Aritzias digital concierge platform helps staff serve as personal stylists, giving them access to records of customers' preferences and enabling marketing personalization. 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. And what are the biggest things that may cause gross margin to potentially come in better or worse than expected? So these aren't just flagship footprint increases. We continue to advance our data and analytics capabilities to empower our team to make informed data-driven decisions. We also advanced our client and sales reporting this quarter, giving us a 360-degree view of our clients and their shopping behaviors. 5 5 0. But from an increased perspective why we went from 100 to 150, we're just seeing higher inflationary pressure really across a lot of lines of the P&L and specifically as it relates to gross profit, product costs, logistics costs and even labor at our distribution centers. Of course, Aritzia isnt the first Canadian fashion retailer to make tracks in the U.S. Wong says what she values in life isnt that complicated or luxurious, its actually kind of simplebut not lacking for quality. Adjusted EBITDA was 17.1% of net revenue compared to 16.6% of net revenue last year. Thanks for that. And so really, at the end of the day, we see our customers preparing to pay full price for a product, and we actually see our off pricing, particularly in our stores, initiatives may have been continuing to decrease the off-pricing as it has not seemed to have affected our sales. HARRINGTON JACKET MENS CLASSIC RETRO SCOOTER 1970'S VINTAGE BOMBER MOD COAT TOP . The house-of-brands approach also enables the company to shift focus and inventory with fashions ebbs and flows. In terms of pricing and what we're seeing out there with inflation, we're getting this question a lot. 11_20_cover_final.indd 1 2020-10-09 2:24 pm mba mba with co-op accelerated mba. In Q2, we're entering new markets. The launches have gone extremely well. They are part of the Executive team within the C-Suite Department and their management level is C-Level. But as stressful as it was, we had each others backs, and it was amazing to see how many people stepped up.. And then we also have, in the second quarter, COVID relief subsidies and rent abatements that we received last year that are -- that obviously we're not going to get this year. A Vancouver native, she had planned to pursue finance upon graduating, but Aritzias CEO, Brian Hill, had other ideas. 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. 210 . 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. He points out that Winners is the No. 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). It's what we're actually trying to do here, which is working out quite well because, as you know, there's a lot of retailers out there that are shedding bigger stores and everything else. Wong has been at the Canadian womenswear brand for And can I add something there, too, please? 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. 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. Preview Subscribe. Report this profile Report Report. Thank you. } Markets; Tools Portfolios. Okay. While Todd will provide you with our detailed financial results, I am pleased to share that we delivered net revenue of $408 million in Q1, an increase of 65% from last year, led by our business in the U.S., which continued to accelerate at a phenomenal pace, increasing 81% from last year. In Q1, we advanced our channel reporting as well. I remember Brian and I looked at each other, and we were like, Thats a bad thing? The top leaders spend more time in stores than in their offices, and she personally visits stores regularly, partly to stay on top of operations (When I say something in front of a group at a podium, I need to know what the frick Im talking about) and partly to scope out staff standouts who would benefit from grooming and promotion, as she did herself. We feel it was a big milestone. [Operator Instructions]. Thank you. So we're excited about them. Some information may no longer be current. 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. 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. [Operator Instructions] The first question is from Mark Petrie with CIBC. 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. } We took the next couple of weeks to analyze our business and during that time, we kept all of our people employed. Aritzia has long been a closet staple for the fashion-conscious, attracting everyone from 14-year-old girls after its signature TNA leggings, to the stylish over 60s. But -- so we see some growth there. We -- as you mentioned, we have less off pricing going on. ), Architectural and interior photography of Aritzia Super World NYC. That's great. And as always, we put our people first. But it was the decision to vertically integrate in the 1990s that, she says, led to the brands high retention rate. 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. . It's a hip, sexy industry.". I'm Leeza (she/her). The strong momentum in our business has continued into the second quarter. We better enabled clients to effortlessly shop the 63% of our spring/summer collections made from certified, organic or recycled materials. But we are seeing pressure on costs and things like that, which we've seen over the last sort of 12 months. 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. Please go ahead. You may disconnect your lines. 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. 1,039 Followers, 784 Following, 31 Posts - See Instagram photos and videos from Jennifer Wong (@jennwongg) jennwongg. The oldest executive at Aritzia, Inc. is AldoBensadoun, 79, who is the Independent Director. If you have an ad-blocker enabled you may be blocked from proceeding. Are you seeing any mix shift? It's really from a building our inventory to be able to meet the demand that we have today and ensuring that we're in the right product. ", During what little free time she has, Ms. Wong loves to hit the gym. And how much of it relates to sort of new categories versus just sort of giving more exposure to the existing assortment? I've been into some of our stores in the last sort of four, five weeks, both in Manhattan and Chicago and other places and seeing lineups at the fitting rooms, seeing lineups at the cash registers, seeing lineups even in some cases to get into our stores. 31 posts. Get 5 free searches. Get Aritzia Inc. financial information by email. jennifer wong aritzia husband. It's a journey through our experience, it's not just something one-dimensional experience for them. Jennifer Wong is the Pres, COO, Corp. Sec. Aritzias sales at its roughly 30 U.S. locations have consistently exceeded expectations, and the market is now its main growth engine. With stores closed, Wongs bigger worry was demand, so the company veered hard toward e-commerce. 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. We opened three new boutiques in the quarter to a tremendous client response, two of which were in new markets, Las Vegas and Miami. 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. "I thought I would do this until I got a 'real job' in finance after I graduated," says the Vancouver native. 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? Designed to help you build your network, because you never know where that next connection takes you. Sent me right away for EKG , . Similar Name to Jennifer Wong. 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. We also further developed our data warehouse and deepened our partnership with Tableau. We have carried our strong momentum into Q2 and continue to lay the foundation for long-term lasting growth. From there, she moved through human resources, legal, finance, marketing and technology, and was named COO in 2007. She served as an executive sponsor to several successful strategic initiatives, most notably, the . We're extremely pleased with our Q1 results and excited for the future. Please go ahead. The company's fourth-quarternet revenue increased by66.1 per cent, compared to the same quarter a year ago, to $444.3 million. 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 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. Wong had set up a war room, its walls covered in charts and reports, and she met there daily with her top lieutenants, sometimes spending 14 hours in their own social bubble inside the otherwise empty head office. 784 following. Thanks for that color too Brian. 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. But at this point in time, we're cautiously optimistic that we're going to continue on with the same track we've been on for quite some time now. Dressed in a dark blouse with white polka dots, her dark blond hair perfectly in place, Wong could be a model for the companys business-casual Babaton label. 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. Hello! We're monitoring it on a daily basis. This is the conference operator. Engineered to deliver warmth down to -20C / -4F, it's made with an exceptionally warm wool-cashmere fabric from a premier Italian mill. I just wanted to follow up on the gross margin expectation. 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 . . Since I started my career at Aritzia I cant say, Ive been there and done that, says Wong. Jennifer served as Chief Operating Officer and President, Chief Operating Officer and Secretary for Aritzia. The Aritzia management team includes David Labistour (Board Member), Todd Ingledew (Chief Financial Officer), and Jennifer Wong (Chief Executive Officer) . The company was formerly known as Aritzia Capital Corporation and changed its name to Aritzia Inc. in August 2016. <br><br>My career goal is to help influential businesses measure their impact & reach the triple bottom line . Yes, we aren't seeing any change in that right now. With that, Shah, please open up the line for questions. Help alpacas suffering right now by urging Aritzia to ban alpaca fleece! SIGN UP FOR OUR THURSDAY NEWSLETTER. There are 2 executives at Aritzia getting paid more, with Jed Paulson having the highest compensation of $2,449,610 . It does so through three pillars of impact: poverty alleviation, mentorship and job readiness. While she admits that the hours can be gruelling, she doesnt subscribe to the clich work to live, live to work. Her first big success was managing the Dr. Martens craze, working directly with the British factories to keep the iconic boots in stock. Great. Working as Aritzias first buyer and retail manager, Wong sharpened her skills in inventory, with a flair for fashion market trends. Fatal Attraction came out, and radio stations were playing Madonna's Meaghen, I'll take that one. And then we're obviously monitoring our usage as well. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. For the year, we are expecting between 250 and 300 basis points of pressure from expedited freight. 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. I just wanted to ask on the state of the consumer. 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. 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. Please note that remarks on this call may include our expectations, future plans and intentions that may constitute forward-looking statements. We might be down 10% from the peak is what we're seeing. But even that -- I don't -- that's not how we're looking at it. They also launched their first paid Instagram campaign with Kendall Jenner in October 2018. Okay. 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. The company was formerly known as Aritzia Capital Corporation and changed its name to Aritzia Inc. in August 2016. The website now services over 200 countries worldwide. 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. 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 Joshua Tree won a Grammy for best album, the movie And then that will begin to ease in Q3. 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