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The impressive retail space is now about double the size of what was there prior. Anchor Holt Renfrew is also in the process of a significant renovation. Departments are being shifted around as the store’s ground floor is transformed into a luxury brand destination, primarily housing leased concession boutiques for some of the world’s biggest names.
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However, Brian Hill still remains deeply involved in the business and holds 18.7% equity interest. He recently sold a part of his equity interest for estate planning and diversification purposes. Aritzia’s SG&A expenses increased from $184 million (25% of revenue) to $551 million (28% of revenue) for LTM November 2022.
How many Aritzia stores are there in the United States?
The remaining 5% of revenue comes of sales of third party branded products such as sneakers (Vans, New Balance). Aritzia first opened as a standalone boutique in Vancouver in 1984 with the goal to provide high-quality and beautiful clothing to women. Stars like Meghan Markle, Kendall Jenner, Gigi and Bella Hadid, and Hailey Bieber have all been spotted in Aritzia's product. Some have even appeared in marketing and social media campaigns. Last week, Canadian-based fashion retailer Aritzia opened its first Minnesota location at Mall of America. The new, 8,000 square foot store is located on the first floor of the west wing, in the space previously occupied by H&M next to Columbia Sportswear.
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Opt to get texts or calls with insider info, offers, invites and other fun surprises from Aritzia through your phone number below. Think well-lit fitting rooms, extra-large mirrors and cozy lounge areas — make yourself at home. However, employees noted that they do get good discounts on products (40%). You can read about the management and board of directors of Aritzia from here. The board of directors includes private equity partners (Berkshire)and former executives from well know fashion companies such as Aldo, Lululemon, Mountain Equipment Company (MEC) and SSense. With the exception of FY2021, Aritzia’s EBITDA margin during FY2018 to FY2022 averaged ~17%.
The last pillar of Aritzia’s brand is its marketing strategy. The company does not use traditional media to promote its products. In addition to relying on its physical stores, the company primarily engages social media influencers to promote its products. The brand is also further flued by its popularity among its customers who like posting about their shopping experiences (shopping hauls) on social media platforms such as TikTok where Aritzia has almost 2 billion views. Aritzia’s minimalist store set up is appealing to influencers. In addition to a very active reddit discussion group, Aritzia also has over 1.4 million followers on Instagram.
Aritzia sued over hot pink sculptures by artist claiming they're 'identical' copies of his work - CBC.ca
Aritzia sued over hot pink sculptures by artist claiming they're 'identical' copies of his work.
Posted: Mon, 03 Apr 2023 07:00:00 GMT [source]
The New Aritzia Bellevue Square
For LTM November 2022, Canada, and US both represented 50% of total revenue of Aritzia. It is important to note that US revenue was only 34% of total revenue in FY2021. Over FY2018 to LTM, the US revenue has grown at CAGR of 39% and the Canadian revenue has grown at a CAGR of 13%. Aritzia opened its first stores outside of Vancouver in 1999.
Yorkdale launches more first-to-Canada international retailers than any single location, with recent additions including Diptique, Acne Studios, Ganni and the fist standalone Fendi. Luxury brands are an important part of the mix with Bulgari and Cartier having both recently expanded storefronts. Anchor Holt Renfrew, which spans about 130,000 square feet, is said to have sales in the hundreds of millions of dollars annually.
Bloor Street Luxury Run in Toronto Adds Saint Laurent Flagship as Area Transforms
Mall of America's VP of Leasing Kathy Rusche says she is thrilled to add Aritzia to the mall's eclectic mix of retailers as they continue the trend of offering first-to-market stores to its 40 million annual guests. We’ve got four shops spread throughout the West Coast, full of clothes that’ll pop against a mural wall. Swing by one of our stores to say hi, try new styles, collect compliments, etc. Our LA flagship at Westfield Century City is over 10,000 square feet and includes a personal-shopping room with private checkout. This bright, airy space is filled with our latest collection, set against dynamic architectural details. Aritzia, while not a prestige or luxury retailer, fits in with the transformation of the Yonge and Bloor intersection.
Clothes are only a part of the experience– Aritzia also places emphasis on the visual appeals of each store. As you step foot into an Aritzia, the uniqueness of the location is something to take note of. Each Aritzia is styled based on the space provided, taking into consideration local influences, custom interior pieces, and natural materials.
Later this year, grocerant concept Eataly will open its first location at the nearby Manulife Centre, which will span about 50,000 square feet over three levels. Christian Dior is building its largest store in North America at The Colonnade at 131 Bloor Street West (Chanel relocated its flagship nearby in the fall of 2017). What started out as merely a quaint Vancouver boutique hidden between a vast array of shopping stores transformed into an innovative design house across North America. Today we can see signature pieces dawning on the likes of contemporary fashion for women– from young adults to middle-aged.
Aritzia's roomy 'gathering places' thrive in a tough Canadian retail space - Financial Post
Aritzia's roomy 'gathering places' thrive in a tough Canadian retail space.
Posted: Thu, 11 Aug 2016 07:00:00 GMT [source]
For LTM November 2022, Aritzia has spent $104 million in capital expenditure. In FY2022, the company also acquired a 75% stake in the men’s athletic brand, “Reigning Champ”, for $33 million. The number of employees per boutique has increased substantially from 24 in FY2020 to 42 in FY2022. In other words, the retail revenue per employee has decreased significantly from $329K in FY2020 to $211K in FY2022. This indicates decreasing retail employee productivity, however at a company level the margins are strong because eCommerce, which is a higher margin business, has gained share in overall revenue. It will be interesting to see how this figure trends over time.
The general aesthetic of an Aritzia store is a contemporary feel with an eclectic touch to promote comfortable browsing. Original sculptures, paintings, and prints adorn the walls of each location. Just recently, Aritzia placed gaming machines within the stores to keep those accompanying shoppers occupied. At 115 stores, the retail revenue of $1,325 million represents average annual revenue per store of $11.5 million.
Though there were already several stores in Vancouver, each with a unique look, the reatiler wanted to create a more uniform design that could be expanded nationally. The owner turned to locally based McKinley Dang Burkart to create a retro-chic design that reflects the eclectic clothing. Designers took cues from the 60s and 70s, using figured woods — rosewood, teak, Australian wood and really differently cut, grained mahogany — and a lot of circle/square motifs in the fixtures. The result is a light, sleek space infused with modern interpretations of vintage elements; the most noteworthy of which are the wood-grained fixtures. At the time of its IPO in 2016, Aritzia set certain financial goals, included doubling its total revenue and increasing eCommerce to 25% of total revenue.
Marble tables, wire-wheeled oak tables, curated artwork, sculptures, books and plants can be found through the store, with flooring consisting of polished concrete and herringbone. Explore the Marni Case Study, highlighting bold fashion, diverse collaborations, and innovative digital expansion in this captivating analysis. Explore the Jill Sander Case Study, delving into her minimalist fashion legacy and how creative directors Lucie and Luke Meier adapt to market changes. Discover The OTB Group Case Study, highlighting core values, growth strategies, sustainability efforts, and digital innovation in the fashion world. Kendall Jenner, Bella Hadid, and Jennifer Lopez are just some of the many celebrities spotted in The Super Puff™ puffer coat by Aritzia. The original Super Puff™ is a 100% goose-down puffer jacket designed to deliver warmth to -30°C / -22°F, ranging in varying colors.
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