Wanda Costen is leading change in business education. I'm going to pass that over to Brian because it's a product question, if you don't mind. We're going to be looking to maintain sales in Canada and continuing to execute on all the things. He's talking. Aritzia forecast revenue for the current quarter to be as much as C$600 million, surpassing analysts' projections of C$525.9 million. "Retail is seven days a week; we're only closed one day a year," says Ms. Wong, who is married. I am currently a fourth year health science student at the University of Western Ontario. But Jennifer Wong has given little away because shes been in the office almost every day since the lockdown started, co-ordinating Aritzias pandemic response. Jennifer has 1 job listed on their profile. 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. Expertise shouldn't be at all times apparent. 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. joining us today. He's still Aritzia's biggest shareholder with nearly 19 percent of the equity and also controls about 70 percent of the voting power. So there's a large timing shift, which is what's causing the variability quarter-to-quarter. Demand for our much-loved Everyday Luxury experience from new and loyal clients has continued to exceed our highest expectations. So we're trying to get ourselves in a position as we're actually even spending -- swing the pendulum farther than the other direction. It didnt lay off any staff, instead shifting many to help with e-commerce and call centre operations. So we're pretty excited about the next few years of these flagships. We continue to be one of the industrys leading retailers,and we have a sustainably profitable business, she insists, with the company boasting 21 consecutive years of positive net revenue growth. 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. Brian Wong The cheat code. And what are the biggest things that may cause gross margin to potentially come in better or worse than expected? This enabled us to capitalize on the vast majority of our client demand, grow wallet share and deliver exceptional results. So that's why we're planning on seeing the most pressure in Q2. In Q1, we formed our Environmental and Social Board Committee to oversee how we can continue to accelerate the positive impact we are making through our operations, policies, programs and initiatives. 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. But we just have not seen an erosion of our sales per square foot as we've increased the size of our stores. But -- so we see some growth there. 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. Thank you. Find other Emails now. 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. Thank you. To maintain our momentum, we added new and improved features and functionalities to aritzia.com. Please go ahead. The Aritzia store at the McArthurGlen Designer Outlet Vancouver mall opened in mid-2020 | Rob Kruyt, Rob Shaw: Eby selects Penny Ballem as his special adviser on health, Eby announces $90M jobs fund to boost BC forestry economy, Inside Vancouver Mayor Ken Sims first six weeks in office, B.C. It does so through three pillars of impact: poverty alleviation, mentorship and job readiness. View Jennifer Wong's business profile as Chief Executive Officer at Aritzia. pbs facing death documentary summary; burning american flag emoji copy and paste; cute names for a stuffed squid; unreal engine console commands; what does ashley mean; pheasant run apartments lafayette; As Todd mentioned, we were grossly under inventory last year when we think we left a lot of sales on the table. Jennifer Wong is Chief Executive Officer at Aritzia Inc. See Jennifer Wong's compensation, career history, education, & memberships. Okay. We've done such a good job to extend all other product expansion initiatives. Aritzia is a very important part of my life, says Wong. This success can be attributed to sharp marketing and brand awareness, able to leverage sightings of public figures and celebritiessuch as Sophie Trudeau, Meghan, Duchess of Sussex (single-handedly responsible for selling out entire product lines), the Hadid sisters, and Hailey Bieberwearing their clothes. Aritzia Inc., together with its subsidiaries, designs and sells apparels and accessories for women in North America. We have doubled our U.S. active client base compared to last year. Wondering if it's jennifer@aritzia.com, jennifer.wong@aritzia.com, wong@aritzia.com, or jwong@aritzia.com? 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? Every day Im honored to work alongside a world-class team of smart, ambitious, talented women building and thriving in long-term careers, Wong shares. 2,088 records for Jennifer Wong. 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. 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. We are a company of people who are self-motivated to be well-informed and connected, says Wong. There's a Louis Vuitton flagship store in there.". And just as a follow-up, I assume that, that impact from expedited freight would be incremental to last year. Please disable your ad-blocker and refresh. (Bloomberg) -- Aritzia Inc. is winning over American teens and 20-somethings with a playbook that looks out of step with today's often bleak retail environment.Most Read from BloombergElon Musk Fan With 2,900% Gain Sees $1.5 Million Wiped AwayT-Mobile Considers Buying Ryan Reynolds's Mint MobileUS Inflation Cools Again, Putting Fed on Track to DownshiftThe Document That Separates Biden and . <br><br>My career goal is to help influential businesses measure their impact & reach the triple bottom line . Jennifer Wong is the Pres, COO, Corp. Sec. And so rather than being sort of -- Todd, I can't remember what the numbers you just said, our sales were up around 70% and our inventory was up 20% or 30% or whatever those numbers were, we don't just want to get up to 70%. That helps them be nimble in periods of market disruption, particularly through COVID, says MacLeod. I mean, COVID, right? ); 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 . unlock your potential with a degroote mba emba blended learning part-time mba Jennifer Wong is 49, she's been the President, Chief Operating Officer, Corporate Secretary, and Director of Aritzia since 2016. So if you could just talk a little bit about some of the attributes that you think should help Aritzia weather this rocky period? And Aritzia has also consistently been a favorite of the Duchess of Sussex Meghan Markle (who has been spotted in several items from the Babaton and Wilfred range). A long-term shift toward more casual clothing may permanently impair its Babaton and Wilfred labels. But so far, right now, we are not seeing any changes in consumer patterns or behaviors. Todd and I will share some prepared remarks, and Brian will join us for the Q&A. 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. But we're pretty confident that we're going to end up in a pretty good place here. Email Address * Country * } "Wongknows the companyinside and out, and upside down at this point. 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. 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. 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. The end of bricks and mortar? For the first quarter, we generated net revenue of $408 million, an increase of 65% from last year. Jennifer Wong began at Aritzia as a salesman 35 years in the past. And like we've said, there's no indicators right now -- for right now that we're seeing any change in that. Fatal Attraction came out, and radio stations were playing Madonna's I think it's great. She grows animated while relating the episode. Download year list. And then so there could be savings there. Numerous studies show that having stores in a market drives significant e-commerce activity. It was also the year that Vancouver native Jennifer Wong started working at clothing retailer Aritzia. Our liquidity position remains strong with $179 million in cash and zero drawn on our $175 million revolving credit facility. Overall, adjusted EBITDA in the first quarter was $70 million, an increase of 70% from last year. I'm excited to report our results for the first quarter of fiscal 2023 and our plan for continuing to capitalize on the many growth opportunities we see ahead. Jennifer Wong has 3 current jobs including CEO at Aritzia, President & Chief Operating Officer at Aritzia, and COO at Aritzia. We're extremely pleased with our Q1 results and excited for the future. So we're going to continue to push and open stores. 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. The board was against it, pointing out that Lululemon across the street had done a similar technological transformation at half the cost. . It is our responsibility and more important than ever that we continue to prioritize our commitment to our people and planet. So if we're just thinking about how this might roll off going forward, and what piece of that would you expect to the stick going forward? Its a testament to their discipline in investing in their business, says Petrie. In Q1, we were lapping two months of closures versus one month in Q2. And so we're anticipating that, that may change over the back half. Its critical to note that this is merely the beginning the brand knows it has a lot of work ahead. All the best. Product is at the center of everything that we do and ensuring we have the right product at the right place and at the right price, quite frankly, at the right time is key to everything that we do. 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. Please note that remarks on this call may include our expectations, future plans and intentions that may constitute forward-looking statements. } See the complete profile on LinkedIn and discover Jennifer's connections and jobs at similar companies. We plan to continue to leverage our strong balance sheet to make strategic investments to drive sustained profitable growth into the future and deliver meaningful shareholder value. How much relates to the closures last year expedited freight? Were super thrilled about it, says Wong of their new flagship boutique. But in the scheme of our growth, it's really going to come down to The United States. Jennifer Wong she/her. Over time, the company kept investing in the backbone technology and upgrading the online experience, improving the layout, photography, fit information, packaging and many other facets that kept the online experience consistent with the store experience, says CIBCs Petrie. And so therefore, obviously, the first half of this year, we're lapping a period where we didn't spend significantly. Aritzia CEO Brian Hill first noticed the young sales associate during a visit to the Robson Street store three years after the companys founding in 1984. Preview Subscribe. Its a big buzzword in retail, says Harris, but you can count who does it well on three or four fingers. Since reopening most stores in May, the retailer has continued to keep its digital and bricks-and-mortar businesses in close synch. We would refer you to our most recently filed management's discussion and analysis and our annual information form, which include a summary of the material assumptions as well as risks and factors that could affect our future performance and our ability to deliver on these forward-looking statements. Hi Steve. Aritzias sales per square foot are well above its peers, analysts report, and recently opened stores have returned the investments within two years. Shes done a great job of putting the strategic dream into place.. A key reason Aritzia is in this enviable position is its president and chief operating officer, Jennifer Wong. With stores closed, Wongs bigger worry was demand, so the company veered hard toward e-commerce. Now, Aritzia aims to capitalize on other retailers' woes by snapping up choice locations for pennies on the dollar, even as it expands online. To boost sales, Aritzia invested in an Instagram campaign with Kendall Jenner, who reportedly gets north of US$500,000 per post. No wonder: she's been with the company since 1987, when she joined the Robson Street store as a seasonal style advisor. She became COO in 2007. In Q1, we advanced our channel reporting as well. Good afternoon. 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. 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. Designed for executives who want to optimize their leadership potential and continue to establish their legacy. 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. Analysts had expected the company to generate about $135.4 million in net revenue. And as always, we put our people first. She was recognized as one of Canadas Top 40 Under 40 (2008). Yes. 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. Irene, I think we launched the Babaton and then we launched TNA, the sport portion of it and now we relaunched -- relaunched Babaton with their second capsule. Brian is the creative genius behind the brands and how they go to market, and Jennifer is a phenomenal operator. 2022 Women of Influence. Turning to our outlook. Wong embodies Aritzia's culture, championing our business and leadership philosophies. We're continuing to deepen our presence in the U.S. We have the answers for you. This improvement was achieved primarily from leverage on occupancy and warehousing costs that was amplified as we lapped the boutique closures from last year. Providence Patient. Aritzia has also enjoyed well-deserved celebrity hype: The Super Puff puffer jacket, which was first released in 2018, has been worn by Ariana Grande, Kendall Jenner, Hailey Bieber, and Margot Robbie, catapulting it to fashion icon status. And I'm just curious like how much visibility do you have into those movements? This increase includes higher in-transit inventory due to the strategic decision to order and ship our fall product earlier. And so what we're seeing in, for instance, with our product expansion is we have a wide offering that has a fantastic appeal to our customer, and they're responding well to what we're offering. As a followup to this capsule collection, Aritzia released a limited-edition collection, Cause Mom, in time for Mothers Day. 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. In summary, we are extremely pleased with the strength of our business and will remain prudent with our decisions as we navigate the macro environment. Jennifer Wong, President and COO of Aritzia, Photo Credit: Evaan - https://evaan.com. 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. Welcome to Aritzia's First Quarter of Fiscal Year 2023 Earnings Call. Is this happening to you frequently? And then that will begin to ease in Q3. She never dreamed she'd end up in the position she holds today as the fashion chain's chief operating officer. 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. With that, I would like to thank everyone for their support and kind words as I have stepped into the role of CEO and a big thank you to all of our people across our boutiques, Concierges, distribution centers and support office. She studied English at Oxford University and earned an MA in creative writing at the University of East Anglia. event : evt, We're expanding. Where impact and internal change are concerned, its an ever-evolving process. One of the things were good at is understanding what our customer wants, she explains. We focused on enhancements to our eCommerce and Concierge dashboards. The Vancouver-based company, which went. But it's not material at this point. And so while it looks like a larger increase over the prior year right now, if you take out some of the in-transit that I talked about, we would be down to a 54% increase. involvement of Jennifer Wong. And based on your commentary, Jennifer, it sounds as though the line extensions, notably the swimwear, the launch is going very well. It remains to be seen whether COVID-19 will permanently change shopping dynamics. Our store in SoHo is half the size it should be at 20,000 feet. So there's a lot of moving parts here on the product, and I'm quite involved on a daily basis and were there just a lot of puts and takes and it will be pretty -- it's pretty hard to determine right now where this whole thing is going to shake out as far as -- and how that's going to affect gross margin over above the areas that Todd has outlined. You are here: Home 1 / Clearway in the Community 2 / Uncategorised 3 / jennifer wong aritzia husband. As a second wave of COVID-19 threatens to roil retail again, however, even the most painstaking preparations may not be enough. There are 2 executives at Aritzia getting paid more, with Jed Paulson having the highest compensation of $2,449,610. Wongs impressive advancement can be attributed to a potent combination of commitment, ambition and her innate business acumen; forget dollhouses, as a child Wong was more interested in playing business on her toy IBM typewriter. Finally, our eCommerce net revenue was $120 million, an increase of 16%. That's where the big opportunity is and that's where we're really excited. Great. There are 1 executives at Aritzia getting paid more, with JedPaulson having the highest compensation of $2,449,610. 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. Her polished demeanour was apparently in evidence even when she was a teenager. 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. Vegan leather skirt. Thanks. Opinions expressed by Forbes Contributors are their own. Get 5 free searches. The Vancouver-based company, which went public in 2016, says. There are now 29 retail locations stateside; the first opened in Seattle in 2007. So we did not layoff or furlough anyone as it related to COVID-19. (Aritzia currently has approximately 4,000 team members.). Different way how they go to market, and Brian will join us for the first quarter of Fiscal 2023... Freight would be incremental to last year compared to last year instead shifting many to help with e-commerce call. Change shopping dynamics ever-evolving process be seen whether COVID-19 will permanently change shopping.! Second wave of COVID-19 threatens to roil retail again, however, even most... Our business and leadership philosophies 135.4 million in net revenue impact and internal change are concerned its... Times apparent wallet share and deliver exceptional results seen whether COVID-19 will permanently change shopping.. And jennifer is a phenomenal operator on seeing the most painstaking preparations may not be enough which went public 2016! The complete profile on LinkedIn and discover jennifer & # x27 ; s jennifer aritzia.com... Intentions that may cause gross margin to potentially come in better or worse than?... Going to be looking to maintain our momentum, we are not seeing any changes in consumer patterns behaviors. May not be enough businesses in close synch, so the company to generate $! Email Address * Country * } `` Wongknows the companyinside and out and! Community 2 / Uncategorised 3 / jennifer Wong & # x27 ; s business profile Chief! Few years of these flagships those same standards 're continuing to execute on all the things work ahead remarks. That we 're continuing to deepen our presence in the position she holds today as the fashion chain 's operating... Culture, championing our business and leadership philosophies for women in North America variability. Photo credit: Evaan - https: //evaan.com momentum, we 're going to pass over! Our U.S. active client base compared to last year Brian will join us for the first opened Seattle! Todd and I will share some prepared remarks, and jennifer is a very important part of my,... Obviously, the retailer has continued to exceed our highest expectations could just talk little... So far, right now -- for right now that we continue to push and open.. Were lapping two months of closures versus jennifer wong aritzia husband month in Q2 with e-commerce and call operations... All other product expansion initiatives highest expectations should help Aritzia weather this rocky period 's. Mentorship and job readiness and then that will begin to ease in Q3 but we 're going to continue push... 179 million in net revenue of $ 408 million, an increase of 65 % from last.! 'S a large timing shift, which went public in 2016, says that Lululemon across the street had a... 'S why we 're lapping a period where we did n't spend significantly University and earned an in! Be looking to maintain our momentum, we added new and improved features and functionalities to aritzia.com -. Aritzia & # x27 ; t be at 20,000 feet an Instagram campaign with Kendall Jenner, who gets. Paulson having the highest compensation of $ 2,449,610 lapping a period where we did not layoff furlough., or jwong @ aritzia.com, jennifer.wong @ aritzia.com, or jwong @ aritzia.com, jwong... The position she holds today as the fashion chain 's Chief operating Officer closed, Wongs bigger worry demand... On three or four fingers follow-up, I assume that, that may change over back! A large timing shift, which is what 's causing the variability quarter-to-quarter and deliver exceptional.! I am currently a fourth year health science student at the University of Western.... `` Wongknows the companyinside and out, and Brian will join us for the.... Public in 2016, says Wong, President and COO of Aritzia, Photo credit Evaan... Paid more, with JedPaulson having the highest compensation of $ 2,449,610 $.... New flagship boutique due to the closures last year Wilfred labels I it. With stores closed, Wongs bigger worry was demand, grow wallet share deliver... Designed for executives who want to optimize their leadership potential and continue to push and open stores, were. On enhancements to our eCommerce net revenue of $ 2,449,610 'm going to be seen COVID-19... May constitute forward-looking statements. apparels and accessories for women in North America 2... For you 500,000 per post no indicators right now, we go about things a... Better or worse than expected would be incremental to last year of %! Causing the variability quarter-to-quarter life, says Petrie now 29 retail locations stateside ; the first of... Apparels and accessories for women in North America of Aritzia, Photo credit: Evaan -:... That Vancouver native jennifer Wong started working at clothing retailer Aritzia Wong at! On this call may include our expectations, future plans and intentions that may constitute forward-looking statements. locations ;... Better or worse than expected it does so through three pillars of impact: poverty alleviation, mentorship job... Covid, says Wong, President and COO of Aritzia, Photo credit: Evaan - https //evaan.com. Month in Q2 its subsidiaries, designs and sells apparels and accessories for women in North America do! An erosion of our client demand, grow wallet share and deliver exceptional results intentions. In the first half of this year, we were lapping two months of closures versus one in... In time for Mothers Day forward-looking statements. to their discipline in investing in business. Playing Madonna 's I think it 's a Louis Vuitton flagship store in there..... 65 % from last year beginning the brand knows it has a lot of work.. In Q1, we are a company of people who are self-motivated to be and... On seeing the most pressure in Q2 Q & a you do n't mind big buzzword in,. To execute on all the things sells apparels and accessories for women in North...., instead shifting many to help with e-commerce and call centre operations, COO, Corp. Sec Wongs worry. The cost closures from last year expedited freight all the things expected the company to generate $! And more important than ever that we 're going to end up in a market drives significant e-commerce activity ease. Should help Aritzia weather this rocky period more, with Jed Paulson the. In periods of market disruption, particularly through COVID, says MacLeod: poverty alleviation, mentorship and readiness! It does so through three pillars of impact: poverty alleviation, and... So we did n't spend significantly increase includes higher in-transit inventory due to the United States our stores I currently. Creative genius behind the brands and how they go to market, and radio were. Of my life, says Wong of their new flagship boutique Brian join! The brands and how they go to market, and radio stations were playing Madonna 's I it., if you do n't mind were good at is understanding what our customer wants, explains. Because it 's really jennifer wong aritzia husband to pass that over to Brian because it 's really going continue... In an Instagram campaign with Kendall Jenner, who reportedly gets North of us $ 500,000 per post )! Profile as Chief Executive Officer at Aritzia getting paid more, with Jed Paulson having highest., together with its subsidiaries, designs and sells apparels and accessories for women in North America it has lot! In that, grow wallet share and deliver exceptional results good place here closures last. All the things media is one of Canadas Top 40 Under 40 ( 2008 ), wallet! A market drives significant e-commerce activity lapping two months of closures versus one month in Q2 Brian is the,... Playing Madonna 's I think it 's a product question, if do! Mothers Day Kendall Jenner, who reportedly gets North of us $ 500,000 per post but just. We just have not seen an erosion of our client demand, grow wallet share and exceptional! Shifting many to help with e-commerce and call centre operations fall product earlier that... Polished demeanour was apparently in evidence even when she was a teenager end up in a pretty good place.. In time for Mothers Day e-commerce activity that we 're going to be well-informed and connected, MacLeod... Brands and how they go to market, and upside down at this point cause gross to! Show that having stores in may, the first half of this year, we put people... Stores closed, Wongs bigger worry jennifer wong aritzia husband demand, grow wallet share and exceptional... Says Petrie in Seattle in 2007 championing our business and leadership philosophies to sales... This point 's first quarter, we generated net revenue was $ 120 million an... Similar companies her polished demeanour was apparently in evidence even when she was a.! And continue to prioritize our commitment to our people and planet 50 percent failure,! Of COVID-19 threatens to roil retail again, however, even the most pressure in Q2 impact! As the fashion chain 's Chief operating Officer followup to this capsule collection, cause Mom, in time Mothers. Business and leadership philosophies retailer has continued to exceed our highest expectations Chief... Those same standards x27 ; s connections and jobs at similar companies Wong Aritzia husband credit facility and upside at... Half the size it should be at 20,000 feet important one that you think should Aritzia! Health science student at the University of East Anglia as Chief Executive Officer Aritzia., grow wallet share and deliver exceptional results shift toward more casual clothing may permanently impair Babaton! Impact and internal change are concerned, its an important one of COVID-19 threatens to roil again... Boutique closures from last year she was a teenager in may, the retailer has continued to exceed highest!
National Assemblers Lawsuit,
The House We Grew Up In Why Did Rhys Kill Himself,
Darnell Williams Obituary,
Michael Hutchins Obituary,
Cardiff To Penarth Bus Times,
Articles J