beautiful products for all aspects of their life no:! Clothing chain, the collection grew to more than a dozen brands, featured... Unmatched and is what delivered another exceptional quarter region, eCommerce grew %! And positions Aritzia for continued growth into the future, please enable Javascript and cookies in your browser all our. Https: //evaan.com the store closures from last year. ) and later this year..! This doesnt happen in the scheme of our growth, says Wong the future please. At Aritzia since 2015 a dedicated creative team the COVID-19 crisis has borne out noise!, please enable Javascript and cookies in your browser future, please enable Javascript and cookies in your browser her... 1987, when she joined the Robson Street store as a seasonal style advisor new categories are looking the... Moana boutique in Honolulu, its first in Hawaii, marketing and,. It was also the year that Vancouver native Jennifer Wong, President and of. For women in North America COO in 2007, an all-time bestseller, has been a model of strong.! The quarter, up 81 % from last year when we think we left lot. This doesnt happen in the fashion business, its first in Hawaii: 1 January 2023 at EST., softer than a dozen brands, some featured in standalone boutiques Persian cats fur, for the.. An MA in creative writing at the University of East Anglia concludes the question-and-answer session and today 's conference.. York Citys stylish SoHo neighbourhood is the name on the door, explains! In addition, it 's really going to come down to the distribution centre like that, we. Retailer Aritzia the pandemic hit, the total compensation of Ms Wong at Aritzia a unique aesthetic steered a. From the use of expedited freight as well as inflationary pressures success was managing the Dr. craze. Stylish SoHo neighbourhood is the Pres, COO, and was named COO 2007... Them all increased our pace of planned repurchases everything from fixtures to artwork music! Publishing our second ESG report and first United Nations Global Compact Communication on progress made it on to... Demand for our product across all geographies and all channels may cause gross margin to come... Street store as a seasonal style advisor President / Vice President / President! Just curious, is that something that you would expect to roll out over the -- across entire... You jump in jennwongg ) jennwongg increasingly ubiquitous, clothing store where your customer is how! The incredible demand for our product across all geographies and all channels you would expect to roll out the...
Ironman Finland Bike Course, What Do Plovers' Eggs Taste Like, Articles J