Aritzia

Last updated

Aritzia LP
Company type Public
TSX:  ATZ
Industry Clothing
Retail
Founded1984
Founder Brian Hill
Headquarters Vancouver, British Columbia, Canada
Number of locations
101 [1]  (2021)
Area served
North America
Key people
Jennifer Wong (CEO)
ProductsYoung women's clothing and fashion accessories
Sportswear
RevenueIncrease2.svg C$2.20 billion (2022) [2]
Increase2.svg C$0.19 billion (2022) [2]
Total assets Increase2.svg C$1.84 billion (2022) [2]
Total equity Increase2.svg C$0.69 billion (2022) [2]
Number of employees
8,300 [3]
Website aritzia.com
Aritzia store in Sherway Gardens, Toronto, Canada ARITZIA in CF Sherway Gardens 2023.jpg
Aritzia store in Sherway Gardens, Toronto, Canada
Aritzia store in New York City USA-NYC-Aritzia 5th Avenue.jpg
Aritzia store in New York City
Aritzia's previous logo Aritzia logo.png
Aritzia's previous logo

Aritzia LP is a Canadian clothing retailer targeted towards young North American women. The company was founded in Vancouver, British Columbia, by businessman Brian Hill in 1984. Aritzia sells a variety of lifestyle apparel through various upscale retail stores across Canada and the United States and online. Aritzia describes itself as "everyday luxury" brand at attainable prices. [4]

Contents

History

Aritzia opened its first store in 1984 in Oakridge Centre, a shopping mall located on Vancouver's West Side. [5] Since making national forays across the Canadian retail clothing landscape throughout the next two decades, the company opened its first U.S. stores in Seattle and Santa Clara in November 2007. [6]

The company went public on October 3, 2016. [7]

In 2019, major shareholder Berkshire Partners, an American private equity company, exited its stake. [8]

In June 2021, Aritzia announced it would be acquiring Reigning Champ, a menswear-focused Canadian athleisure and streetwear brand, for $63 million. [9]

In May 2022, Jennifer Wong took over as CEO, replacing longtime founder and executive chair Brian Hill. [10] Prior to taking on the position of CEO, Wong held the role of COO at Aritzia since 2007. Wong joined the firm in 1987 as a sales associate at the Robson Street store in Vancouver, one of the first Aritzia's first flagship stores. [11]

Brands

Unlike other Canadian clothing retailers, Aritzia distinguishes itself by primarily selling its own in-house fashion brands, such as Wilfred, Wilfred Free, Le Fou by Wilfred, TNA, Talula, Babaton, The Group by Babaton, 1 -01 Babaton, Sunday Best, Main Character, Community and Super Puff. In 2014, Aritzia introduced two handbag lines: SIXELEVEN and Auxiliary. [12] Stores also carry clothing from labels such as Citizens of Humanity, Mackage, New Balance, Levi's, A Gold E, Havaianas, J Brand Jeans, Adidas, Herschel Supply Co. and Rag & Bone. [13]

Stores

The interior and exterior architectural configurations of Aritzia's stores are designed individually. After a location is hand-selected, a team of architects and interior designers create a bespoke look with a mixture of local influences, natural materials, custom furniture, and art. [14] It is intentional that there are no mirrors in most of the dressing rooms, forcing shoppers to head into a communal space. (Each store has at least one dressing room with a permanent or roll-in mirror for those shoppers wanting additional privacy). Some locations have complimentary coffee bars or serve alcohol. [15]

As of January 2021, Aritzia operates 101 stores in North America; 68 boutiques are located in Canada including 5 TNA stores, 8 Wilfred stores and 4 Babaton stores. [16] [1] There are 44 Aritzia stores in the USA, including a 13,000 square-foot flagship location in Manhattan, New York City. [17]

In January 2017, Aritzia announced the opening of a flagship store in Chicago on Rush Street. [18]

E-commerce

In November 2012, Aritzia launched the aritzia.com e-commerce site. [19] It also provided a digital magazine with artist profiles and galleries of clothing trends.

Notes

  1. 1 2 "January 2021 Investor Presentation" (PDF). Aritzia. January 2021. Archived (PDF) from the original on January 19, 2021. Retrieved May 4, 2021.
  2. 1 2 3 4 "Aritzia Annual Report 2022" (PDF). Aritzia. Retrieved October 14, 2023.
  3. ↑ "ARITZIA INC. : Shareholders Board Members Managers and Company Profile". MarketScreener.
  4. ↑ Duhatschek, Paula. “Aritzia is having a moment in the U.S.—but can it live up to the hype?” CBC News, January 27, 2023. Embracing diversity and inclusivity is vital for Aritzia because it reflects the values of their broad customer base. By showcasing a range of body types, ethnicities, and styles, Aritzia can connect more deeply with its audience, fostering loyalty and expanding its market. Plus, it's just the right thing to do—it helps ensure everyone feels represented and valued.
  5. ↑ Mckenzie, Kevin Hinton & Ryan. "BCBusiness". BCBusiness. Retrieved June 19, 2021.
  6. ↑ Kelly, Caitlin. "Aritzia, Canadian Fashion Retailer, Files IPO". Forbes. Retrieved June 7, 2023.
  7. ↑ The Canadian Press (October 3, 2016). "Aritzia soars on TSX; shares up 10.69 per cent at close". CTV News. Bell Media. Retrieved October 20, 2016.
  8. ↑ "Banks buy into Aritzia, as major shareholder Berkshire Partners exits". Richmond News. February 22, 2019. Retrieved June 19, 2021.
  9. ↑ Larson, Kristin. "After challenging year, Aritzia forges into menswear with Reigning Champ acquisition". Forbes. Archived from the original on July 15, 2021. Retrieved July 15, 2021.
  10. ↑ Robertson, Susan Krashinsky (May 30, 2022). "Aritzia's new CEO on the retailer's future". The Globe and Mail. Retrieved May 30, 2022.
  11. ↑ Eldor, Karin. "The 'Super' Success Of Aritzia: Jennifer Wong, President And COO, Leads With Impact". Forbes. Retrieved June 7, 2023.
  12. ↑ "Aritzia In-House Handbag Line Launches Today" . Retrieved September 24, 2015.
  13. ↑ Brands aritzia.com/
  14. ↑ Kelly, Caitlin (January 13, 2023). "How Aritzia Became the Hottest Fashion Chain in the US". Bloomberg.com. Retrieved June 7, 2023.
  15. ↑ McEvoy, Jemima. "How 39-Year-Old Canadian Retailer Aritzia Suddenly Became A Fashion Icon And Made Its Founder A Near Billionaire". Forbes. Retrieved June 7, 2023.
  16. ↑ "Store Locations". Aritizia. Archived from the original on June 25, 2017. Retrieved May 4, 2021.
  17. ↑ "About Us". www.aritzia.com.
  18. ↑ Zumbach, Lauren (January 25, 2017). "Aritzia opening Gold Coast flagship this fall". chicagotribune.com.
  19. ↑ "Aritzia fashionably late to Internet retailing" . Retrieved June 19, 2021.

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